Abraham Lincoln once stated, "You cannot help the poor by destroying the rich. You cannot lift the wage earner by pulling down the wage payer." This quote is most consistent with what type of economic philosophy?
A) capitalist economy
B) communist economy
C) socialist economy
D) planned economy

Question

Quizplus · Accepted Answer

The quote emphasizes the importance of not destroying the rich or wage payer in order to help the poor or wage earner, which is consistent with the principles of a capitalist economy. In such an economic system, there is a focus on private ownership and individual initiative, and the free market is allowed to determine prices and production. The goal is not to redistribute wealth, but rather to encourage economic growth and development that benefits everyone.

Abraham Lincoln Once Stated, "You Cannot Help the Poor by Destroying