Tag Archive: Circle Bastiat


Poverty Includes Computers And Cell Phones ?

 

 

 

” A newly released report by the U.S. Census Bureau indicates that most Americans  living below the bureaucratically designated “poverty line” enjoy most modern conveniences.  For example more than 80 percent of U.S. households below the poverty line have a: refrigerator (97.8%); stove  (96.6%); television (96.1%); microwave oven (93.1%); air conditioner (83.4%); VCR/DVD player (83.2%); and cell phone (80.9%).  In addition, more than half of  households beneath the poverty level also have a:  clothes washer (68.7%); clothes dryer (65.3%);  computer (58.2%); and landline telephone (54.9).  Now, when we use these figures as a standard of comparison, most middle-class Americans families in, say, 1960, were living well below the poverty line.  But this comparison obscures the important point that capitalism long ago solved the problem of poverty in a meaningful sense and in doing so radically transformed the very concept of poverty.”

 

 

 

 

 

 

 

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Coming Dangers to Economic Freedom

 

 

” Peter Lewin posted some very interesting commentary of Richard Epstein’s distinguished scholar lecture at on-going Southern Economics Association (SEA) meeting. I had the opportunity to hear Epstein several years ago at the Association of Private Enterprise Education meeting and hardily agree with Peter’s assessment that “To hear Epstein talk is awe-inspiring. Hard to describe. Always without notes he delivers intricate, clever, funny, insightful prose without hesitation, seamlessly weaving his web of logic, backwards and forward, while making knockdown points.”

 

Distinguished Guest Lecture:

“The Implications of the Recent Election for Economic Freedom”

Richard Epstein
The University of Chicago
Law School

Friday, November 16th
at 5pm

Peter’s summary:

” This afternoon I heard Richard Epstein talk on the implications of the recent election for the economy. He gave the annual distinguished scholar lecture as the SEA meetings. To hear Epstein talk is awe-inspiring. Hard to describe. Always without notes he delivers intricate, clever, funny, insightful prose without hesitation, seamlessly weaving his web of logic, backwards and forward, while making knockdown points. “

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