Cato Institutes David Boaz criticizes the collectivist remarks of our presidential candidates:
On Sunday Barack Obama urged graduates of Connecticut’s Wesleyan University to devote themselves to “collective service.” This is not an unusual theme for a commencement address. But it was interesting how long he went on discussing various kinds of nonprofit activism without ever mentioning […]
Do you want to know what a Libertarian really believes in? Listen to the father of modern day Libertarianism, Milton Friedman define it without all the distortions and misrepresentations from those who claim to know what libertarianism is.
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From an old speech but just as relevant today as it was then.
“Europe continues, slowly and reluctantly, to deregulate its economies. In this it is following the US example. The American economy has some problems at the moment, but the EU’s governments are ever mindful of, and oppressed by, the long-term success of the American model. What is interesting is that the United States has been moving […]
“Krugman and Bartels think the problem is the influence rich people have on public opinion and the policy process….They also keep banging straight into the problem that if government is empowered to heavily affect people’s fortunes, then people with the biggest fortunes will have the most at stake when it comes to influencing government. The […]
Harvard economist Andrei Shleifer has a new paper on The Age Of Milton Friedman that begins with:
The last quarter century has witnessed remarkable progress of mankind. The world’s per capita inflation-adjusted income rose from $5400 in 1980 to $8500 in 2005.Schooling and life expectancy grew rapidly, while infant mortality and poverty […]
“The number of poor people who can’t afford food for their children is a lot smaller than it used to be — thanks to capitalism. Capitalism didn’t create malnutrition, it reduced it. The globalization of capitalism from 1950 to the present has increased annual average income in the world to $7,000 from $2,000. Contrary to […]
“I am impressed that the strong majority of the world’s richest individuals (about 30 out of the 39 richest Americans) made their money rather than inherited it. The wealthiest individuals are mainly self-made because inherited wealth gets dissipated over a couple of generations through bad investments, or is given to various charities, or gets broken […]
And one that only Youtube can bring.
Link via CD.
“The idea that an American could, under any circumstance of naturalization, become a governor of an Indian province, or be elected to high office in Austria seems remote. Yet we take the inverse for granted here. On Sunday night I spoke to a Jewish group in Fresno in support of Israel; on Wednesday I debated […]
“However, if poverty is defined in the relative sense, the lowest fifth of income-earners, “poverty” will always be with us. No matter how poverty is defined, if I were an unborn spirit, condemned to a life of poverty, but God allowed me to choose which nation I wanted to be poor in, I’d choose the […]
Explained by my favorite economic blogger, Megan McArdle blogging at The Atlantic:
One thing that strikes me about the arguments I’ve been having with voucher opponents is just how little they seem to understand how markets work. Markets don’t work because they get it right the first time; they succeed because if at first they don’t […]
Forbes recently released its list of the 400 richest people. John Tamney writing in Real Clear Politics gives us the lessons from the findings:
Of the charter members of the first Forbes 400 in 1982, only 32 remain today. Far from a country where only the rich get richer, the wealthy in the US […]
One that is sure to work and not to difficult to follow, given by an old Catallarchy post I am now catching up on:
As inspiring as Howard Gardner’s, Oprah Winfrey’s, and Michael Jordan’s stories are, I don’t think that they’re necessarily good role models. The high-risk strategies for success they adopted paid off for them, […]
“America gives a better life to the ordinary guy than does any other country. Let’s be honest: rich people live well everywhere. America’s greatness is that it has extended the benefits of affluence, traditionally available to the very few, to a large segment in society. We live in a nation where “poor” people have TV […]
This post is a continuation of the discussion between me and tin that started here and continued here.
Let me start the discussion with some definitions. I define communism, or more generally collectivism, as any economic system that exhibits the following criteria,
1. Little to no property rights
2. little to no free trade
3. the means of production […]
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