Posted tagged ‘Thomas Sowell’

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

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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.
 Related ArticleCapitalism vs. Crony Capitalism, at austrianaddict.com.

Thomas Sowell: Commencement Season

May 25, 2016

As only he can do, Thomas Sowell breaks down the purposes of most commencement speeches in this article titled, Commencement Season (click here). Here are some excerpts from the article.

“Two themes seem to dominate Commencement speeches. One is shameless self-advertising by people in government, or in related organizations supported by the taxpayers of donors, saying how nobler it is to be in “public service” than working in business or other “selfish activities”. In other words, the message is that it is morally superior to be in organizations consuming output produced by others than to be in organizations which produce the output. Moreover, being morally one-up is where it’s at.”

“The second theme of many Commencement speakers, besides flattering themselves that they are in morally superior careers, is to flatter the graduates that they are now equipped to go out into the world as “leaders” who can prescribe how other people should live. In other words, young people, who in most cases have never had either the sobering responsibility and experience of being self-supporting adults, are to tell other people – who have had that responsibility and that experience for years – how they should live their lives.”

In so far as the graduates go into “public service” in government…..They are to help order other people around.”

“….what commencement speakers are suggesting is that inexperienced young graduates are to prescribe, or help dictate, to vast numbers of other people who have the real world experience that the graduates themselves lack.”

“To the extent that such graduates remain in government – “public service” – they can progress….. never acquiring the experience of being on the receiving end of their prescriptions or dictates. That can mean a lifetime of people with ignorance presuming to prescribe to people with personal knowledge.”

Does this sound like President Obama! (my comment)

“However well-educated the students might be in particular narrow fields – and, in too many cases, they have not gotten even that – what the graduates might have, at best, is a foundation for acquiring the real world experience necessary to complete their education and fulfill the ancient admonition, “With all you getting, get understanding.”

“Presumption is not understanding. It is the antithesis of understanding.”

“It was my good fortune not to have gone to college until I was several years older than most people. At an age when too many young people have been told too often how brilliant and exceptional they are – presumably to promote “self-esteem” – I was working at unskilled labor jobs and struggling to buy food and pay my room rent.”

“I learned the hard way that the good grades I had earned before dropping out of school were of no use to me in my low-level jobs. No one told me how brilliant I was. They were too busy correcting my mistakes.”

“It was painfully obvious that adults around me understood much more about their work – and about life. This taught me inescapable lessons and respect for people who had no academic pretensions but a lot of common sense.”

“It would take a lot more than lofty Commencement speeches to undo those lessons. We all have windfall gains and windfall losses. But, all in all, I feel lucky compared to those graduates who are so vulnerable to slick Commencement speakers.”

CONSLUSION

Dr. Sowell has written many books (to see list click here) about the “towering presumptions” of the anointed in government. Here is a quote by Dr. Sowell that sums up what he thinks about the anointed:

“People who are very aware that they have more knowledge then 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.

Here is a shorter summation by Dr. Sowell:

“Credentialed ignorance is still ignorance”

 

Related ArticleGeorge Will Outlines What Should Be In Every Commencement Speech, at austrianaddict.com.

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

Related ArticleBest Commencement Speech Ever, Adm. McCraven Gets My Vote, at austrianaddict.com.

 

 

 

 

Education System Is A Monopoly Of The Political Left

May 18, 2016

Thomas Sowell

In this recent article by Thomas Sowell titled, Dry Rot In Academia (click here), he makes this statement: “Today one can literally go from kindergarten to becoming a graduate student seeking a PH.D., without ever hearing a vision of the world that conflicts with the vision of the left.”

I’ve coached in high school for decades. My players, most of whom end up just being students in college, tell me about the professors they have. The conversation usually starts something like this, “coach you won’t believe the professor I have for ……” The evidence is overwhelming that academia is biased toward big government central planning. These elites either don’t understand how free markets work, or don’t trust individuals to make their own decisions in a free market.

Here are some excerpts from the article.

“Conservative critics who object on grounds that the views of the left are wrong miss the point. Regardless of whose views become a monopoly, education suffers…. As a young Marxists in college during the 1950’s heyday of the anti-Communist crusade led by Senator Joseph McCarthy, I had more freedom to express my views in class, without fear of retaliation, than conservative students have on many campuses today.”

“Even liberal professors can be adversely affected by the narrow groupthink that prevails. Without an opposition to keep them on their toes, they can develop sloppy habits to dismissing or even demonizing differing viewpoints, instead of practicing and teaching their students how to come to grips with opposing beliefs.”

“There are many examples of the intellectual and moral dry rot on the many campuses across the country where groupthink of the left substitutes for education.”

 

George Will

In this article by George Will titled, Due Process Is Still Being Kicked Off Campus (click here), he states this: “Academia’s descent into perpetual hysteria and incipient tyranny is partly fueled by the fiction that 1 in 5 college students is sexually assaulted and that campuses require minute federal supervision to cure this. Encouraged by the government’s misuse of discredited social science…colleges and universities are implementing unconstitutional procedures mandated by the government.”

These colleges are violating the fourth and fifth amendment rights of students who have had accusations made against them. First of all administrators don’t have enough knowledge to do the job that the legal system is supposed to do. Colleges are going to get their pants sued off for these violations. But it won’t make the people whole whose lives have been ruined.

The 2006 Duke lacrosse rape case fit the narrative about campuses permeated by a “rape culture.” Except there was no rape. In 2014, the University of Virginia was convulsed by a magazine’s lurid report of a rape that buttressed the narrative that fraternities foment the sexual predation supposedly pandemic in “male supremacist” America. Except there was no rape. Now, Colorado State University at Pueblo has punished the supposed rapist of a woman who says she was not raped.”

Title IX of the Education Amendments enacted in 1972 merely says no person at an institution receiving federal funds shall be subjected to discrimination on the basis of sex. From this the government has concocted a right to micromanage schools’ disciplinary procedures, mandating obvious violations of due process.”

“In 2011, the Education Department’s civil rights office sent “dear colleague” letters to schools directing them to convict accused persons on a mere “preponderance” of evidence rather than “clear and convincing” evidence. Schools were instructed to not allow accused students to cross-examine their accusers, but to allow accusers to appeal not-guilty verdicts, a form of double jeopardy.”

Although a “dear colleague” letter is supposedly a mere “guidance document,” it employs the word “must” in effectively mandating policies…..these letters shred constitutional guarantees…..academic administrators nowadays are frequently supine when challenged – it would risk a costly investigation and the potential loss of the 11 percent of their budget that comes from Washington.”

WORDS OF WISDOM

My friend, who had two kids graduate from college tells everyone; “College is the most dangerous place you can send your kids. Not because of any risk of violence. The risk is when they come back, you will not know who they are, unless you’ve constantly communicated with them.

Related ArticleGeorg Will Outlines What Should Be In Every Commencement Speech, at austrianaddict.com.

Related ArticleBest Commencement Speech Ever? Adm.McCraven Gets My Vote, at austrianaddict.com.

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

Thomas Sowell: Random Thoughts On The Passing Scene

March 9, 2016

Thomas Sowell

Here are some of Thomas Sowell’s most recent random thoughts (read the rest here).

-“Will a Supreme Court without a single Protestant justice rule that an “under-representation” of any group is evidence of discrimination?

-“Here is a trick question: What percentage of American households have incomes in the top 10 percent? Answer: 51 percent of American households are in the top 10 percent in income at come point in the course of a lifetime – usually in their older years. Those who want us to envy and resent the top 10 percent are urging half of us to envy and resent ourselves.”

-“According to the Washington Post, record numbers of college students say that they plan to engage in protests. Our educational system may not teach students much math of science, but students learn from gutless academic administrators that mob rule is the way to get what you want – and to silence those who disagree with you.

-“At last we have reached the point where we can say, “Next year this time, Obama will not be president.” But the disasters he leaves behind will plague us for years to come. And some of those disasters may strike even before he is gone.”

-“Historians of the future, when they look back on our times, may be completely baffled when trying to understand how Western civilization welcomed vast numbers of people hostile to the fundamental values of Western civilization, people who had been taught that they have a right to kill those who do not share their beliefs.”

“The presidential election prospects for the democrats are so bad this year that only the Republicans can save them – as Republicans have saved them before.”

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

Related ArticleThomas Sowell Compares FDR And President Obama, at austrianaddict.com.

Related ArticleThomas Sowell: Wealth, Poverty, and Politics, at austrianaddict.com.

 

Toxic Words: by Thomas Sowell

February 10, 2016

Thomas Sowell

The Great Dr. Thomas Sowell thinks politicians use the word “entitled”, to hide reality from their unsuspecting voters. In his recent article titled, “Toxic Words” (read here), Dr. Sowell sets the record straight about one of the favorite words used by politicians, “entitlements”.

Here are some excerpts from the article.

During this election year, we are destined to hear many words that are toxic in the way they misrepresent reality and substitute fantasies that can win votes.”

One of these words is “entitlement.” to hear some politicians tell it, we are all entitled to all sorts of things, ranting affordable housing to “a living wage.”

The reality is that the human race is not entitled to anything, not even the food we need to stay alive. If we don’t produce food, we are just going to starve. If we don’t build housing, then we are not going to have housing, “affordable”or otherwise.”

Particular individuals or groups can be given many things, to which politicians say they are “entitled,” only if other people are forced by the government to provide those things to people who don’t need to lift a finger to earn them. All the fancy talk about “entitlement” means simply forcing some people to work to produce things for other people, who have no obligation to work.

 

WE’RE NOT ENTITLED TO HEALTHCARE

I listened to Bernie Sanders speech tonight after his victory in the New Hampshire primary. He said he wants a single payer health care system, among other “entitlements”, that will be provided by Government.

Government can provide healthcare if it mandates that people in the healthcare field provide it (without pay), or healthcare can be paid for out of the money government borrows, prints, or confiscates in taxes.

We know people won’t work for free. We know healthcare costs will rise because government has no profit motive. We know that taxing, borrowing, and printing lead to unsustainable debt. The only thing single payer succeeds at is giving Government more power over each individual. If government can mandate that we must have health insurance, it can mandate how much and what kind of healthcare each of us receives. It can also tell us what we are allowed to eat and what kind of activities we are allowed to engage in. Essentially government will run our lives because we believed politicians when they told us we had a right to healthcare. That is not freedom, that is tyranny.

Related ArticleWhat Comes First Production Or Consumption, at austrianaddict.com.

Related ArticleSay’s Law And The Permanent Recession, at austrianaddict.com.