IPFS News Link • Welfare: Social
Welfare Spending Did Not Decrease Poverty, Capitalism Did
• https://fee.org, by Daniel J. MitchellLast September, I shared some very encouraging data showing how extreme poverty dramatically has declined in the developing world.
And I noted that this progress happened during a time when the "Washington Consensus" was resulting in "neoliberal" policies (meaning "classical liberal") in those nations (confirmed by data from Economic Freedom of the World).
In other words, pro-market policies were the recipe for poverty reduction, not foreign aid or big government.