4/12/22By H. Randolph Holder
The oft-criticized Capitalistic system offers solutions to many of today’s challenges. The largest reductions in carbon emissions have come from natural gas, thanks to the market innovation of shale fracking. Competitive labor markets have helped minorities rise despite supposed residual racism. The wealth created by free markets and innovation, along with global trade, has lifted billions out of poverty as extreme global poverty has plunged to less than 10% from 45% in 1980 while world GDP has more than tripled.