If the entire world's wealth was distributed evenly... Watch

Nepene
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#21
Report 7 years ago
#21
(Original post by Reflexive)
If inequality if naturally rooted, why has it increased under capitalism?
That graph does include communist and socialist countries. It doesn't really prove that capitalism is bad.

Perhaps because poor people are denied the chance to start up businesses by their socialist masters, and denied the chance to get richer.

Edit. For example, look at the GPDs of a number of countries back in the 1960s. Hong Kong ($681), Taiwan ($315), Ireland ($1,100), Singapore ($482), Spain ($1,100) and Japan. All much lower than the big powers of the current world which tended to be around 3000.

http://pwt.econ.upenn.edu/php_site/pwt_index.php

Those are countries with a high degree of economic freedom. They've all increased to have an average gpd of over 20000 per year. Statistical evidence of the past indicates that countries with a high degree of freedom do tend to get a lot more wealth. They tend to get richer and their people better off. Socialism tends to keep people poor and keep racial minorites down.
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Rhadamanthus
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#22
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It's a ridiculous idea that relies on faulty economic principles that have failed every time they have been put into action.
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