Freedom and Economics

Walter E. Williams has yet another brilliant column. Money quote:

The economic development lesson is clear: Have a system of economic freedom and grow rich. Extensive government control, weak property rights and government corruption almost guarantee poverty. A country’s institutional infrastructure is critical to its economic growth and the well-being of its citizens. The most critical are protection of private property, enforcement of contracts and rule of law.

Read it all; it’s well worth your time. And share it with any socialists you know!

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