Capitalism saves children

In this recent article, Rich Lowry discusses the role of capitalism in the lives of children and the poor throughout the world.

Apparently, the booming global economy is raising the standard of living throughout the world. Who would’ve guessed?

In a worldwide instance of trickle-down economics, the growth is diminishing the ranks of the poor. According to the World Bank, developing countries have averaged 3.9 percent growth since 2000, contributing “to rapidly falling poverty rates in all developing regions over the past few years.” In 1990, 1.25 billion people lived on less than $1 a day. In 2004, less than a billion did, even though world population increased 20 percent in the interim.

This is my favorite quote of the article:

Such growth in developing countries is the result of, according to the World Bank, “further integration into world markets, better functioning internal markets and rising demand for many commodities.” In short: globalization and capitalism. When a goateed anarcho-syndicalist commits an act of vandalism at an anti-globalization protest, he might think that he’s striking a blow against The Man, but he’s really rallying against the chance some desperately poor little boy or girl has to live a healthier life.

He’d be the same guy wearing a Che Guevara t-shirt.