This is part 2 of a lecture by Mike Winther talking about foreign aid from a biblical perspective as it applies to debate and analyzing different sides. He talks about concern for the poor and how to help them. Mike discusses two reasons why people are poor. It's either from some type of disability or bad government. Lack of liberty keeps people poor.
Mike talks about the advantages of small government, incentive to do better, and property rights. It's important to have a fair court system for disputes. People get poor when voluntary exchange isn't allowed. Not being able to keep capital makes people poor. Mike talks about how the government makes poverty worse. If you are a fan of property rights, free trade, and rule of law this episode is for you.
You'll Learn:
[01:20] Many people are concerned with how to take care of the poor. Knowing why people are poor is our chance to fix it. People are poor because of a disability or bad government.
[02:29] Based on our natural resources America should be richer.
[03:28] People are poor because the governments don't give them liberty.
[04:24] America was able to prosper, because it had the smallest government.
[04:51] Property rights need to be recognized in order to prosper.
[05:59] Rule of law or enforcing minimal laws.
[10:09] There's nothing the government can do to fix poverty except to stop doing the wrong things.
[13:24] If we were taxed less, we could help more people. We can take care of the orphan and widow through voluntary means.
[18:47] Mike uses an example of a tropical island and who wants to be rich and poor on the island. He also talks about hiding assets and helping the poor as it pertains to taxes.
[19:37] The island gets an IRS agent, a tax collector, and social worker.
[20:45] Taxing people reduces the incentive to work.
[23:46] Taxation leads to economic loss.
[29:52] Prices go up when there are less goods and services.
[33:17] We can't help the poor enough to make up for a system that causes poverty.
[36:02] Regulations add taxes and decrease productivity. Our spiritual enemy likes poverty and hates productivity.
[39:30] Principle versus practicality. What's right and what works.
[41:18] Public versus private.
[41:57] The source versus the use.
[42:40] Economic systems. The free market versus socialism.
[43:13] Central planning versus laissez-faire.
[45:47] People need the government to let them live a life of liberty where they can do their own planning.
