EVERY so often, you hear grotesquely wealthy American chief executives announce in sanctimonious tones the intention to use their accumulated hundreds of millions, or billions, “to lift people out of poverty.” Sometimes they are referring to Africans, but sometimes they are referring to Americans. And here’s the funny thing about that: In most cases, they have made their fortunes by impoverishing whole American communities, having outsourced their manufacturing to China or India, Vietnam or Mexico.
Buried in a long story about corruption in China in The New York Times a couple of months ago was the astonishing fact that the era of “supercharged growth” over the past several decades had the effect of “lifting more than 600 million people out of poverty.” From handouts? From Habitat for Humanity? From the Clinton Global Initiative?