John Cochrane on inequality

So when all is said and done, the inequality warriors want the government to confiscate wealth and control incomes so that wealthy individuals cannot influence politics in directions they don’t like. Koch brothers, no. Public-employee unions, yes. This goal, at least, makes perfect logical sense. And it is truly scary.

Prosperity should be our goal. And the secrets of prosperity are simple and old-fashioned: property rights, rule of law, economic and political freedom. A limited government providing competent institutions. Confiscatory taxation and extensive government control of incomes are not on the list.

That is from the WSJ.

RTWT.

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19 Responses to John Cochrane on inequality

  1. Zippy The Younger

    Serious question, just where the hell is this all going? We are on a dead end path, smack into the wall of universal socialism with no one brave enough to hit the brakes

  2. We need some serious leadership on this, where it will come from has me baffled

  3. Old Sailor Man

    Remember the bullsh*t words of the most fatuous pop song ever to (dis)grace the airwaves; one that became a code of life to millions of perpetual adolescents:
    “Imagine no possessions, it’s easy if you try”

  4. Roger

    We won the (Cold) War but have lost the hearts and minds of the generation that has come of age since.

    Reagan and Thatcher could at least articulate their vision; precious few liberal (in the best sense of that word) politicians have been able to do so since.

  5. H B Bear

    He’s living in the wrong part of the world to be thinking like that. Trouble is I don’t know anywhere that might even resemble that.

  6. Libertarian Yank

    Koch brothers, no; George Soros, Yes. If the bleeding hearts want someone to have money they should give them their own money and leave mine and other producers’ money alone. I think that those that are freeloaders are in for a rude awakening when they find out that true socialism requires the able-bodied to work whether it be collecting rubbish or sweeping streets and footpaths.

  7. blogstrop

    “Imagine no possessions, it’s easy if you try”

    It’s easy if you’re a never have to work again multi-millionaire beneficiary of the good old days of music as a drug of addiction that you pay for, or else.

  8. .

    Actually I reckon the lefties got “Imagine” totally wrong.

    “Comrades! The insurrection of five kulak districts should be pitilessly suppressed. The interests of the whole revolution require this because ‘the last decisive battle’ with the kulaks is now under way everywhere. An example must be demonstrated.

    Hang (and make sure that the hanging takes place in full view of the people) no fewer than one hundred known landlords, rich men, bloodsuckers.
    Publish their names.
    Seize all their grain from them.
    Designate hostages in accordance with yesterday’s telegram.
    Do it in such a fashion that for hundreds of kilometres around the people might see, tremble, know, shout: “they are strangling, and will strangle to death, the bloodsucking kulaks”.

    Telegraph receipt and implementation.

    Yours, Lenin.

    Find some truly hard people”

    If they didn’t believe in possessions, they wouldn’t have tried to steal them from everyone else by force.

  9. Andrew

    Yep, Koch Bros. And Murdoch6666! No billionaires not living in AUS are allowed to offer an opinion publicly for fear that they might influence somebody! (And no Gina6666 either!)

    The filthies pushing that rubbish then get asked

    “You’re happy for the ACTU to donate to the ALP, and have a direct stake in writing legislation that affects non-union members?”

    Well, yes – that’s different. They represent OUR Working Families.

    “Avaaz, funded by Soros for the benefit of Soros? You’re happy with that? And it’s OK for GetUp to be funded by Soros, and for GetUp to put up candidates to the Sen8? Basically, a Soros Party candidate went within 1000 votes of a Senate seat with balance of power. That’s OK? Soros is the representative of Oz WFs?”

    No, doesn’t seem to bother them anywhere near as much as Murdoch6666 donating $500k to the IPA.

  10. Ant

    “We won the (Cold) War but have lost the hearts and minds of the generation that has come of age since.”

    Well said.

    I try to engage my young nieces and nephews (my own kids are straightened out), but they really don’t care and give me the impression that they think I’m a crank.

    They just can’t absorb that the people they are electing now are going to make decisions that will have very real impacts on where they will be in decades to come in very profound ways – them, their families and their kids’ families, not to mention their country.

    And it will get worse as the government gets bigger and relentlessly chips away at individual property rights and liberties the chasing empty promises of Utopia.

  11. .

    No, doesn’t seem to bother them anywhere near as much as Murdoch6666 donating $500k to the IPA.

    …and the IPA gets millions from the cumulative sum of donations made by small donors/members like me.

  12. .

    Ant – be a nasty prick. Drive home the extent of their stupidity. It is what we do best on the cat.

  13. Peter

    Imagine……. if the forum members here spent less of their time and energy preaching to the choir, here, and more time discussing the issue with the ill-informed wherever they might be found?

    The American Revolution was not fomented on the internet.

  14. Peter

    Nor did Jesus of Nazareth – arguably the single most influential man to ever grace this planet – waste his time making speeches to a half-empty senate.

  15. Roger

    I try to engage my young nieces and nephews (my own kids are straightened out), but they really don’t care and give me the impression that they think I’m a crank.

    Ant, the impact has already begun to hit – if they are representative of their generation, their incomes and prospects of generating moderate personal wealth (what all working people aspire to: a house, surplus money in the bank, a decent retirement income) will likely be lower than their parents. Sooner or later reality may dawn upon them. Keep plugging away, as we all must, in the face of the general lunacy; time will prove us to have been the sane ones!

  16. I try to engage my young nieces and nephews (my own kids are straightened out), but they really don’t care and give me the impression that they think I’m a crank.

    The younger generation is much more left wing because educational instruction – from primary right through to university – is much more left wing than it was.

    People talk of the march through the institutions but some institutions matter more than others. You don’t have to control all the institutions to win the culture war, just the educational ones. Strategically, the left are smarter than the right.

  17. The American Revolution was not fomented on the internet.

    The internet didnt’ exist at the time of the American Revolution.

    Imagine……. if the forum members here spent less of their time and energy preaching to the choir, here, and more time discussing the issue with the ill-informed wherever they might be found?

    First, you don’t know that that isn’t happening.
    Second, this is all open to the public and googlable; it’s not just ‘preaching to the choir.’
    Third, preaching to the choir has its uses anyway. It’s good to discuss things, workshop ideas and share information with like minded people. This is how you expand and flesh out your own positions.

  18. Diogenes

    The younger generation is much more left wing because educational instruction – from primary right through to university – is much more left wing than it was.

    I do my little best to counteract the propaganda however you would really be surprised at the level of cynicism when you actually talk to the kids – they know to parrot back what is expected of them to get a good mark.

    My classes are mixed ability the brightest take a keen interest in politics – and the fact that they are working at Maccas or KMart & paying tax & medicare levy & super and are totally peed off with the fact some of their year mates are earning more on youth allowance (mum & dad, all aunties & uncles & all 4 grandparents on newstart or DSP (grandparents not old enough for pension)) really helps

  19. Petros

    I like to point out the similarities of Imagine with the plans of Pol Pot. Leftards really don’t like to hear it.

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