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Friday, September 29, 2006

 

Poverty Is The Default Position

At the end of class yesterday we discussed poverty in our system of political economy. This morning I ran across something written by Don Boudreaux that I think is very relevant to our understanding. You might be interested in reading my short post here, and you might also want to link to Professor Boudreaux's post. Here is the bottom line:
"A world characterized by 'poverty' as we think of this term today really is the default position, or it really can be thought of as the starting point. It is the creation of wealth that means people can escape from poverty."

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