Why poverty?

Walter Williams:

Poverty in Egypt, or anywhere else, is not very difficult to explain. There are three basic causes: People are poor because they cannot produce anything highly valued by others. They can produce things highly valued by others but are hampered or prevented from doing so. Or, they volunteer to be poor.

(Via RightWingNews.)

Still, I think that Milton Friedman’s comment is insightful. Rather than thinking about the causes of poverty, it’s more useful to think about the causes of wealth.

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