Friday, June 20, 2008

Laffer and JFK : The Wonders of the Market

Economist Arthur Laffer to graduates of Mercer University:

Pursuing your dream of prospering will benefit everyone . . . When I graduated from Yale University, we had a serious commencement speaker not like the one you are stuck with today. The commencement speaker was President John F. Kennedy. And the point I'm making today is the same point he made all those years ago. He said, "No American is ever made better off by pulling a fellow American down, and all of us are made better off whenever any one of us is made better off." He concluded by using the analogy that "a rising tide raises all boats."

Never forget or be ashamed of the fact that pursuing your own self interest furthers everyone's interest. Without you, the poor would be poorer.

1 comment:

James said...

Still convinced about "the wonders of the market"? Is it really the case that "pursuing your own self interest furthers everyone's interest"? Is not such an absolute assertion antithetical to the gospel (cf. Philippians 2:3ff)? What about morality, the reality of sin, and the call to imitate Christ?