The work of free markets

First, free enterprise dramatically reduces extreme poverty. In 1970, over one-quarter of the world lived on less than one dollar per day. By 2006, about one in 20 people lived in extreme poverty — an 80 percent reduction. We have the adoption of free markets across the developing world to thank for this massive reduction. That it happened in less than four decades is all the more impressive.

Via Michael Strain: Pope Francis should praise free markets more often @ Washington Post.

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