Socialism for the Uninformed 

gettyimages-sanders

Why the destructive philosophy continues to attract followers.

sowell_squareThomas Sowell writes: 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.

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

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.

warren-socialist-eyes

“In 2015, the 400 richest people in the world had net losses of $19 billion. If they had rigged the system, surely they could have rigged it better than that.”

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.

vladimir_lenin_cc_img_0

“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.'”

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?

From the dustbin of history, the zombie socialists

From the dustbin of history, the zombie socialists

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. Read the rest of this entry »


Europe’s Leaders Can’t Handle The Security Crisis They Created

CoZ0Gk2W8AAU5Nv

 writes: How is your Merkelsommer going? For now, Britain seems to be missing the worst. True, a couple of men of Middle Eastern appearance tried to abduct a soldier near his base in Norfolk for what was unlikely to have been an interfaith dialogue session. But Britain’s geographical good fortune, relative success in limiting weapons and our justified scepticism of the undiscriminating ‘open borders’ brigade mean that we have so far been spared the delights of what Angela Merkel’s growing army of critics refer to as her summer of terror.

It is now a fortnight since Mohammed Lahouaiej-Bouhlel shouted ‘Allahu Akbar’ and ploughed a truck along the Nice seafront, killing 84 people. The following Monday Mohammed Riyad, who said he was from Afghanistan but almost certainly came from Pakistan, screamed ‘Allahu Akbar’ while hacking with an axe at his fellow passengers on a Bavarian train. The next day another Mohammed, this time Mohamed Boufarkouch, shouted ‘Allahu Akbar’ and stabbed a Frenchwoman and her three daughters (aged eight, 12 and 14) near Montpelier. Mixing things up a little, that Friday’s shooter in Munich was a child of Iranians called Ali David Sonboly. Skip forward a couple of days and a ‘-Syrian asylum seeker’ with a machete was hacking a pregnant woman to death in Stuttgart. The next day another ‘Syrian asylum seeker’, Mohammad Daleel, carried out a suicide bombing outside a bar in Ansbach, Bavaria. And a little over 24 hours later two men shouting the name of Isis entered a church in Rouen during Mass, took the nuns and congregation hostage and slaughtered the priest with a knife.

Although the public know what is going on, the media seems loath to find any connection between these events. Indeed, the same papers that blame an exaggerated spike in ‘hate crime’ on everyone who voted for Brexit seem unwilling to put the blame for these real and violent attacks on the individuals carrying them out. ‘Syrian man denied asylum killed in German blast’ was the Reuters headline on the Ansbach story, neatly turning the suicide bomber into the victim and the German asylum system into the perpetrator. As Reuters went on: ‘A 27-year-old Syrian man who had been denied asylum in Germany a year ago died on Sunday when a bomb he was carrying exploded outside a music festival.’ How terrible for him to lose his bomb in such a way.

The more complex story of the Munich shooter allowed everyone to double-down on their favourite explanations for violence. Inadequate welfare provisions, unsuitable town-planning and bullying were all wheeled out to explain why Ali David Sonboly started shooting in a McDonalds. Others were a little too keen to claim him as an Isis warrior, when it seems he wasn’t. The BBC got around the problem by excising the ‘Ali’ and all reports of his religion. Instead, speculation about the shooting happening on the fifth anniversary of Anders Breivik’s terrorist assault in Norway meant that every-one could ignore the Muslim eyewitness who heard Sonboly shout ‘Allahu Akbar’ and headline on Breivik instead. Meaning that in Europe in 2016 a child of Iranian parents can be portrayed as a white supremacist, while no amount of Mohameds shouting ‘Allahu Akbar’ can be said to have any connection to Islam.

Sections of the media and political class seem determined to stop the public coming to any conclusions. But most of us probably did that a long time ago, and these conclusions are being reinforced on a daily basis.

For the time being, the acceptable thing is to blame Isis. There is sense in that. The German train attacker had an Isis flag at his home, the Ansbach bomber left a video pledging allegiance to the group, and at least one of the Rouen church attackers had tried to travel to Syria to join them. The extent to which the group is involved varies, and they undoubtedly talk up their capabilities, but their ability to inspire as well as direct will be a problem as long as they exist. Read the rest of this entry »


Happy 86th Birthday to Economist Thomas Sowell, One of the Greatest Living Economists

sowell_1

 writes: Two of my all-time most favorite economists — Thomas Sowell and Frederic Bastiat – share the same birthday — they were both born on June 30. To recognize Bastiat’s birthday today I posted some of his quotes on CD yesterday, and I’ll now do the same for Thomas Sowell, who turned 86 today. Here is Thomas Sowell’s webpageand here is his Wikipedia entry. Milton Friedman once said, “The word ‘genius’ is thrown around so much that it’s becoming meaningless, but nevertheless I think Tom Sowell is close to being one.”

In my opinion, there is no economist alive today who has done more to eloquently, articulately, and persuasively advance the principles of economic freedom, limited government, individual liberty, and a free society than Thomas Sowell. In terms of both his quantity of work (at least 40 books and several thousand newspaper columns) and the consistently excellent and crystal-clear quality of his writing, I don’t think any living free-market economist even comes close to matching Sowell’s prolific record of writing about economics. Even at 86 years old, Thomas Sowell is still active and writes two syndicated newspaper columns almost every week (one column in some weeks) and recently released his 40th book last fall Wealth, Poverty and Politics: An International Perspective — which amazingly was his 13th book in the last decade! To honor Thomas Sowell’s 86 birthday today, I present here 15 of my favorite quotations from Dr. Thomas Sowell and a bonus video:

1. Knowledge. The cavemen had the same natural resources at their disposal as we have today, and the difference between their standard of living and ours is a difference between the knowledge they could bring to bear on those resources and the knowledge used today.

2. Obamacare. If we cannot afford to pay for doctors, hospitals and pharmaceutical drugs now, how can we afford to pay for doctors, hospitals and pharmaceutical drugs, in addition to a new federal bureaucracy to administer a government-run medical system?

[Read the full story here, at Carpe Diem Blog » AEIdeas]

3. Economics vs. Politics I. Economics and politics confront the same fundamental problem: What everyone wants adds up to more than there is. Market economies deal with this problem by confronting individuals with the costs of producing what they want, and letting those individuals make their own trade-offs when presented with prices that convey those costs. That leads to self-rationing, in the light of each individual’s own circumstances and preferences.

4. Economics vs. Politics II. 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.” Read the rest of this entry »