Friday, October 25, 2013

Quotes we live by: Past Lecture Special

In the Ed Crane Liberty Lecture Event hosted by GMU Econ Society and the Future of Freedom Foundation:

Ed Crane covered many areas in his lecture, one of which: discussed the way in which wealthy individuals such as Gate and Buffet, spend large sums of their money in hopes of healing poverty. Poverty however, is not healed through the act of giving. Ed Crane argued the cure as- wealth creation:

...I had this argument with Bill Gates. Of course you want to spend all this money to help people right now, but wouldn’t it worth while for people of your means to spend more time talking about the institutions that create a society where these pathologies go away? ...and in doing so get rid of all this nonsense. We know what the answer is. The issue is not what causes poverty. Poverty is mans natural state. The issue is what causes wealth creation? There's so little in this world devoted to explaining reasons why people create wealth, and we don’t give enough attention to that.”  

 -Ed Crane in GMU Econ Society Liberty Lecture Series on Oct 24, 2013

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