Saturday, 9 February 2013

Quote of the day: "Capitalism is the greatest..."


Via the Whited Sepulchre I discovered this quotation:

Capitalism is the greatest creation humanity has done for social cooperation. It has lifted humanity out of the dirt. In statistics we discovered when we were researching the book, about 200 years ago when capitalism was created, 85% of the people alive lived on $1 a day. Toady, that number is 16%. Still too high, but capitalism is wiping out poverty across the world. 200 years ago illiteracy rates were 90%. Today, they are down to about 14%. 200 years ago the average lifespan was 30. Today it is 68 across the world, 78 in the States, almost 82 in Japan. This is due to business. This is due to capitalism. And it doesn’t get credit for it. Most of the time, business is portrayed by its enemies as selfish and greedy and exploitative, yet it’s the greatest value creator in the world.

Absolutely - you can see John Mackey of Whole Foods Market saying this and more here.


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