Posted tagged ‘Thomas Sowell’

Is There A Wage Gap Between Men And Women?

April 4, 2017

The ‘gender pay gap’ is a myth which has been spread for years. I have been reading about this ‘fake cause’ since I can remember. In 1984 Thomas Sowell covered this topic in chapter 5 of his book “Civil Rights: Rhetoric or Reality”.

Here is a Prager University video by Christina Hoff Sommers explaining the statistical fudging that takes place when the gender pay cause becomes bigger than the truth.

THOMAS SOWELL  addresses this topic in my article: “The ‘Equal Pay Day’ Canard” .

In this article titled: Equal Pay Day Is An Annual Event That Spreads Statistical Misinformation About The Gender Pay Gap, by Mark J. Perry, at carpediemblog, Mark J. Perry says choices made about hours worked, type of work, and marriage and motherhood are three of the deciding factors on how much a person is paid. Women and men make different choices in these three areas. When you compare men and women who make the same decisions the wage gap is negligible.

Mark J. Perry’s article titled: “Equal Pay Day’ This Year Is April 4th – The Next ‘Equal Occupational Fatality Day’ Will Be On January 21st 2029, shows how men work in riskier jobs than women. Thirteen men die while working on the job for every one women who dies on the job. Riskier jobs pay more. Choices have consequences.

Ignorance Perpetuates This Myth.

Supposedly smart people are ignorant when it comes to the gender pay gap. Here are two articles showing this ignorance.

The Chief Operating Officer Of Facebook Appears Clueless When It Comes To The Wage Gap, at economicjournal.com.

Ivanka Wage Gap Ignorance, at economicpolicyjournal.com.

We don’t have to be ignorant about issues like this. All we have to do is look beyond the rhetoric of the people pushing the cause.

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The Quotable Thomas Sowell

January 5, 2017

Thomas Sowell retired last week from writing his weekly column for Creators Syndicate. I wrote about this earlier in the week in this post ( The Great Tomas Sowell Says Farewell To His Weekly Column ).  Dr. Sowell is my favorite author. I try to read all his stuff, which is difficult because of the staggering amount of material he has written.

Dr. Sowell does two things that are difficult when you write. 1) He makes complex and abstract concepts understandable to regular people like me. 2) He economizes on words while revealing this high degree of insight.

I heard someone say this about a particular writer he admired (I can’t recall who it was). This applies to Dr. Sowell. “I know the same words that he knows, but I can’t put them in the same order that he does“. I am so happy that Dr. Sowell’s mind sees things the way it does. His writing has brought much enjoyment to me over the years.

I have compiled some of my favorite quotes from what he has written. Here are a few.

QUESTIONS?

Here are some questions that Dr. Sowell says should be asked when analyzing a topic or discussing a particular topic with another person.

At What Cost?

Compared To What?

Is What Is Being Compared Comparable?

What Is The Real Question?

And Then What?

Who Is To Make The Decision? Through What Process? Under What Incentives And Constraints? With What Feedback Mechanisms?

PHRASES

Here are some short phrases from Dr. Sowell.

-Economic Problems Don’t Have Political Solutions.

-Perfect Justice Means Perfect Tyranny.

-Virtually Everything Is Foreseeable In Retrospect.

-Every False Diagnosis Of A condition Is An Obstacle to Improvement.

-Feedback Serves To Limit The Impact Of Errors.

-Sober Analysis Seldom Has The Appeal Of Ringing Rhetoric.

-History Is By Definition Tardy.

-Don’t Confuse Causation With Morality.

-It Takes A High I.Q. To Evade The Obvious.

-Many People Have Credentialed Ignorance.

-We Can Only Make Our Choices From Alternatives That Are Actually Available.

-Moderation Is Great, Unless It Is Taken To Extremes.

-What Is True Is Not Always Popular And What Is Popular Is Not Always True.

-Liberalism: Let My Conscience Be Your Guide.

-Everything Is The Same Except For Its Differences; and Everything Is Different Except For Its Similarities.

-The Question Is Not Whether The Glass Is Half Full Or Half Empty. The Question Is, Was The Glass Full Of Empty When You Started?

QUOTES

Here are some longer quotes about economics, freedom and politics.

-The abstract existence of knowledge means nothing unless it is applied at the point of decision or action.

-Knowledge is one of the scarcest of all resources in any economy, and the insight distilled from knowledge is scarcer still.

-Decisions differ because of the internal preferences and the external incentives facing those who make the decisions.

-Results observed at a given point in time may be part of a process that stretches far back in time.

-Envy used to be one of the seven deadly sins before it became one of the most admired virtues under its new name, “Social Justice”.

-The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

-History is not a record of people’s articulated intentions being realized so much as it is a record of entirely different things happening as a net result of mutual innumerable strivings toward mutually incompatible goals.

-The God like approach to social policy ignores both the diversity of values and the cost of agreement among human beings.

-Just as a poetic discussion of the weather is not meteorology, so an issuance of moral pronouncements or political creeds about the economy is not economics.

-People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.

-Any attempt to have rational discourse requires that those with different views have a common language in which to discuss their differences.

-The anointed are on their tiny island of knowledge, surrounded by their sea of ignorance.

-The anointed are insulated from the feedback of uncooperative reality.

-The anointed are often wrong, but never in doubt.

-Intellectuals are masters of the world of unverified plausibilities.

-It takes considerable knowledge just to realize the extent of your own ignorance.

-When you want to help people you tell them the truth. When you want to help yourself, you tell them what they want to hear.

-Wherever we want to go, we can only get there from where we are, not where we think we are. Not where we think we are, or wish we are, or where we want others to think we are, but where we are in fact right now. If we don’t have truth we don’t have anything to start with, and build on. Political spin and pious euphemisms don’t tell us where we are.

-If you have a right to someone else’s approval, than they do not have a right to their own opinions and values.

-The fatal misstep of intellectuals is assuming that superior ability within a particular realm can be generalized as superior wisdom or morality over all.

-The intelligentsia and others always fight phony wars against straw men. Why create a false issue, except to evade the real issue?

-In political competition what is being sold is not an end result, but a plausible belief about a complex process. Ergo accurate knowledge has no such decisive competitive advantage.

-The free market may work vest when there is a level playing field. But politicians win more votes by tilting the playing field to favor particular groups.

-Tests are not unfair. Life is unfair and the test measures the result.

-The test conveys a difference that already exists. It doesn’t create a difference that would not exist otherwise.

-People have to be aware of the dangers in letting economic decisions be made through political processes.

-The argument for Socialism, it sounds great; the argument against it, it doesn’t work.

-Anyone can be wrong about the future. But being wrong about the past is something else.

-If an informed citizenry is the foundation of democratic government, than an uninformed citizenry is a danger.

-Systemically evolved freedom in Colonial America later became intentionally preserved freedom in the Constitution of the United States.

-Constitutional guarantees encumber the state precisely so that the state may not encumber the people.

-More severe penalties that are not enforced are not as good as less sever penalties that are enforced.

-Lowering standards for those unable to meet them only endangers the very benefits those standards produce. Standards do not exist for no reason.

-Freedom has always been embattled where it has not been wholly crushed.

-A border dispute between Ohio and Indiana does not keep us from knowing that Columbus is in Ohio and Indianapolis is in Indiana.

-Each ethnic group tends to trail the long shadow of its own cultural history, as well as reflecting the consequences of external influences.

-Wealth in the U.S. is not distributed at all. People create it, earn it, save it, and spend it.

-Survival in the market often requires recognizing mistakes and changing course, while survival in politics often requires denying mistakes, continuing the current policies and blaming the bad consequences on others.

-Free markets efficiently allocate scarce resources which have alternative uses. This results in higher standards of living for society as a whole, along with unequal rewards to individuals, industries and regions.

-The effectiveness of the market does not depend on Government officials or intellectuals understanding it.

-The biggest difference between economic decisions in the market, and political decisions in Government is that costs are an inescapable factor in economic decisions, while political decisions can ignore costs.

-Voluntary decision-making processes have many advantages which are lost when courts attempt to prescribe results, rather than define decision-making boundaries.

-Nothing is easier than to confuse broader powers with deeper insight. But almost by definition, those with the broadest powers are the most remote from the specific knowledge needed for either deciding or for knowing the actual consequences of their decisions.

-Sometimes the ascribed status to a particular group is preferential, so that sorting and labeling that is biased in the proscribed direction is legal but any bias in a different direction is not.

-The word “crisis” has virtually become a political synonym for “situation” and indicates little more than something that someone wants to change.

-Social crusaders are not forced to confront the consequences of their choices, even in their own minds, or consciences, much less pay a tangible price for he havoc they leave in their wake while feeling noble.

-Many complaints that some basically good Government policy has been applied stupidly may fail to address the Underlying problem of catagorical laws in an incremental world.

-Nothing human has ever achieved perfection. So the fact that intellectuals can always imagine something better than the vest that exists in reality is hardly surprising.

-Justice of any sort, criminal justice as well as so-called “social justice”, implies the imposition of a given standard on people with different standards.

-What is politically defined as economic planning is the forcible superseding of other people’s plans by Government officials.

-The claim that costs are “prohibitive” is to miss the whole point of costs, which is precisely to be prohibitive. Costs transmit inherent limitations of resources compared to the desires for them, but do not create this fundamental disproportionately.

-All costs are prohibitive to some degree, and virtually no costs are prohibitively absolutely.

-Where prices are set by Government fiat, they convey no information as to ever-changing economic trade-offs…. Price changes are virtually instantaneous, while statistics available to planners necessarily lag behind.

-If prosperity could come only from the united efforts of upright and noble-minded people, all of mankind would still be sunk in poverty.

-Everyone must live in the world of reality. To the extent that reality has been filtered to fit a vision, this filtered information is a misleading guide to making decisions in an unforgiving reality, to which we must all adjust because it is not going to adjust to us.

-The same man is not equal to himself on different days, much less at different periods of life.

 

If this seems like a lot, this is just the tip of the iceberg. If you can remember some of these statements by Dr Sowell, especially the questions that should constantly be asked, you will start seeing the world through a different lens.

 

 

Thomas Sowell: Random Thoughts

November 1, 2016

Thomas Sowell

Here are some of Thomas Sowell’s recent Random Thoughts (click here). Dr. Sowell’s greatest gift is he always makes us think.

-“It is astonishing that some people think that the answer to the problems of ObamaCare is to go to a “single payer” system. But “single payer” is just another way of saying “government monopoly.” does anyone pay attention to how government monopolies operate – from the local DMV to Veterans Administration hospitals?

-“Politics has turned the lofty ideal of equality into the ugly reality of resentments of other people’s achievements – and a feeling that the world owes you something, while you owe nobody anything, not even common decency.”

-“Why  should the fate of the economy depend on the guesswork of the Federal Reserve – and the guesswork of the stock market about what the Federal Reserve will guess?”

“Politicians have learned to call their spending of the taxpayers’ money “investment, ” even when it is just pouring money down a bottomless pit, in order to win votes from the recipients.”

-“Hillary Clinton has performed the verbal magic of turning her years of repeated disastrous decisions in foreign policy into a political asset called “experience.

-“The political left’s hatred of Donald Trump is ironic, because both he and they have the same pattern of automatic demonizing of those who disagree with their views, rather than confronting opposing arguments with hard evidence or convincing logic.

“Have we reached the ultimate stage of absurdity where some people are held responsible for things that happened before they were born, while other people are not held responsible for what they themselves are doing today?

-“If the media seriously wanted to report the news – instead of spinning it – they could stop calling rioters “protesters” and stop calling terrorists “militants.”

“Each political party has picked a loser this year. Unfortunately, one of them is going to win, and then the whole country can lose, big time.

-“One of the mysteries of the ages is why the political left has, for centuries, lavished so much attention on the well-being of criminals and paid so little attention to their victims.”

“The monumental tragedies of the 20th century – a world-wide Great Depression, two devastating World Wars, the Holocaust, famines killing millions in the soviet Union and tens of millions in China – should leave us with a sobering sense of the threats to any society. But this generation’s ignorance of history leaves them free to be frivolous – until the next catastrophe strikes, and catches them completely by surprise.”

 

Related ArticleThomas Sowell, “The Point Of No Return“, at austrianaddict.com.

Related ArticleThomas Sowell: Random Thoughts, at austrianaddict.com.

Related ArticleThomas Sowell” Random Thoughts On The Passing Scene, at austrianaddict.com.

Related ArticleThomas Sowell: Random Thoughts, at austrianaddict.com.

Related ArticleRandom Thoughts By Thomas Sowell, at austrianaddict.com.

Thomas Sowell: Academic Curtain vs. Iron Curtain

October 11, 2016

Thomas Sowell

My favorite writer is Thomas Sowell. As I’ve said many times; he writes about complex concepts in a manor that regular people like me can understand. If I hadn’t stumbled across Thomas Sowell in 95, I wouldn’t have had the fundamental base to understand Mises, Hayek, Rothbard, etal.

His recent article titled, The Academic Curtain (read here), is just another example of his ability as a communicator and teacher.

In this article he compares the Iron Curtain surrounding the Communist bloc of nations and the “Academic Curtain” surrounding our educational system in general and college education in particular.

The Iron and the Academic Curtains isolate the people inside of them from ideas which are not in line with what the Communists or Academics want their subjects to hear. The conventional wisdom pushed by the anointed is that a centrally planned economy is superior to a free market economy and the individual is subordinate to the state.

Here are some excerpts from the article:

“Back in the days of the Cold War between the Communist bloc of nations and the Western Democracies, the Communists maintained pervasive restrictions around Eastern  Europe that were aptly called an “iron Curtain,” isolating the people in its bloc from the ideas of the West and physically obstructing their escape. “

“One of the few things that could penetrate the “iron curtain” were ideas conveyed on radio waves. “the Voice of America” network broadcast to the peoples of the Soviet bloc, so that they were never completely isolated, and hearing only what the Communist dictatorships wanted them to hear.”

“Ironically, despite the victory of democracy over dictatorship that brought the Cold War to an end, within American society there has slowly but steadily developed in too many of our own colleges and universities a set of restrictions on what can be said on campus either by students or professors or by outside speakers with views that contradict the political correctness of our time.”

“There is no barbed wire around our campuses, nor armed guards keeping unwelcome ideas out. So there is no “iron curtain.” But there is a curtain, and it has its effect.”

“One effect is that many of the rising generation can go from elementary school through postgraduate education at our leading colleges and universities without ever hearing a coherent presentation of a vision of the world that is fundamentally different from that of the political left.”

“.…Despite the fervor with which demographic “diversity? is proclaimed as a prime virtue – without a speck of evidence as to its supposed benefits – diversity of ideas gets no such respect.

“Students are unlikely to go through college without being assigned to read “The Communist Manifesto” – often in more than one course – while a classic like “The Federalist” is seldom assigned reading, even thought it is a very readable and profound explanation of the principles on which the Constitution of the United States is based, Written by three of the men who actually wrote the Constitution.”

While there is no “iron curtain” around our campuses, there is a curtain, and its effects are dangerously close to the effects produced by the “iron curtain” around the Soviet bloc. What is lacking is anything like the Voice of America broadcasts to pierce the academic curtain.

In an electronic age, there are plenty of sources from which forbidden facts and suppressed views can be beamed into the many electronic devices used by college students.” There are many recorded speeches and interviews of outstanding thinkers, from the past and the present, with viewpoints different from the prevailing groupthink on campus and these can be presented directly to students with electronic devices.”

“Someone from the real world beyond the ivy-covered enclaves would have to do it. And it is not yet clear who would do it or who would finance it. Perhaps some of those donors who have kept on writing checks to their alma maters, while the latter surrendered repeatedly to ideological intolerance, might consider such a project. Campus mob could not shout down thousands of scattered iPads.”

 

BONUS VIDEO OF THOMAS SOWELL.

The Hoover Institute presents Thomas Sowell on Uncommon Knowledge talking about his book, Wealth Poverty and Politics, with Peter Robinson.

Theme of the book: “There is no explanation needed for poverty. The species began in poverty. So what you really need to know is what are the things that enabled some countries, some groups within countries, to become prosperous.”

 Related ArticleThomas Sowell: The Economics and Politics Of Race, at austrianaddict.com.
Related ArticleObservable Differences Between Cultures, at austrianaddict.com.
Related ArticleEducation System Is A  Monopoly  Of The Political Left, at austrianaddict.com.
 Related ArticleThomas Sowell’s Vision of The Anointed, at austrianaddict.com.

 

Must Reads For The Week 9/17/16

September 17, 2016

Clinton And Trump (Clump?) vs. Tax Payers And Free Enterprise, by Dan Mitchell, at freedomandprosperity.org. Big Government wins no matter who wins the election. Your choice is between Bud and Bud Lite.

Racial Issues, by Thomas Sowell, at jewishworldreview.com. Thomas Sowell asks, do black lives matter when it comes to education.

State Dept. Gave Millions To Foundation Led By John Kerry’s Daughter, Bre Payton, thefederalist.com. This is another example of the politically connected getting access to tax payers money laundered through the government. Didn’t John Kerry park his Yacht in Rhode Island so he didn’t have to pay Massachusetts taxes?

Markets In Everything: Exotic Car Registration In Montana, by Mark J. Perry, at carpediemblog. I love it when people figure out ways to get around the edicts of Government.

Colorado’s Anti-Fracking Crack-Up, at michellemalkin.com. Two anti-fracking initiatives don’t get enough signatures to get on the ballot in  Colorado. People are starting to understand that fracking is good.

Americas’ Trust In  Mass Media Plunges To Record Low, at zerohedge.com. Is anyone shocked by this? The number will plunge more as they continue to drive the getaway car for Hillary.

The Heroic Central Banker Who Has Rejected Keynesianism, at economicpolicyjournal.com. If you have to have a central bank, Russia’s Central Banker Elvira Nabiullina is who you want to be in charge. Excerpt from the article: “Nabiullina told a banking conference in the Black Sea resort city of Sochi today. Keeping real interest rates stable in positive territory is an “important condition for healthy economic growth,” she said. The main drivers of growth should be “fixed investment, structural changes in the economy and efficiency increases,” Mabiullina said. “It’s necessary to safeguard household deposits against inflationary depreciation to support a high level of savings and to create the conditions to transform them into investment.”  There is no central banker in the world who talks like this. Why can’t we trade Janet Yellen for Elvira?

Prices controls Work No Better In America Than In Venezuela, by Andrew Quinlan, at freedonandprosperity.org. Price controls don’t work. Anyone who lived through Nixon’s price controls understands this.

Harvard Crushes The “Obama Recovery” Farce With Nine Simple Charts, zerohedge.com. Even Harvard knows the Obama recovery is a media creation that has no basis in reality.

Where’s The Demand? Oil Prices Drop Again, by Ryan McMaken, at mises.org. As the price of oil drops you would think that the demand would increase at the lower price. But that is not the case. Does this show how weak our economy actually is? I try to answer this question in this article titled, Gasoline Consumption Is Down, Why?

The Fed Plans For The Next Crisis, by Ron Paul, at mises.org. The Fed is on a quixotic adventure that they can’t win.

 

THIS CARTOON IS THE ELECTION IN A NUT SHELL

Political Cartoons by Steve Kelley

Thomas Sowell: Black Votes Matter

August 1, 2016

Thomas Sowell explains political incentives when it comes to wooing black voters in this article titled “Black Votes Matter” (click here). Let’s read some excerpts from the article.

Black votes matter to many politicians – more so than black lives. That is why such  politicians must  try to keep black voters fearful, angry and resentful. Racial harmony would be a political disaster for such politicians.”

Racial polarization makes both the black population and the white population worse off, but it makes politicians who depend on black votes better off.”

“People who expected the election of President Barack Obama to lead to racial healing and a post-racial society failed to take account of the political reality that racial healing and a post-racial society would, at a minimum, reduce black voter turnout.”

Hillary Clinton desperately needs black votes in this year’s close election. Promoting fear, anger and resentments among blacks – and , if possible, paranoia – serves her political interest. Barack Obama has mastered the art of keeping black voters aroused while keeping white voters soothed – thanks in part to the gullibility of much of the public, who mistake geniality and glib rhetoric for honesty and good will.

Obama has repeatedly put the weight and prestige of the presidency on the side of those who denounce the police before any facts are verified – and even after facts have come out, exposing the fraudulence of such claims as the claim that the “gentle giant’ Michael Brown said, “hands up, don’t shoot.”

“When a career race hustler like Al Sharpton, with a history of hoaxes, is a regular visitor and advisor to the White House, that is a reality that whites and blacks alike ignore at their peril.

Hillary Clinton plays the same political game of posing as a defender of blacks from enemies threatening them on all sides, as she tries to win an election that would amount to a third term of the Obama administration’s policies – most of which have left blacks worse off than before Obama took office.”

“The Ancient phrase, “By their fruits ye shall know them” has been replaced by the current notion that by their rhetoric you should judge them – and vote for them.”

One of the key questions this election year is whether black lives matter more than black votes that can be won by racial charades that undermine and endanger those lives. The answer to that question will affect all Americans, because racial turmoil is to no one’s interest, except some politicians and race hustlers.”

 

Walter E. Williams: What Can Discrimination Explain?

In this related article, What Can Discrimination Explain? (click here), Walter E. Williams looks at racial discrimination to see how much blame it has for the plight of blacks. Here are some excerpts from the article:

Racial discrimination is seen as the cause of many problems of black Americans. No one argues that racial discrimination does not exist or does not have effects. The relevant question, as far as policy and resource allocation are concerned, is: How much of what we see is caused by current racial discrimination?

“Some argue that it is the “legacy of slavery” and societal racism that now explain the social pathology in many black neighborhoods…..When I was a youngster, during the 1940’s illegitimacy was around 15 percent. In the same period, about 80 percent of black children were born inside marriage……Today only a little over 30 percent of black children are raised in two-parent households. The importance of these and other statistics showing greater stability and less pathology among blacks in earlier periods is that they put a lie to today’s excuses. Namely, at a time when blacks were closer to slavery, faced far more discrimination, faced more poverty and had fewer opportunities, there was not the kind of social pathology and weak family structure we see today.”

Intellectuals and political hustlers who blame the plight of so many blacks on poverty, racial discrimination and the “legacy of slavery” are complicit in the sodio-economic and moral decay. But one can earn money, prestige and power in the vistimhood game. As Booker T. Washington long ago observed, “there is another class of coloured people who make a business of keeping the troubles, the wrongs, and the hardships of the Negro race before the public. Having learned  that they are able to make a living out of their troubles, they have grown into the settled habit of advertising their wrongs – partly because they want sympathy and partly because it pays. Some of these people do not want the Negro to lose his grievances, because they do not want to lose their jobs.

 

Related ArticleThomas Sowell: The Economics And Politics Of Race, at austrianaddict.com.

Related ArticleThe ‘Disparate Impact’ Racket, by Thomas Sowell, at austrianaddict.com.

Related ArticleMichelle Obama vs. Thomas Sowell On The Politics Of Race, at austrianaddict.com.

 

Socialism Sounds Great

June 1, 2016

The definition of socialism is, government ownership of the means of production. Many countries we call socialist today, don’t actually own the means of production, they just encumber the private owners of the means of production with rules, regulations, and taxes to the point that the businesses have limited freedom to make decisions concerning their business. Government is the silent partner with businesses today. Silent from the stand point of what the public sees, but boisterous from the businesses point of view. “Socialism” today is nothing more than a modern day version of fascism, corporatism, mercantilism, or simply interventionism.

Thomas Sowell

SOCIALISM FOR THE UNINFORMED

In this article, Socialism For The Uninformed (read here), Thomas Sowell gives his insight into, not only what modern-day socialism is, but where it leads. Here are some excerpts from the article.

Socialism sounds great. It has always sounded great. And it will probably always continue to sound great. It is only when you go beyond rhetoric, and start looking at hard facts, that socialism turns out to be a big disappointment, if not a disaster.”“While throngs of young people are cheering loudly for avowed socialist Bernie Sanders, socialism has turned oil-rich Venezuela into a place where there are shortages of everything from toilet paper to beer, where electricity keeps shutting down, and where there are long lines of people hoping to get food, people complaining that they cannot feed their families.”

“With national income going down, and prices going up under triple-digit inflation in Venezuela, these complaints are by no means frivolous. But it is doubtful if the young people cheering for Bernie Sanders have even heard of such things, whether in Venezuela or in other countries around the world that have turned their economies over to politicians and bureaucrats to run.”

“The anti-capitalist policies in Venezuela have worked so well that the number of companies in Venezuela is now a fraction of what it once was. That should certainly reduce capitalist “exploitation,” shouldn’t it?”

But people who attribute income inequality to capitalists exploiting workers, as Karl Marx claimed, never seem to get around to testing that belief against facts — such as the fact that none of the Marxist regimes around the world has ever had as high a standard of living for working people as there is in many capitalist countries.”

“Facts are seldom allowed to contaminate the beautiful vision of the left. What matters to the true believers are the ringing slogans, endlessly repeated.”

“…..But the very idea of subjecting their pet notions to the test of hard facts will probably not even occur to those who are cheering for socialism and for other bright ideas of the political left.”
The great promise of socialism is something for nothing. It is one of the signs of today’s dumbed-down education that so many college students seem to think that the cost of their education should — and will — be paid by raising taxes on “the rich.”

“Here again, just a little check of the facts would reveal that higher tax rates on upper-income earners do not automatically translate into more tax revenue coming in to the government. Often high tax rates have led to less revenue than lower tax rates.”

“In a globalized economy, high tax rates may just lead investors to invest in other countries with lower tax rates. That means that jobs created by those investments will be overseas.”

None of this is rocket science. But you do have to stop and think — and that is what too many of our schools and colleges are failing to teach their students to do.”

 

 THE LEFT’S SUPPORT OF STATE OVER PROSPERITY
-In this article, Chili, Venezuela, And The Left’s Support Of State Over Prosperity (read here), Dan Mitchell shows the difference between Chili and Venezuela over the last 40 years. Look at the data in the charts from this article. It shows that when a government allows more economic freedom than currently exists, production increases. Since production is the creation of wealth, the country becomes wealthier. When a government takes economic freedom away where it has existed in the past, production decreases. Lower production leads to less wealth creation and ultimately a poorer country. Chili and Venezuela are countries going in very different directions.
 -Here are some excerpts from the article.
 -“Chile’s success starts in the nid-1970’s when Chile’s military government abandoned socialism and started to implement economic reforms. In 2013 Chile was the world’s 10th freest economy. Venezuela, in the meantime, declined from being the world’s 10th freest economy in 1975 to being the world’s least free economy in 2013.”
 -“Chile is not a perfect role model, to be sure, because of an unsavory period of military rule. But the good news, is that economic liberty has led to political liberty. whereas the opposite has happened in Venezuela.”
 -“…..as the people of Chile grew richer, they started demanding more say in the running of their country. Starting in the late 1980’s the military gradually and peacefully handed power over to democratically elected representatives. In Venezuela the opposite has happened. As the failure of socialism  became more apparent, the government had to resort to ever more repressive measures in order to keep itself in power.”
 -“Yes, it’s very desirable for all citizens to benefit from economic growth. But if you look at the charts in the article, it’s abundantly clear which nation is producing better outcomes from average citizens.
this is fundamental flaw of Statists. By fixating on redistribution and equality, this leads them to policies that re-slice a shrinking economic pie.
 Related ArticleWhy Socialism Won’t Work? Human Nature, at austrianaddict.com.

Related ArticleMilton Friedman – Socialism Is Force, at austrianaddict.com.

 Related ArticleAmerica’s Socialist Origins, by Prager University, at austrianaddict.com.
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