Want to end poverty? Promote capitalism, not socialism

“ Can’t #endpoverty without ending capitalism,” claimed a recent post on Teen Vogue, an online-only media organ that's part of an empire estimated to generate hundreds of millions of dollars in revenue each year.

Ironically, Teen Vogue is owned by Conde Nast, a company that wouldn’t exist were it not for capitalism. That should shed some light on the credibility of Teen Vogue’s claim. The reality is, all attempts to indoctrinate the youth with failed ideologies aside, that we need more capitalism and less socialism to end poverty.

Capitalism is an economic system based on the idea of the free market. Instead of using central planners and compulsion, a free-market economy harnesses the natural incentives of millions and billions of individuals to pursue their own self-interest, and from these forces it produces widespread prosperity.

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