Turkey's economy is reeling under inflation rates likely reaching 170 percent. Not surprisingly, the worst of it is felt by regular people just trying to make a living.
The modern progressive narratives claim that the wealth of the West and especially of the USA was built upon the backs of slaves. In fact, slavery retarded economic growth.
While the standard secular narrative is that Christianity held back science and human development, history tells a different story, one of literacy and the development of human capital.
Janet Yellen, who once was the nation's chief inflationist, now says that poor women need easy access to abortion because inflation might work a hardship on them.
Critics of free markets claim that capitalism causes poverty. After economic restrictions against India's Dalits caste were lifted, many Dalits were able to secure a better life and rise from poverty.
Extended families have long functioned to provide alternatives to the state in terms of risk sharing and mutual aid. Other economic benefits include the refinement of human capital and economies of scale.
People must still compete for resources in a socialist economy. In fact, the competition is intense. On the other hand, thanks to markets, basic necessities—and even basic luxuries—are now more more accessible than ever.
