Posts tagged with: socialism

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“Having a heart for the poor isn’t hard. Having a mind for the poor…that’s the challenge.” –Poverty, Inc.

This quote from the documentary Poverty, Inc. highlights the reason why so many people are willing to give their money to foreign aid, without necessarily understanding its harmful effects.  This quote can also shed some light on the recent embrace of socialism by many millennials.

When young people look at the rate of poverty in the U.S. and see that we are not doing as well as  some other developed countries, it is easy for them to place this blame on what they believe is “capitalism.”  If capitalism has caused the U.S. to experience this poverty then it logically follows that people today, especially millennials, would embrace socialism instead of capitalism.

Given that I am a millennial myself, this makes sense to me.  It’s clear that we care about these causes and that we are willing to give our time and money.  That’s the easy part.  We have a heart for the poor. The challenge is having a mind for the poor. (more…)

Samuel Gregg, Director of Research at the Acton Institute and author of For God And Profit: How Banking and Finance Can Serve the Common Good, joins host Drew Mariani on Relevant Radio’s The Drew Mariani Show to discuss the recent failed referendum in Switzerland that would have provided a guaranteed basic income to all citizens, and how that vote reflects the limitations of social democracy.

You can listen to the full interview via the audio player below.

venezuela-food-shortagesThe Venezuelan economy is buckling under the weight of its severe socialist policies, and even as its president admits to a nationwide economic emergency, the government continues to affirm the drivers behind the collapse, blaming low oil prices and global capitalism instead.

This was supposed to be the dawn of “21st-century socialism,” as the late President Hugo Chavez proclaimed over 10 years ago, complete with the right tweaks and upgrades to its materialistic, mechanistic approach to the human person. “We have assumed the commitment to direct the Bolivarian Revolution towards socialism,” he said, “and to contribute to the socialist path, with a new socialism…which is based in solidarity, in fraternity, in love, in justice, in liberty, and in equality.”

Alas, with a shrinking economy, booming inflation, violent outbreaks, and empty food shelves, “21st-century socialism” is feeling mighty nostalgic in all the wrong ways.

In the years before Chavez, the country was in better shape than much of the continent. Now, thanks to the temptations of centralized power, the arrogance of centralized planners, and a series of faux upgrades to age-old bad ideas, the nation is crumbling. The oil prices simply served as the messenger. (more…)

In an era where socialism is (inexplicably) once again in vogue, we should ask, “What would life be like in a world without capitalism?”

The Fund for American Studies has produced a superb It’s a Wonderful Life-style video that not only shows what life would be like if we banned free enterprise (i.e., a lot like Soviet Russia) but also makes the point that when you lose economic freedom you lose other freedoms too. As the angel says, “When you take away the carrot, all you’re left with is the stick.

My favorite part of the video:

Anti-capitalist activist: “I just wanted to get rid of the greed. I didn’t want to get rid of my microwave, my air-conditioner. . . ”

Angel: “Your Xbox.”

Activist: “My Xbox is gone?”

Angel: “Yeah, well, in this world that greedy Bill Gates work in a bowling ball factory in Akron. Lose-win, right?”


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Well, it finally happened. The pope felt the Bern.

Against expectations, Pope Francis and  Senator Bernie Sanders, the Democrat candidate for U.S. president, met privately today in the Vatican hotel where the pontiff resides and where Sanders was staying as a guest.

Bernie Sanders was in Rome for the Pontifical Academy of Social Sciences meeting to discuss his economic, environmental and moral concerns (as summed up in Sanders’own words during the press scrum that followed).

The Pontifical Academy’s meeting was dedicated to the 25th anniversary of John Paul II’s Centisimus Annus, arguably the most pro-market  encyclical in the history of Catholic social teaching published in 1991 on the 100th anniversary of Leo XIII’s 1891 encyclical Rerum Novarum which also praised private property rights, the value of personal liberty, and likewise denounced Marxism on grounds of mistaken anthropology.

Sanders put his own socialist spin on Centesimus Annus while in Rome. (more…)

Terminator-2-Judgement-Day-posterI oppose implementing Skynet and increasing minimum wage laws for the same reason: to forestall the robots.

It’s probably inevitable that a T-1000 will return from the future to terminate John Connor. But there is still something we can do to prevent (at least for a time) a TIOS from eliminating the cashier at your local McDonalds.

In Europe, McDonalds has ordered 7,000 TIOSs (Touch Interface Ordering Systems) to take food orders and payment. In America, Panera Bread will replace all of their cashiers with wage-free robots in all of their 1,800 nationwide locations by 2016. There is even a burger-making robot that can churn out 360 gourmet hamburgers per hour.

I, for one, welcome our new fast-food robot overlords. I’m just not ready for them yet.
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Sales-taxImagine you’re at the checkout line at the supermarket and the clerk asks how much income your family earns each year. Offended, you ask why that is any of her business.

“We need to know to determine how much sales tax you need to pay,” the checker politely explains. “If you’re classified as the ‘working poor’ you need to pay more sales tax.”

“I think you have that backwards,” you helpfully add. “You mean the working poor need to pay less sales tax, right?”

“Oh, no sir,” she say, still blissfully cheerful. “It’s a new anti-poverty program initiated by the federal government that helps the poor by making them pay an addition sales tax on their groceries.”

Although it isn’t stated so clearly or applied so directly, the federal government has in fact implemented an “anti-poverty” initiative that does just that. As economist Thomas Macurdy says, “Most Americans wouldn’t cheer this program, nor would most political leaders champion it. Yet that is what happens when Congress raises the minimum wage.”

Earlier this year Macurdy published a study in the Journal of Political Economy that examined the effect of the minimum wage on the poor. As he explains in the Wall Street Journal, his findings show that the minimum wage serves as a tax on the poor:
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