The Fallacy of Redistribution

Posted by ObjectiveAnalyst 12 years, 3 months ago to Economics

The Fallacy of Redistribution- Thomas Sowell

http://jewishworldreview.com/cols/sowell...

It seems so self evident to me that producers are not stupid. They will only produce to the degree that they feel is required if they are not to be the recipients of the profit from their bounty.
O.A.

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Posted by LetsShrug 12 years, 3 months ago

Yes, any half-thinking person could come to that conclusion, but our country is full of less than half thinkers (in my experience anyway), so when they hear "Redistribution of wealth" they think that means they can get a piece of some "fat cat's" pie and they jump on board with their hand out. Not realizing that their OWN piece of pie will soon be distributed to somebody who has an even smaller piece....and so on. Until their own pie is being taken from them they don't get the wrongness of redistribution. (Yes, the pie analogy was the best I could muster at the moment.)

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  Posted by eilinel 12 years, 3 months ago
  
  I read the article a couple of days ago, and remember that the "bum" on the train, from 20c Motors, said almost exactly what you did.
  
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    Posted by LetsShrug 12 years, 3 months ago
    
    Really? I loved that bum...hmmm maybe that's why. Didn't mean to be repetitive (or plagaristic), I thought I was talking off of my own cuff. (eeek did I just bum off the bum's cuff?) Sorry.
    
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      Posted by eilinel 12 years, 3 months ago
      
      No, I dind't mean word-for-word, just the sentiment. No plagiarism.
      
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        Posted by LetsShrug 12 years, 3 months ago
        
        Yeah...I got that. Just being goofy, but maybe there's no goofy in the Gultch. ?
        
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        Posted by Eudaimonia 12 years, 3 months ago
        
        Clearly you've not met JGISSD.
        
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        Posted by LetsShrug 12 years, 3 months ago
        
        Well that wasn't very nice. :(
        
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Posted by Christina1980 11 years, 9 months ago

I have a friend (thou not anymore) who thinks Obama is awesome and that redistribution of wealth is a great thing. Cause rich people are greedy and evil. I can not change her mind :(

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  Posted by ObjectiveAnalyst 11 years, 9 months ago
  
  There's at least one in every crowd... They must learn the hard way.
  
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Posted by CatieM 12 years, 3 months ago

Haven't read the article yet just wanted to note.

Enjoy Liberty Loving Communists in your inbox!

Huh.

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  Posted by ObjectiveAnalyst 12 years, 3 months ago
  
  Hello CatieM,
  
  I have not signed up for the daily E-mail briefing “Liberty Loving Communists…” offered at the site where this Sowell column was found. I simply followed the link from tsowell.com. Are you recommending the newsletter?
  
  Regards,
  O.A.
  
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    Posted by CatieM 12 years, 3 months ago
    
    I am just commenting that Liberty and Communist are not compatible with each other. Good article though.
    
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      Posted by ObjectiveAnalyst 12 years, 3 months ago
      
      Hi CatieM,
      
      Thank you for the clarification. I also find Communism and Liberty incompatible.
      
      O.A.
      
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The Fallacy of Redistribution

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