Conservative Politics Today

by Guinevere Nell, James Sherk and Paul L. Winfree
Center for Data Analysis Report #08-07

An enduring criticism of free markets is that they are based on self-centered greed. Commentators on the left deride American capitalism as “You’re on your own” economics, in contrast to the social dem ocratic vision of “We’re in this together.”[1]

Many observers admit that free markets create immense wealth and high standards of living, but also believe free markets encourage self-interest and reward greed. Seeking to earn Bill Gates’s level of wealth can seem inherently selfish.

But the fact that the American economy rewards individual initiative does not signify that it pro motes greed. In this paper, evidence is presented that supports that the philanthropic actions of entrepreneurs, measured by the size of their chari­table contributions as a portion of income, are 80 percent greater than the rest of the population. This suggests that those who benefit the most from the free market are motivated by more than narrow self-interest—and give the most back.

For the rest of this eye opening study, click HERE

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