Skip to main content

Free markets, not redistribution, is the best way to reduce Poverty



So now we have some of the top economists in India advocating a return to universal PDS. What's important to note here isn't their advocacy, but the institutions they belong to.

Should it be surprising that economists who work for government institutions or institutions funded by government advocate the PDS?

Note what Andrew Quinlan of the CF&P Foundation has to say, "Poverty is typically used as an excuse for expanding government and redistributing wealth, but freedom and prosperity go hand in hand. We need more economic freedom - which means less government interference - so that the less fortunate have an opportunity to climb the economic ladder."

Adds Dan Mitchell of the Cato Institute, "The safety net has become a hammock. Rather than reducing poverty, government programs have gone overboard and are now encouraging it. The government needs to return to its core duties and the federal government should get out of the business of income redistribution."

Comments

Unknown said…
We used to often talk about free market but now the people who supported this ideology of free market is some how cursing this.

For example "Occupy wall street movement".

I think this fight is against the free market ideology.They are against the Corp-orates lobbying the white house.

2nd The democratic is some how trying to bring the buffet tax,ie taxing the rich based on there income.

These are a few indicators that people are against free market and they need some change.

So i think middle class people in america or the whole of Europe facing the crisis is against free market.

What i have understood is that

Countries that haven't experienced free market are moving toward free markets. and countries which have experienced the free market moving back to a socialistic approach.

also posting a link "http://www.youtube.com/watch?v=uB7jdjsFErM&feature=related".
Ray Titus said…
I guess when you say 'moving back', you are referring to bleedin' heart liberals....now should that be surprising?....surely you can't expect any different from community organiser Obama and his troops...

Well, what can I say,....idiots abound....so lets get together and celebrate the hippie, live on scraps crowd, and crucify the productive ones!

Long live the revolution!

Welcome misery!

Popular posts from this blog

Situational Involvement of Consumers

There are two types of involvement that consumers have with products and services, Situational and Enduring. Situational involvement as the term suggests, occurs only in specificsituations whereas Enduring involvement is continuous and is more permanent in nature.

Decisions to buy umbrellas in India are driven by the onset of Indian monsoon. Monsoon rains arrived in India over the South Andaman Sea on May 10 and over the Kerala coast on May 28, three days ahead of schedule. But then, after a few days of rain, South India is witnessing a spate of dry weather. Temperatures are soaring in the north of India. The Umbrella companies in the state of Kerala are wishing for the skies to open up. So is the farming community and manufacturers of rural consumer products whose product sales depend totally on the farming community. The Met. department has deemed this dry spell as 'not unusual'.

India's monsoon rains have been static over the southern coast since last Tuesday because of a…

Prior Hypothesis Bias

Prior Hypothesis bias refers to the fact that decision makers who have strong prior beliefs about the relationship between two variables tend to make decisions on the basis of those beliefs, even when presented with the evidence that their beliefs are wrong. Moreover, they tend to use and seek information that is consistent with their prior beliefs, while ignoring information that contradicts these beliefs.

From a strategic perspective, a CEO who has a strong prior belief that a certain strategy makes sense might continue to pursue that strategy, despite evidence that it is inappropriate or failing.


Ref : Strategic Management : An Integrated Approach, 6e, Charles W L Hill, Gareth R Jones

Consumer Spending

Carpe Diem Blog: From Visual Economics, a graphical representation appears above (click to enlarge) of Consumer Expenditures in 2007, using data from the Bureau of Labor Statistics. Note that total spending on food ($6,133), clothing ($1,881) and housing ($16,920) represented 50% of consumer expenditures and 30% of income before taxes in 2007. In 1997 by comparison, 51.1% of consumer expenditures were spent on food, clothing and housing, and 44.6% of income before taxes was spent on food, clothing and housing (data here).