Archive for the ‘Thomas Sowell’ Category

THOMAS SOWELL – THE ‘FAIRNESS’ FRAUD

Wednesday, February 22nd, 2012

February 22, 2012

The ‘Fairness’ Fraud

By Thomas Sowell

During a recent Fox News Channel debate about the Obama administration’s tax policies, Democrat Bob Beckel raised the issue of “fairness.”

He pointed out that a child born to a poor woman in the Bronx enters the world with far worse prospects than a child born to an affluent couple in Connecticut.

No one can deny that. The relevant question, however, is: How does allowing politicians to take more money in taxes from successful people, to squander in ways that will improve their own reelection prospects, make anything more “fair” for others?

Even if additional tax revenue all went to poor single mothers — which it will not — the multiple problems of children raised by poor single mothers would not be cured by throwing money at them. Indeed, the skyrocketing of unwed motherhood began when government welfare programs began throwing money at teenage girls who got pregnant.

Children born and raised without fathers are a major problem to society and to themselves. There is nothing “fair” about increasing the number of such children.

A more fundamental problem with the “fairness” issue raised by Beckel and many others is the slippery vagueness of the word “fair.” (more…)

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THOMAS SOWELL DEFINES ‘SOCIAL JUSTICE’

Thursday, February 16th, 2012
The Wall Street Journal

  • FEBRUARY 15, 2012

Notable & Quotable

Thomas Sowell defines ‘social justice.’

Economist Thomas Sowell writing in his syndicated column, Dec. 27:

What do you call it when someone steals someone else’s money secretly? Theft. What do you call it when someone takes someone else’s money openly by force? Robbery. What do you call it when a politician takes someone else’s money in taxes and gives it to someone who is more likely to vote for him? Social Justice.

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ECONOMICS FOR THE LONG RUN – THE REAGAN YEARS

Saturday, January 28th, 2012
The Wall Street Journal

  • JANUARY 25, 2012

Individuals should be free to decide what to produce and consume, and their decisions should be made within a predictable policy framework based on the rule of law.

By JOHN B. TAYLOR

As this election year begins, a lot of people are wondering what we can do to restore America’s prosperity and create more jobs. Republican presidential candidates are offering their ideas, and at his State of the Union message on Tuesday President Obama presented his. I believe the fundamental answer is simple: Government policies must adhere more closely to the principles of economic freedom upon which the country was founded.

At their most basic level, these principles are that families, individuals and entrepreneurs must be free to decide what to produce, what to consume, what to buy and sell, and how to help others. Their decisions are to be made within a predictable government policy framework based on the rule of law, with strong incentives derived from the market system, and with a clearly limited role for government.

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Getty ImagesRonald Reagan: He and advisers such as George Shultz shunned the idea of stimulus and agreed on ?the need for a long-term point of view.? (more…)

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VIDEO – EGALITARIANISM – FRANCES FOX PIVEN, THOMAS SOWELL AND MILTON FREIDMAN

Tuesday, January 24th, 2012

In this clip from the 1980 Free To Choose, socialist Frances Fox Piven tangles with Milton Friedman and Thomas Sowell. Sowell, in particular, is incisive with his discussion of “process” versus aspiration — concluding that whatever the purported social goals, liberty suffers

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THOMAS SOWELL – THE UNKNOWN UNKNOWNS THAT ARE KILLING OUR ECONOMY

Tuesday, July 12th, 2011


July 12, 2011

Unknown Unknowns

By Thomas Sowell
When Donald Rumsfeld was Secretary of Defense, he coined some phrases about knowledge that apply far beyond military matters.

Secretary Rumsfeld pointed out that there are some things that we know that we know. He called those “known knowns.” We may, for example, know how many aircraft carriers some other country has. We may also know that they have troops and tanks, without knowing how many. In Rumsfeld’s phrase, that would be an “unknown known” — a gap in our knowledge that we at least know exists.

Finally, there are things we don’t even know exist, much less anything about them. These are “unknown unknowns” — and they are the most dangerous. We had no clue, for example, when dawn broke on September 11, 2001, that somebody was going to fly two commercial airliners into the World Trade Center that day.

There are similar kinds of gaps in our knowledge in the economy. Unfortunately, our own government creates uncertainties that can paralyze the economy, especially when these uncertainties take the form of “unknown unknowns.”

The short-run quick fixes that seem so attractive to so many politicians, and to many in the media, create many unknowns that make investors reluctant to invest and employers reluctant to employ. Politicians may only look as far ahead as the next election, but investors have to look ahead for as many years as it will take for their investments to start bringing in some money. (more…)

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VIDEO – THOMAS SOWELL ON ECONOMICS

Saturday, May 28th, 2011

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