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How Capitalism Reduces Poverty And Creates Wealth
How Capitalism Reduces Poverty And Creates Wealth
Authored by James T. Moodey via American Thinker,
The word capitalism was coined in the 1700s. The definition was vague. It generally meant "private property traded freely" or "free markets." However, most non-totalitarian countries had free markets, and these countries in Europe and elsewhere were not particularly wealthy. Their rural people were paupers living off the land, even in England, France, and the U.S. at our founding.
We generally regard capitalism as creating wealth, but free markets are not what created the enormous wealth that...
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