Current Affairs

"Why Won’t The Nightmare Dream Of Communism Die?"

"A century of Communism achieved four main results: poverty, oppression, war, and mass death. So why does anybody still think collectivism is 'idealistic'?"

Glenn Reynolds has, I think, the right answer: "For the same reason Ponzi schemes won't stop. It's an effective con that zeroes in on human weaknesses. Ponzi schemes capitalize on greed. Communism capitalizes on envy, which is why it’s largely sustained by intellectuals, in whose personalities envy tends to be a particularly powerful component."


Two different but complementary views on "trickle down economics"

"The Trumped Up 'Trickle Down' Economics Myth".

The idea of “trickle-down theory” is nonexistent, except as perpetuated by those opposed to across-the-board tax rate cuts that include the wealthy. 

"Sorry Envious Left, 'Trickle-Down' Economics Is Real, And It's Everywhere".

And while anecdote should never be confused with fact, the story of Coca-Cola helps disprove the emotional arguments against trickle down.  With Coke we see how an immigrant rose to near billionaire status in concert with voluminous job creation, staggering amounts of educational and charitable opportunity, and even more giving by the inheritors of great wealth.


"Labor’s Share of GDP: Wrong Answers to a Wrong Question"

Alan Reynolds:

When people say “labor’s share is falling,” they surely mean income people receive from work has not kept up with income people (often the same people) receive from property: dividends, interest, and rent. But, that crude Piketty-Marx labor/capital dichotomy ignores another increasingly important source of personal income: namely, government transfer payments from taxpayers to those entitled to cash and in-kind benefits.  


"Why Is It Such a Struggle to Reform Our Colleges?"

Good question. George Leef:

Bok’s view, in short, is like that of former Michigan governor Jennifer Granholm who declared that higher education “is like jet fuel for the economy.” Pour in the fuel and the economy roars. The trouble is that this view is mistaken.

At no point does Bok mention that the nation already has large numbers of college graduates who are working in jobs that any reasonably smart high school student could learn. Nor does he see that due to the “positional” nature of educational credentials, the more we push “attainment,” the higher the degree level people need to set themselves apart—the credential inflation problem I have often written about. Finally, Bok barely acknowledges that many successful Americans acquired the knowledge they need without completing college, and in many cases never going at all.