Thomas Sowell is Brilliant: the Hayek of Our Time.

I only wish I could write this well, this clearly and this powerfully.  Comrade Karl, here is why you are wrong, wrong, WRONG!

Economic Mobility

by Thomas Sowell

Recently by Thomas Sowell: Do Gun Control Laws Control Guns?

Those “social scientists,” journalists and others who are committed to the theory that social barriers keep people down often cite statistics showing that the top income brackets receive a disproportionate and growing share of the country’s income.

But the very opposite conclusion arises in studies that follow actual flesh-and-blood individuals over time, most of whom move up across the various income brackets with the passing years. Most working Americans who were initially in the bottom 20 percent of income-earners, rise out of that bottom 20 percent. More of them end up in the top 20 percent than remain in the bottom 20 percent.

People who were initially in the bottom 20 percent in income have had the highest rate of increase in their incomes, while those who were initially in the top 20 percent have had the lowest. This is the direct opposite of the pattern found when following income brackets over time, rather than following individual people.

Most of the media publicize what is happening to the statistical brackets – especially that “top one percent” – rather than what is happening to individual people.

We should be concerned with the economic fate of flesh-and-blood human beings, not waxing indignant over the fate of abstract statistical brackets. Unless, of course, we are hustling for an expansion of the welfare state.

Please read the whole piece.

5 thoughts on “Thomas Sowell is Brilliant: the Hayek of Our Time.

  1. Here’s a list of three of the men who’s opinions I value most
    Thomas Sowell
    Walter Williams
    Alan Keyes

    But as I disagree with the sitting president, I am a RACIST!

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