Prof. Thomas Sowell on Uncommon Knowledge (2018) - Income Inequality - Granite Grok

Prof. Thomas Sowell on Uncommon Knowledge (2018) – Income Inequality


“Socialism is a great idea. That doesn’t mean that it is a great reality (16:09)” – And The evidence doesn’t match up to the ideology.

“Despite the grand myth that black economic progress began or accelerated with the passage of the Civil Rights laws and ‘War on Poverty’ programs of the 1960s…the fact is that the poverty rate among blacks fell from 87% in 1940 to 47% by 1960″. Over the next 20 years, the poverty rate among blacks fell another 18 percentage points…This was the continuation of a previous economic trend, but at a slower rate of progress, it was not some economic grand deliverance.”

But LBJ was right – in passing them, he achieved his political goal of having Blacks vote for Democrats for decades. It was never about civil rights.

In this discussion from November 2018, the great Thomas Sowell busts myths about economic inequality.

This is almost an hour-long. FAR longer than the usual “Internet Attention Span” of 5-10 minutes.

If you don’t have the “complete sit down” time at one gulp, make this a series of “mini-gulps.” He is amongst the intellectual elite of the US.

In fact, I’d tell those of you who style yourselves Marxists (and yes, I do know that some of you are – like Bruce) to listen to Professor Sowell. He WAS a Marxist throughout his 20s – and then realized not that he was wrong but WHY he was wrong about his economic governance model.

(H/T: Cafe Hayek)