From the Washington Post, an excellent primer for freedom in the marketplace. The myths he answers:
- Free enterprise hurts the poor.
- Free markets are driven by greed.
- Free enterprise breeds envy.
- The free market caused the financial meltdown.
- Free enterprise is unfair.
A couple of highlights:
- Free markets are rarely driven by greed but by earned success.
- In a society that rewards initiative and offers opportunity, free enterprise fosters aspiration and ambition. In a social democracy with economic stagnation, you find envy, resentment, unrest…
- Loved the exercise he used in class do demonstrate fairness: Halfway through his course, he proposed that a quarter of the points earned by the top half of the class be passed on to the students in the lower half, to improve grade equality.