Book of the Day: Hailed as the guide to capitalism when it first appeared in 1981, Wealth & Poverty is one of the most famous economics books of modern times. In it Mr. George F. Gilder argues that supply side economics and free market policies are the answer to decreasing America’s poverty rate and increasing her prosperity. He also presents arguments for the moral superiority of free-markets. Mr. Gilder goes on to suggest that supply side economics is more effective at decreasing poverty than government-regulated markets. In this new and updated edition, Wealth and Poverty: A New Edition for the 21st Century, Mr. Gilder compares America’s current economic challenges with her past economic problems, particularly those of the late 1970s, and makes the case that President Obama’s big-government, redistributive policies are doing more harm than good for the poor.
“The great temptation and delusion of socialist regimes is to attempt to guarantee the value of things rather than the ownership of them. This was also the great mistake of the Bush and Obama administrations’ response to the crisis of 2008. Value depends on dedicated ownership. In the United States, until recent socialist slippage, the Constitution guarantees only the right to property, not the worth of it.” – George Gilder