Nuggets of Wisdom

Tuesday, October 21, 2014

Socialism: Blaming Capitalism For Government’s Follies

“Six Minute Socialism” sounds like a fitting name. Most self-described “socialists” seem to have a six-minute understanding of math, history, and economics, as this insipid video shows:

Sweet Celestia! I can’t even make it past the intro without being assaulted by bogons. Pretty much everything he lists is the fault of government, not capitalism.

Can't find a job? Blame that on the current recession that resulted from the government-created housing bubble burst.

Can't afford health care or college? Blame that on government meddling in healthcare and student loans.

Have low wages got you down? Blame that on inflation fueled by reckless money printing.

Are you sick and tired of recessions and depressions? Yeah, and it’s because of the insanity of the Federal Reserve.

I’m not bothering with the rest of the video. If you can’t convince me that your opinion is worth taking seriously within the very first few sentences, then I have no reason to listen to therest of what you have to say.

Murray Rothbard once said it’s not a crime to be ignorant of economics, but it is totally irresponsible to have a loud and vociferous opinion on it while remaining ignorant. Funny how the most “loud and vociferous” voices on economics tend to be the most ignorant.