Ebenezer Scrooge the Philanthropist

James E. Miller
President Barack Obama's biggest Christmas wish of raising taxes on the rich isn't coming this year. Thankfully the season of giving won't be ruined by the federal government's appetite for more revenue. Christmas often brings stories of selfless altruism.  One holiday favorite in particular contains both a tinge of irony and a neglected lesson in economics.  This lesson is crucial for understanding how standards of living are raised the world over. Much to the joy of wealth redistribution types, it turns out that the real life individual who inspired Charles Dickens' famous character Ebenezer Scrooge was actually related to renowned free market economist Adam Smith.  From The Scotsman: The real "Scrooge", an Edinburgh merchant, could not have been more different from his literary counterpart. But the gloaming of an evening in the Capital, allied with an episode of mild dyslexia suffered by Charles Dickens, has forever associated Ebenezer Lennox Scroggie with one of...(Read Full Post)

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