I'll give you two guesses and the first one doesn't count.
Give up?
Okay I'll help.
Believe it or not it's free markets/Capitalism/Economic Freedom.
According to the June 1, 2014 edition of the Economist, capitalism should take a bow.
"Most of the credit, however, must go to capitalism and free trade, for they enable economies to grow—and it was growth, principally, that has eased destitution." More…
But this is not new information. As this article… from Mises.org, points out:
"Careful analysis shows that capitalism has truly lessened the severity of poverty over time, and that the main problem with capitalism in most nations is that it has too many elements of government regulation and cronyism. Pope Francis and Cardinal Maradiaga have good intentions, but their anti-capitalistic beliefs are unfounded. Their campaign against global capitalism endangers the poorest people of the world."
There is no doubt that economic freedom/free markets/capitalism alleviates proverty better than any economic system to date.
As if we needed more proof, this article… at FEE.org notes:
"So why does more economic freedom mean less poverty? The answers are well-known to libertarians, but worth reviewing. In societies with more economic freedom, decreased taxes and regulation make it easier to accumulate savings and to start or expand a business. Today in the United States, getting permits and navigating the legal maze to start a business can cost tens of thousands of dollars. Getting the permit for a food truck, and complying with the various laws, can cost $15,000 at the high end. Regulations in the United States overall cost about 1.5 percent of the country’s income per capita. But in other countries this cost is even higher; in Germany regulations sap 4.7 percent of the nation’s income per capita. In Italy it’s 14.2 percent."
And here's an interesting finding according to the Economist. "The more people are exposed to socialism, the worse they behave".
In spite of what those on the left would have us believe, the evidence from free markets trumps their wishful thinking, hands down.
Free markets not only get more people out of poverty, they make citizens more ethical.
Go figure!
