Biden’s Rescue Plan Won’t Reduce Poverty
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Imagine thinking the government can reduce poverty.
Listen to the Audio Mises Wire version of this article.
Imagine thinking the government can reduce poverty.
Utopia is described as a society void of pain and poverty. It was sought well before Sir Thomas More coined the word in 1516 from the Greek words ou and topos. Since their combination translates as “to place,” More understood it to be unattainable. It has many names: Datong, the Garden of Eden, Atlantis, and New Jerusalem.
[This is Joseph Salerno’s preface to the new Chinese version of Money: Sound and Unsound published by the Shangai People’s Publishing House.]
There are two types of people who support the “inflation is low” narrative. The first type gets paid to push an agenda. The second type do not understand the Consumer Price Index (CPI) calculation. The methods behind the CPI will leave you with disdain for government intervention and a yearning for the free market.
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We’ve entered a new era of politics and government in America, and the Left is pretty happy about it. This week, for example, The Guardian announced, “Biden’s $1.9tn Covid Relief Bill Marks an End to Four Decades of Reaganism.”