In a recent letter, the writer denigrated a store for being driven by economics. I certainly would hope so! Look at the clothing you are wearing, the furniture you are using, the books you read, the food you consume. How long do you think those things would be available if no one could make money producing them? Could you make all those things for yourself, or is it simpler to trade some of your money for them?
Countries have tried outlawing profit. The result was famine and social destruction. People were not motivated to work and produce, since they could not keep the rewards.
A study at Yale University and the Brookings Institution indicates that in just 30 years — 1981 to 2011 — the world's population living below the extreme poverty line decreased from 52 percent to 15 percent. The study points to the rise of globalization and capitalism as the main drivers of the decline in poverty, noting that countries which have displayed the greatest success have been most engaged with the global economy.
History shows that as trade increases, poverty decreases. The growth of international trade over the last 30 years has caused a revolution in living standards for hundreds of millions of people around the world.
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