Has Capitalism Come at the Expense of the Poor?
Has Capitalism Come at the Expense of the Poor?
Perhaps the most amazing fact in all of economic history is the unprecedented rise in wealth per person that has taken place in the last two centuries, following the Industrial Revolution. But it remains a widespread belief that these fruits of capitalism have only benefited the rich at the expense of the poor. This perspective...
By Saul Zimet
Does Economic Growth Increase Air Pollution?
Does Economic Growth Increase Air Pollution?
Must the environment suffer for the economy to grow? It may seem so in the short run. But contrary to the myth that “capitalism destroys the environment,” wealth creation improves both the environment and the economy through technological and scientific progress. The economist Simon Kuznets first drew an inverted U-shaped curve to describe the relationship...
By Saul Zimet