Wall Street Journal

Home » Wall Street Journal

The Greatest Achievement in Human History?

in Liberator Online Archives by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 20 of the Liberator Online. Subscribe here!)

Despite the best efforts of government to restrict or sometimes even outlaw free markets, free enterprise has brought us perhaps the greatest achievement in history: the largest and fastest reduction in worldwide poverty ever.

This good news comes from economist Douglas A. Irwin’s November 2 Wall Street Journal piece “The Ultimate Global Antipoverty Program.”

The subhead gives the essence of the story: “Extreme poverty fell to 15% in 2011, from 36% in 1990. Credit goes to the spread of capitalism.”

Writes Irwin:

The World Bank reported on Oct. 9 that the share of the world population living in extreme poverty had fallen to 15% in 2011 from 36% in 1990. Earlier this year, the International Labor Office reported that the number of workers in the world earning less than $1.25 a day has fallen to 375 million 2013 from 811 million in 1991. …

The economic progress of China and India, which are home to more than 35% of the world’s population, explains much of the global poverty decline. But many other countries, from Colombia to Vietnam, have enacted their own reforms. …

Such stunning news seems to have escaped public notice, but it means something extraordinary: The past 25 years have witnessed the greatest reduction in global poverty in the history of the world.

And free enterprise deserves the credit, Irwin emphasizes:

“To what should this be attributed? Official organizations noting the trend have tended to waffle, but let’s be blunt: The credit goes to the spread of capitalism. Over the past few decades, developing countries have embraced economic-policy reforms that have cleared the way for private enterprise.”

In contrast, “The poorest parts of the world are precisely those that are cut off from the world of markets and commerce, often because of government policies.”

Why haven’t we heard more about this? Why isn’t the world cheering?

Says Irwin: “The reduction in world poverty has attracted little attention because it runs against the narrative pushed by those hostile to capitalism. The Michael Moores of the world portray capitalism as a degrading system in which the rich get richer and the poor get poorer. Yet thanks to growth in the developing world, world-wide income inequality — measured across countries and individual people — is falling, not rising, as Branco Milanovic of City University of New York and other researchers have shown.”

We have often said that spreading the ideas of liberty is “the great Cause that makes all other great causes possible,” and that liberty is literally a life-and-death matter for the people of the world. Here is proof of that.

Everyone working in our great Cause can take encouragement from this extraordinary leap forward — and redouble our efforts to remove the shackles of poverty and oppression from all the people of the world.

They Said It… With Judge Napolitano, Seth Meyers, and More

in Liberator Online Archives by James W. Harris Comments are off

(From the They Said It section in Volume 19, No. 20 of the Liberator Online. Subscribe here!)

OBAMA’S ILLEGAL WAR: “The war against the Islamic State is now illegal. The War Powers Resolution of 1973 gave President Obama 60 days to gain consent from Congress and required him to end ‘hostilities’ within 30 days if he failed to do so. This 90-day clock expired this week.” — Bruce Ackerman. professor of law and political science at Yale University, “Congress must act as Obama’s war against the Islamic State hits an expiration date,” Washington Post Nov. 7 2014.

MEET THE NEW BOSS, SAME AS THE OLD BOSS: “In case you didn’t notice, the new Congress is likely to be closer to President Obama’s views on executive power, surveillance, transparency.” — post-election tweet from Atlantic.com journalist Conor Friedersdorf, Nov. 5, 2014.

Judge Andrew NapolitanoTWEEDLEDUMB AND TWEEDLEDUMBER: “The two major political parties are more alike than they are different. On the two paramount issues of our day — war and debt — they are identical. With the exception of Democratic progressives and Republican libertarians, the two parties stand for perpetual war and perpetual debt. Both stances increase the power of the government, and each invites present and future destruction.” — Judge Andrew Napolitano, “More Culture Wars,” syndicated column, Nov. 6, 2014.

COINCIDENCE? “New Hampshire has among the least restrictive gun laws in the U.S. and the lowest homicide rate of any state.” — tweet from the Free State Project, Nov. 11, 2014.

YOUR FBI FILE: “Nearly one out of every three American adults are on file in the FBI’s master criminal database. … Over the past years, prompted by changing police tactics and a zero-tolerance attitude toward small crimes, authorities have made more than a quarter of a billion arrests, the Federal Bureau of Investigation estimates.” — reporters Gary Fields and John R. Emshwiller, “For More Teens, Arrests by Police Replace School Discipline,” Wall Street Journal, Oct. 20, 2014.


VA BLUES:

Seth Meyers“It’s been announced that a Union soldier who fought at the Battle of Gettysburg in the Civil War will be awarded the Medal of Honor by President Obama over 151 years after his death. Even better, he finally got an appointment at the VA hospital.” — Seth Meyers, “Late Night With Seth Meyers,” Nov. 6, 2014.

New Poll: Americans Want A More Libertarian Foreign Policy

in Foreign Policy, Liberator Online Archives by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 8 of the Liberator Online. Subscribe here!)

Nearly half of the public, and a strong plurality, say the United States government should intervene less in the internal affairs of other nations, as libertarians have long urged.

That’s the finding of a new Wall Street Journal/NBC News poll conducted April 23 to 27 and released May 1.

Fully forty-seven percent said the U.S. should “become less active in world affairs.” Only 19 percent — less than one in five — said it should be more active, and just 30 percent said it should remain at the current level.

This is consistent with a Pew Research Center poll we reported on last year, which found a record 52 percent of Americans agreeing that the United States “should mind its own business internationally.” That figure is a 40-year low.

Notes the political newspaper The Hill: “The latest numbers are a stark contrast from public opinion WSJ and NBC News recorded just after 9/11, when 40 percent of people wanted the U.S. to engage more of the world and only 14 percent wanted it to be less active.”

The WSJ/NBC poll also found support for President Obama’s interventionist foreign policy extremely low. Only a bit over a third approved of his handling of foreign policy. Just 37 percent said they approve of Obama’s handling of Russia’s intervention in Ukraine.

The entire poll can be seen here.