In the video below, left-leaning progressives discuss their outrage that the investment bank Goldman Sachs contributed heavily to Barack Obama’s campaign and received very good bailout terms from the government.
Gee, what a surprise! Powerful and rich elements of society are able to manipulate government for their own personal gain. And to think that progressives want a larger, more powerful, government that regulates everything. If you have a big big government, you have big corruption.... Read More→
Wait, I’m confused, didn’t Barack Obama say he’ll raise taxes only on those making $250,000 a year or more? Did that promise seem good to you? Did you believe it? Did you really think a vote for Obama is a vote for sticking it to the rich? Well now we have Cap and Trade, a program which will tax corporations for carbon dioxide emissions, you know the green house gas. What has it got to do with the common folk you ask? Let’s hear it from Barack Obama himself:
Under my... Read More→
The Story of the Goose That Laid the Golden Eggs (from Wikipedia):
A man and his wife had the good fortune to possess a goose which laid a golden egg every day. Lucky though they were, they soon began to think they were not getting rich fast enough, and, imagining the bird must be made of gold inside, they decided to kill it. Then, they thought, they could obtain the whole store of precious metal at once; however, upon cutting the goose open, they found its innards to be like that of any other goose.
This... Read More→
This Myth is typically associated with Democrats vs. Republicans. Democrat politicians are believed to be men and women of the people. They’re just like us the little guys. They understand the needs and desires of the average person. They have empathy and will work tirelessly on the behalf of the poor and downtrodden. While the Republicans, they’re of the rich and heartless kind. They only want to further the interests of billionaires while trampling on the rights of the common... Read More→
In a socialist state the government promises to work on behalf of the little guy: The old, the young, the sick, the poor, the worker, etc. The government will take care of anyone who can possibly have any kind of problem or grievance. But, there’s just one thing, the government can’t provide for everyone. It can’t solve everyone’s problems. Not even close! Never happens. No sir. So what happens when you have a problem, who can you turn to? The government? As an individual,... Read More→
The previous post made me think some more about what it means to be greedy and how the terms is used and misused.
My Mac’s dictionary defines the term “greedy” as
greedy
having or showing an intense and selfish desire for something, esp. wealth or power : greedy thieves who plundered a defense contractor.
I propose that the key word here is selfish. If you want to possess something and you’re selfish about it, then you’re greedy. All right, let’s look at what... Read More→
In this video, one of our favorite guys here at SocialismDoesntWork.com explains on the Phil Donahue show why so called “greed” (a term commonly misused to describe self interest) is not the evil that socialists make it out to be. As Milton so eloquently puts it, “the world runs on individuals pursuing their own self interests.” Milton Friedman then points out one of the fundamental fallacies of socialism: “Just tell me where in the world you find those angels who... Read More→
What is waste exactly? Waste in this context happens whenever someone who could be doing something productive, ends up doing something non-productive instead. Waste results in wealth that’s taken out of the economy, and consequently, everyone suffers as goods and services become less abundant.
How is wealth taken out of the economy? Let me illustrate with a silly but effective example:
Suppose we have country with a very simple one-product economy consisting of 100 loaves of bread produced... Read More→
