Development economists often confuse natural resources with wealth and then are puzzled when countries rich in resources experience widespread poverty. Free markets lead to creation of wealth, period.
During May 2022, year-over-year (YOY) growth in the money supply was at 6.97 percent. That's down from April's rate of 7.25 percent, and down from May 2021's rate of 15.4 percent. The growth rate peaked in February 2021 at 23.12 percent.
Progressives believe that economies should be run by high-IQ "experts." But successful market economies require entrepreneurs with an idea and the willingness to face uncertain economic conditions.
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