Excerpt from Discrimination and Disparities by Thomas Sowell:
“The most spectacularly successful political doctrine in the 20th century was Marxism based on the implicit presumption that differences in wealth were due to capitalists growing rich by keeping the workers poor through exploitation.”
Robinson: “What was wrong with that assumption?”
Sowell: “It was simply never put to any test. Now the test I suggest there’s a simple one, but it is a test, and and if it’s true that the rich are rich because they’re keeping the poor poor, then in a country with lots of billionaire is usually correspondent to having great amounts of poor people. But if you could but if you compare the actual data, there are more billionaires in the United States than in Africa and the Middle East put together, and yet the standard of living and of the poor in the United States is higher than that of people in Africa and in the Middle East. So by that simple standard it just doesn’t hold up.”
Robinson: “The proportion of Millennials that’s my kids and your grandkids who hold favorable views of communism is nineteen percent.”
Sowell: “During the election all this enthusiasm for Bernie Sanders was taking place while people in Venezuela, under a socialist government, with lots of oil around the country, rich in natural resources, were starving. They were breaking into grocery stores as they were desperate to get food, they’re going into other countries to try to get something to eat. And the two things never came together. And they saw socialism as an idea. Socialism has always been a wonderful sounding idea. It’s only when you put it into practice that you discover that there are real problems.”
Clip courtesy of PhilosophyInsights. Check out the YouTube channel here.