To: Rolla Coasta who wrote (9533 ) 3/6/2000 9:23:00 AM From: Liatris Spicata Read Replies (2) | Respond to
Ernest-anybody , but the truth is I don't know a lot about Hong Kong. But seriously, I do understand there are a lot of poor people in Hong Kong, even though it has been an enormous wealth generator for decades. Hong Kong is, or at least has been, in a highly unusual situation created by its unique political constraints. But in answer to your question, under laissez-faire capitalism (of which Hong Kong is arguably the world's leading example), the rich get richer, and the poor get richer too. Capitalism is not a zero sum game. I'd question whether or not the poor in Hong Kong have truly gotten poorer, unless your time horizon is two years or less and you are looking at the effects of financial crisis from which East Asia is still recovering. But if the poor are becoming poorer, the answer is to create an opportunity society, which, among other things, requires that people are free to keep the products of their labors, or even of their good luck. Property rights must be respected. A question I might ask you: are the children of the poor in Hong Kong also destined to a life of poverty? You probably need a 50 year historical time frame to answer that question. A friend of mine from the former Soviet Union once confided that one of the things she most admired about the USA was that someone born into a poor family was able to rise to a position of eminence and success, as long as he or she had the right personal qualities. This was in stark contrast to her native land.
