Much political capital has been gained by espousing the view that, "the rich keep getting richer, while the poor get poorer." This is a standard, and quite effective weapon of the class warriors. Those who view themselves as poor are driven to envy and resentment against the rich by such phrases...and this resentment drives their voting choices.
But what is the truth? Are the rich getting richer at the expense of the poor? Are the poor getting poorer over the years? Steve Horwitz, economics professor at St. Lawrence University, explains the facts behind the rhetoric in this video for LearnLiberty.org.
But what is the truth? Are the rich getting richer at the expense of the poor? Are the poor getting poorer over the years? Steve Horwitz, economics professor at St. Lawrence University, explains the facts behind the rhetoric in this video for LearnLiberty.org.
