Tag Archives: Economics

Thomas Sowell: The ‘Fairness’ Fraud

It seems as if, everywhere you turn these days, there are studies claiming to show that America has lost its upward mobility for people born in the lower socioeconomic levels. But there is a sharp difference between upward "mobility," defined as an opportunity to rise, and mobility defined as actually having risen.

That distinction is seldom even mentioned in most of the studies. It is as if everybody is chomping at the bit to get ahead, and the ones that don't rise have been stopped by "barriers" created by "society."...

 

Continue to the original source »

Read More »

Obamanomics, RIP

AN OLD SAYING sometimes attributed to Mark Twain goes: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” And so it is with the current view that government spending stimulates the economy. It doesn’t. Government stimulus spending, paid for by running up the federal credit card, is why we have the never-ending Great Recession, though the left keeps fantasizing that spending “saved us from a second great depression.”...

Continue to the original source »

Read More »

Keeping the Poor Poor (Until They’re Not)

Government data indicate that the U.S. remains far from winning the longest war in its history: the war on poverty.

 

The latest line of argument from defenders of the welfare system is that we are measuring poverty inaccurately; counting welfare as income, they suggest, would show that we are winning the war on poverty.  Proponents of changing the way we classify the data on America's poor would accomplish little more than a subterfuge to distract from glaring flaws with the status quo of government social welfare programs...

Continue to the original source »

Read More »