Thursday, February 07, 2008

Best phrase I've read today

Sure, let those who have become rich under capitalism try to do good things for those who are still poor, as Mr. Gates has admirably chosen to do. But a New-Age blend of market incentives and feel-good recognition will not end poverty. History has shown that profit-motivated capitalism is still the best hope for the poor.

The above is by Bill Easterly and is part of the best article I've read today.

HT to Greg Mankiw.

PS. You might also want to remember what a corporation's unique goal is supposed to be (I mentioned this also before, in the end of this post).

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