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The fallacy of capitalism’s ‘race to the bottom’

By Filings on Mon, 04/26/21
Society & Culture
Economics
Poverty
Capitalism

“The Biden administration proposes a global minimum tax on corporations to end the ‘global race to the bottom.’ Leaving aside the wisdom of letting France tax U.S.-based corporations, this phrase recalls one of the regnant canards of our time: Capitalism inevitably lowers living standards and grinds people down into poverty.” - Acton

Related . . .

Topics: Economics, Inflation, Pew Research
  • Pew: By a wide margin, Americans view inflation as the top problem facing the country today
  • Drucker on the church that puts economics in perspective
  • The Good News About Our Economy & Families
  • How Capitalism Humanized the Family
  • False Narratives of Inequality: A Review of “The Myth of American Inequality”

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Good sense makes one slow to anger, and it is his glory to overlook an offense.

(ESV, Proverbs 19:11)

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