Wealth creation explained

'In one ten-minute stroke, Bill Whittle once again gets to the heart of the political and philosophical divide over wealth and wealth creation. Is the economic system a closed system in which wealth must be managed as in a shortage model, or is it an open-ended process that creates a natural expansion of wealth? Whittle explains how the latter is true, and why, in his new Firewall video supporting the Tea Party grassroots movement:




This really is the fundamental economic divide between the Left and Right. If one believes that wealth is a zero-sum game and that people can only accrue wealth at the expense of others, then redistributionism and socialism make perfect sense (except that neither works in practice, which comes into play in a moment). If, however, wealth creation is an unlimited process and real wealth can and does grow, then open markets and something approaching laissez-faire makes more sense for an economic system.'

Do watch the whole video and remember the arguments the next time you are confronted by a Socialist or BBC journalist.