Dear Editor:
RE: Something must change, Jan. 18.
Whilst I’m empathetic to Dave Adsett’s intentions, I worry he might be presenting himself in a foolish light. While extremely general and staunchly fortified against offering any legitimate ideas to fix poverty, he was able to rattle off a simple criticism (though highly non-specific once again) of free-market ideals.
What I don’t think Dave realizes is how much of a powerhouse the free market has been in raising the standard of living across the globe. Let’s look at this empirically: one billion people have been lifted above the international poverty line since 1990. Was it by A) enforced collectivization and reallocation of resources, B) capitalist policies that allowed anyone capable of providing better products for cheaper to generate wealth, or C) voluntarily charity? I don’t remember that time we all gave a few loonies to India so they could drop their poverty rate from 60% to just over 10% in 40 years.
Take note of how I specified reallocation of wealth versus generation. The entire Earth’s GDP has consistently risen faster than inflation year over year. Anyone semi-competent in math can understand what that means. The “ultra-rich” that Dave seems to condemn, such as Musk or Bezos, haven’t taken more of our pie than what’s fair, they’ve expanded the size of the pie as a whole.
It’s the ultra-rich that Dave didn’t seem to care about that I have a problem with: the Schwabs and the Freelands, the Bangas and the Finks that comprise the World Economic Forum (WEF) board of trustees (worth billions of dollars).
The “ultra rich” with political power are the Napoleons and squealers of the world, using their political power to thicken their wallets, then having the gall to condemn the rich (and quite frankly anyone they can point a finger at) that have come by their wealth tactically but fairly, using nothing but wit, toil and the voluntary exchange of goods and services.
I am a young man watching the Canadian ship sink, who sees utility only in patching the leaks, not making sure the remaining space on deck is divided “equitably”.
Brian Sturgess,
Fergus