“Despite the stellar success of ordinary people lifting themselves out of poverty through production and access to a stable market, the income inequality narrative has come to dominate our current public policy discourse, especially in the United States.”
“As with all matters legislative, right now our partisan polarization stands in the way. But hope springs eternal that our better angels, and our ability to compromise—on this and other matters, will eventually return.”
Milton Friedman’s argument that corporations refrain from engaging themselves in social and political issues is compelling. But his argument likely doesn’t apply in today’s world, a world where “social consciousness” actually drives business.
“As newscasters reported in painstaking detail about the intricacies of a politician’s body language or outfit, 3.2 million Americans lost health insurance in 2017. Only 39 percent of Americans can afford a $1k emergency. And 41 million Americans are hungry.”
“Students are commonly told that Jesus was amenable to socialism because he favored the sharing of wealth. But in fact, he taught personal responsibility, voluntary charity, and doing good from the heart, not from someone else’s wallet.”
Professor Caplan thinks students are wise to the true value of a degree, which could help to explain why almost no student ever audits a class and why students spend only about 14 hours per week studying, down from 24 hours per week in 1961.
The cost of a Senate seat, after all, averaged $10,476,451 during the 2012 elections. With that steep of cost, can we expect anything other than politicians sometimes having to speak out of both sides of their mouths?
In our society, whatever is important is what we don’t let children do. They can’t buy property, take out loans, consent to medical procedures (with the glaring exception of abortion), or rent a car. Read more →