by Thomas Eddlem | Mar 22, 2022
The socialist left says the evidence capitalism oppresses the poor is that free markets relocate factories to the poorest nations in order to pay the lowest wages. And when wage rates rise in poor nations like South Korea and Japan, they move their factories over to new poor nations like China and Indonesia, and then again likewise on to the next poor nations like Vietnam and Bangladesh.
I see that as evidence of the opposite; it’s evidence of free markets bringing jobs to the poorest-of-the-poor, raising their living standards to humane levels over a generation or two, and then moving on to help the next most needy nation.
To read the rest of this article, go to the Libertarian Institute here: https://libertarianinstitute.org/articles/capitalism-puts-the-poor-first/