Milton Friedman demolishes the socialist rhetoric of Phil Donohue. Over 2 million views.
[youtube=http://www.youtube.com/watch?v=RWsx1X8PV_A&feature=player_detailpage]
Here’s the text for the obliteration of the capitalism-is-evil-and-causes-poverty concept: (more…)
The story of how the Pilgrims went from starving to plenty that I didn’t hear in school. In William Bradford’s own words: [youtube=http://www.youtube.com/watch?feature=player_embedded&v=66QdQErc8JQ#t=135] The video title is The Pilgrims and Property Rights: How our ancestors got fat & happy. Communal property was not acceptable to the married menfolk or the Read more…
Contrasts between capitalism and socialism:
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”
Winston Churchill
Ponder that contrast: (more…)
Margaret Thatcher passed away today.
In 1990 she gave this great explanation of the difference between capitalists and socialists while being questioned in the Commons.
[youtube=http://www.youtube.com/watch?feature=player_embedded&v=rv5t6rC6yvg]
An obvious socialist asked how she could defend policies that resulted in the gap between richest 10% and poorest 10% widening substantially. The poor were relatively less better off than the rich. How could she justify that?
Her devastating response: (more…)
Here’s the arrangement the Pilgrims used when they first landed:
“Although they planted household gardens almost from the start, they collectivized initial field and livestock operations. The settlers had some agricultural successes, but they were unable to grow corn in their common field. Within six months of reaching Plymouth, almost one-half of the population had perished from disease.
That’s a quote from Professor Robert Ellickson in Prof. Don Boudreaux’s article The Pilgrims’ economic progress.
A collectivized farming system didn’t work too well. Starvation was the result.
So, they changed their plans:
(more…)