Home > Obama, Sowell > Cause of the Decline

Cause of the Decline

Thomas Sowell is always a must read.

In this, as in other things, Barack Obama is not so much the cause of our decline but the culmination of it. He had many predecessors and many contemporaries who represent the same mindset and the same malaise.

Are we in a decline? I’m somewhat optimistic. I see the rise of the Tea Party as sign that we aren’t too far off the path. Yet Sowell, in his new book, Dismantling America isn’t as optimistic as I am. Maybe I’m right and he is wrong. Or maybe I’m wrong and he is right. We won’t know for sure for a while. One thing that I definitely know he is right about, that this has a been a gradual thing. Sowell rightly notes that America’s love of free markets has been taking hits for a very long time. It was only a matter of time that someone like Obama would come along.

Categories: Obama, Sowell
  1. September 3, 2010 at 14:11

    What got under my skin was how pervasive the free market bashing was while those who did the bashing never seemed to understand how the stuff they depend on and the luxuries they enjoyed every minute of every day were made available to them, by and large, by free markets.

    It was as if they believed all this stuff would be here without free markets.

    Then you could point out the stuff they like the most was from about as pure a free market as possible, yet they’ll still support government intervention in the “important” things because “they don’t want to take any chances.”

    • September 5, 2010 at 08:33

      It just comes down to economic ignorance. An ignorance, that I’m convinced, is deliberate. All the schools I’ve been to, which are a lot, the only one that had economics as a requirement was when I started BBA program in Management. Don’t you think there is a reason why all these so called “Educated” liberals go through college and never have to take an econ or critical thinking course?

  2. Woodhull
    September 16, 2010 at 08:42

    And to your point, ZH, education today is a direct response to the market. The market wants sqishy, feel-good education in which everyone’s opinion matters deeply no matter how crazy or faulty the logic. That way everyone gets an A, a diploma and are entitled to call themselves “highly educated.”

    • September 16, 2010 at 20:23

      It’s not a response of the market. That’s like saying Wall Street is a free market. lol Yeah only if by free market means that you need massive government subsidies or the whole thing would collapse. lol

  3. Woodhull
    September 20, 2010 at 18:03

    ZH: I was being a smarty pants. What you said is exactly what I meant. The black hole theory of economics.

  4. Woodhull
    September 20, 2010 at 18:04

    I meant, the black hole theory of education and economics.

  5. Woodhull
    September 21, 2010 at 20:32

    On this subject, thought you’d be interested in the Financial and Economic Literacy Improvement Act of 2009, sponsored by Sen Patty Murray (D-WA) Seeing that Patty is true blue and an uber barry supporter, I haven’t the stomach to look at the details. Perhaps you have: http://murray.senate.gov/public/index.cfm?p=FinancialEducation

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