Essay on critical response

Submitted By aleross
Words: 355
Pages: 2

2) According to Sowell, what is the new China doing now which its citizens did not do before? What is this “new” model of economics used by China? Is it really new? Why is it successful?

According to Sowell, China is “lifting a million people a month out of poverty” by creating its own wealth. It’s not the Chinese government that is raising the country. In fact the government job consists in redistributing the wealth (created by the people) through taxes. China started to grow again when the capitalism system was adopt, and people had more opportunities to create their new wealth. This system isn’t new; other nations have used it before. The system is quite successful and brings benefit for everyone: citizens, foreigners, and the government. 4) What is the difference between the creation of new wealth and redistribution of static or unchanging wealth? Which would you prefer and why?
The creation of new wealth is when more money gets into the economic system. Redistribution is when the government takes the money and try to distribute it more equally in the society. Creation of wealth should be the number one solution to contrast poverty, because even if there is a good redistribution of wealth (from wealthy to poor people), poverty can’t be contrasted if there is general little amount of money in the country. 5) Conservatives advocate individual economic freedom and the creations of wealth; liberals advocate dependence upon the state or government programs and…