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Economic Growth Solves Most Problems - FINANCIAL-24

Today's Wall Street Journal has an article with an interesting headline: "Tight Labor Market Eases Disparities."  What does that mean?  The key sentence in the article is the following: "...as the labor market tightens, minority workers are now making some of the fastest gains."

Just as the lack of economic growth punishes the bottom half of the wealth and income distribution, faster economic growth lifts under-water boats the most.

If you care about economic inequality, then economic growth should be your ticket.  Unfortunately, those who decry economic inequality push policies that guarantee permanent income inequality -- policies that provide for slower economic growth.

Every single policy initiative of the left reduces real and potential economic growth.   There are no exceptions.  This means that the rich and the protected bureaucrats will flourish under the policies of the left (as they did in Soviet Russia, modern day Cuba and Venezuela).  The victims of the policies of the left are poor people, minorities and other defenseless folks.

You don't see poor people pushing for leftist policies.  It is no accident that the wealthiest Congressional districts in the US elect folks like Nancy Pelosi.  Lower middle income districts gave Trump his victory.  These folks are victims of slow-growth policies pursued by Pelosi and her like-minded plutocrats.

If you want to help poor people and minorities, stop pushing policies that undermine their chances.  Bureaucracy and regulation help the protected and privileged.  These policies harm the average or below average wealth and income groups in our society.  Only free markets deliver for poor people.  Only free markets have ever delivered for poor people.  The rich and the bureaucrats have always done well and always will in no-growth economies.  The poor and the disenfranchised must have economic growth in order to prosper.

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