10 Things You Didn’t Know About Capitalism

by Austin Petersen

#10: Over 1 Billion Saved

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Almost one billion people have been lifted out of extreme poverty in recent decades, thanks to capitalism. Between the years 1990 and 2010, the extreme poor have had their numbers fall by half as a share of total population in developing countries, that’s almost 1 billion people by 2010, and is likely over a billion by now.

How did this happen?

Poverty rates started to collapse because developing country growth accelerated. From 1960-2000 average growth was 4.3%, and from 2000-10, it was 6%. The Economist estimates that about two-thirds of poverty reduction comes from economic growth.

That’s capitalism for you!

Austin Petersen is a homegrown Missourian with a lifelong passion for liberty. He grew up on a horse farm in Peculiar, Missouri and went on to attend Missouri State University, graduating with a degree in the Fine Arts. After developing a career in media in both New York City and Washington, D.C., he returned to Kansas City, MO, the city he now calls home. In 2016, Petersen appeared on the national stage as a candidate for president of the United States. He took second place in the crowded Libertarian primary behind Governor Gary Johnson and ahead of cyber security maverick John McAfee. During his campaign, Petersen earned many high-profile conservative endorsements, including Mary Matalin, Erick Erickson and Leon Wolf of RedState.com. Petersen also brings decades of professional experience in a wide variety of fields, from content production and media to business and political activism. He is the owner and chief executive of Stonegait LLC, a consulting firm specializing in photo and video services. He was also the director of production at FreedomWorks and an associate producer for Judge Andrew Napolitano’s show “Freedom Watch” on the Fox Business Network. Additionally, Petersen has a national following as a commentator and professional pundit. He is the founder of The Libertarian Republic, a powerful online news source for the public that receives an average of 1 million unique visits monthly and whose podcast, The Freedom Report, receives an average of one million monthly downloads. He is also a frequent contributor on television, appearing on Fox News, Fox Business, CNN, MSNBC and on dozens of local radio shows.

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