Facts and Fallacies with Thomas Sowell
by Uncommon KnowledgeDoes affordable housing require rent control? No. Not even in Manhattan. And in fact, it is no coincidence that the cities with the most rent control (NYC and San Francisco) also have the highest rent. There is no incentive on the account of the landlords and tenants to build more housing or improve worn out units.
Does race account for differences in income? Is the “fatherless family” amongst African Americans a legacy of slavery? Is household income a good indicator of the state of our economy? No, no, and no.
Uncommon Knowledge all-star Thomas Sowell returns to talk about his latest edition of Economic Facts and Fallacies, and continues his legacy as refreshingly straightforward and clear on economic issues.
To learn more about income equality, race and economics, and the reasons for Thomas Sowell’s persistent pessimism, watch the full interview below.
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107 Comments
I have listened to and read men and women who are as wise and intelligent as Mr. Sowell.
Never wiser and rarely as intelligent.
Clearly, Thomas Sowell has had all of his ducks lined up, for a very long time.
If Barry had 1/10 the intelligence that Thomas has, the country would be ok. Unfortunately he doesn't.
Why aren't Thomas Sowell and Walter Williams the leaders of the Black Community? Why does it have to be the "Justus" Brothers, Jesse Jackson and Al Sharpton? Yeah, I know why.
+Hanzo+
HOW in the HELL are we to maintain our "racist creds" with fellow TEA partiers if we listen to a BRILLIANT "black" guy?
I used to love him 'til I realized that "conformity" was King…
Sorry "uncle" Tom, but according to the MSM, you just ain't "good" fer us racist types that desire freedom for ALL…
LOVE the broad statement made about the things believed through being repeated. Whenever you run across on of these concepts that need to be believed for political reasons, you will find that you are not allowed to QUESTION them.
Right away I see a problem. Rent control is such a tiny portion of housing to be insignificant. They state the percent price going from the beginning to the end of the 20th century going from 23% to 33%. They refuse to speak about why there is this growth causing the false shortage of houses. And that is IMMIGRATION. It goes to show the many insidious costs of immigration to the real, average American who derives no real benefit and is burdened with many more costs. This is only for the rich and those who have an agenda to turn the US in to some non-White cesspool.
All the Reverend "Scammers" out there couldn't hold a candle to Mr. Thomas Sowell. And we all know who those scammers are. This man's intellect is feared by these race hustlers. That's why you never hear them throwing Mr. Sowell under the bus. His intelligence is kryptonite to the likes of Sharpton, Jackson, Wright, Farrakhan, et al…
Here is another well known economist as well. Walter Williams: Up From the Projects
http://www.youtube.com/watch?v=7butJGdUmK0&fe...
In 1981, Secretary of Health Education and Welfare Patricia Harris wrote in the Washington Post that libertarian economists Walter Williams and Thomas Sowell are "middle class" so they "don't know what it is to be poor."
In fact, Williams grew up in a single-parent household in a poor section of Philadelphia. He was raised by his mother, who was a high school dropout. The family spent time on welfare, and eventually moved into the Richard Allen public housing project. (Sowell, whose father died before he was born, was the son of a maid.)
"It will be found an unjust and unwise jealousy to deprive a man of his natural liberty upon the supposition he may abuse it." George Washington
You are spot on.
So is Mr. Sowell.
You can say that again.
Both honorable and respectable men Washington76…..
Appreciate the link and info….
I read Mr. Sowell very often and always enjoy his work while obtaining more knowledge about various important affairs. I will read up on Mr. Williams as well.
I've been reading his column for years. He's the best of the best.
Both men will inspire you with their stories. They have lived the American dream. The very dream that Dr.King mentioned in his speeches.
"you have to develop skills…"
How dare he expect individual "blacks" to do the "white thing"… (hardly…)
I can't mention his name, but one of the executive vice-presidents of the bank I do business with (voluntarily) ( he is in the corporate office) makes 10 times as much as I do… Must be "affirmative action", right?
Can't be ability, drive or intelligence on his part…
Great vid, I love W.E.W.
Thanks sprout.
It is not immigration. It is exactly what Mr. Sowell says. You need an incredible resume to even begin to debate this man. Your peculiar life-view on immigration is not enough.
Because he tells them they have individual responsibilities. The people in the Black community who listen to these men are the people the Progs don't want you to know about. This section of the Black Community demonstrates that there is no monolithic "Black Community". Without the monolith, there is no control.
Sure would like to be witness to a talk between,…..
Thomas Sowell and Van Jones.
Because those pimping, race hustling thugs only pander to the lowest common denominator, the dregs of society. Their particular brand of clientele are not articulate enough, nor educated enough to read
"multi-syl-lable" words, let alone speak the Kings English.
But of course, I digress.
I understood your question to be rhetorical.
Stalk… That is (will be) corn…
"race" is a lie – the morality of ability tells all…
Two most able men…
Wouldn't that be neat?
Hold it at the White House.
Convene a Beer Summit.
Announce it as a "Teachable Moment".
Obama could be the waiter, and take the drink orders.
It will be a very, very sad day in this country when we lose Mr. Sowell. The man is a rare island of common sense, wisdom and knowledge. His economics text should be the standard text taught to all high school children nation wide. Of course, we first have to get basic economics on the curriculum that means it'll likely have to bump environmental literacy in places like Maryland.
Thank-you Dr. Sowell for an enlightening perspective on the American condition. Sowell dismantles so many of the myths that form the basis of the Democratic party platforms with simple logic. Based on historical facts, Sowell shows how Lyndon Johnson's "Great Society" was the beginning of the end for a once great society. I also believe Dr. Sowell clearly pinpoints one major problem of today's society. 'That facts today seem optional.' It's no wonder the average voter can't trust anything that is printed or spoken by the so-called experts. Facts are optional.
There is no area I can think of that has benefited from immigration. Areas with high immigration have high crime and low standards of living. I don't care about Sowell's incestuous pats on the back – reality damns immigration.
As brilliant as he is principled–just a wise and decent man.
"There is no area I can think of that has benefited from immigration."
Ya, except of course for the whole United States of America thing…
How do you define benefit?
When I need a dose of sanity in my world, I look for this gentleman's most recent articles. He never disappoints.
Like Slick Will said – "a few years ago he'd a been gettin' us coffee… "
If ya think about it, anything more is above o-HOLE's pay-grade…
.
Dr Sowell can be the real Minister of Truth in the Bachmann administration..
Ann
Walter and Thomas.. Sowell "brothers" from two different incredible mothers..!!
The reason he doesn't talk about "why there is the growth causing the false shortage of houses" is because in a world without rent controls, growth does not cause a shortage of houses. It would create a higher demand for houses, which would in turn cause the prices of houses to go up, which would, in turn, cause more developers to build spec houses since they could make a bigger profit with higher prices. If anything, those builders would likely be employing a significant number of those immigrants, thus creating jobs and stimulating the economy. Also, since in a world without rent controls it is profitable for a landlord to be in the business and since well-maintained properties command higher rents and better-paying tenants, there is an incentive for them to keep their properties well-maintained. Again, likely employing more labor, some of it skilled and some not, but definitely boosting the economy. I recommend Dr. Sowell's book Basic Economics as an outstanding and in-depth starting point if you are truly interested in this subject and want to contribute truly substantive comments on subjects economic.
"It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it."
Thomas Sowell
Where would landlords in NYC build more units?
Forget Van Jones. I want to see a debate on national television between Dr. Sowell and Obama. Van Jones can be the waiter and take drink orders!
Hell, I'll be the waiter and take drink orders for that one!
Your sarcasm is well noted, yet you should end such a rant with "/s" just in case some bigoted liberal tries to screen-cap your post as "proof" that all conservatives are racist.
I, for one, see your sarcasm, and note it as such.
That being said, Thomas Sowell is one of the finest minds of our time, yet is largely unknown to the majority of Americans. Hell, i hadn't heard of him until 2008.
That's not the issue. The price fixing prevents the units from gravitating to their true cost. Why does everyone have to live in down town New York?
LOL!
I am a product of Immigration, as are every single person on this continent, except for the American Indians. How can you say, in all seriousness, that immigration is a problem? My mother came here in '68, was well off, and created a life and a family here. We never had to go on welfare, or food stamps, and lived in an upper-middleclass neighborhood. I went to some of the finest schools, including private institutions. So tell me, how are immigrants destroying this country?
"Immigrants" invented the lightbulb.
"Immigrants" created the railways of this country.
"Immigrants" harnessed electricity.
See where this is going?
You are right. I would like to see how much real estate would be in downtown NY without the rent controls. And I would like to see who could afford it
I don't do "sarc tags" – You either get it or you don't… Bigoted "liberal" trolls? Bring it on… I will destroy them. Never failed, never will…
My view of humanity is "iron-clad", and none of their weak arguments has a chance against mine. They hate me for my certainty…
Who is John Galt? Find out, and you will see… I live for no other than my self… Have the courage to truly understand that statement and you will always be free…
Unless you're 100% Native American, your ancestors were IMMIGRANTS. Deal with it.
If Bachmann wins, there'll be no need for a "minister of truth." Dr. Sowell can be Sec of Treasury, perhaps…!
Actually there are plenty of places to build. We will not even begin to talk about the renovation of dilapated buildings.
….and *boom* goes the dynamite.
I'm sure that will sail right over his helmeted head.
Obama looks and sounds bush league enough on his own. Do we really want to throw him in with the Pro's?
Oh wait….Hell, yeah…..do it.
Nolan Ryan pitching to third graders.
That would be perfect. The man can distill complex economic theory down to almost any level of comprehension. Conversely, he would confuse Krugman just by clearing his throat.
I have always admired this man. He has put LOONS in their place for quite a while now. I remember seeing him absolutely annihlate the COMMUNIST PIG frances fox piven in an open forum. Thomas Sowell, Walter Williams, Herman Cain, Larry Elder, Angela McGlowan, Daneen Borelli are the role models that young African Americans should be looking up to. Unfotunately too many of them don't even know who they are, but they do know who al sharpton, jesse jackson, snoop dog, chris brown and other POOR EXAMPLES are! TRULY A SHAME!
How about tearing down that big, useless building on the East River? That would yield plenty of prime real estate.
UM, bright bulb.
There would be just as much 'real' estate in downtown Manhattan after the imposition of a free market than before.
Sparky.
It's too bad Mr. Sowell has sworn off politics… this guy would talk circles around the people in Congress. Only a handful would be able to speak intelligently with him, and they'd be in agreement.
Even the Native American's ancestors had to cross the Bering Strait at some point in the past! No Passport Control back then though.
Now this is how I like to have my morning coffee, listening to a man that is "above" the rest. BHO should listen to him.
I LOVE this man and his his brilliant mind. What a great teacher he is.
To all the fine folks who post here, less the trolls, isn't it a good feeling to be in one of the pockets of sanity in this country?
I wouldn't. You'd never be able to hear Mr. Sowell as Van Jones would keep screeching "Uncle Tom!" and "Sellout!" every time Mr. Sowell opened his mouth.
http://www.cato.org/pubs/pas/pa-274.html
"The most striking observation is that the graphs of rents in free-market cities follow a standard bell curve. The vast majority of advertised rents cluster around the median, with between 33 percent and 40 percent below the census median. The median advertised rent is rarely more than $50 above the census median. Characteristically, there is a steep climb on the low-rent side of the curve, followed by a long tail toward the "luxury" end of the market."
I live in a rent stabilized apartment myself, and I pray for the day New Yorkers come to their senses and abolish rent control and rent stabilization.
Reminds one of the story of a man, watching several people digging in a large, vacant lot in NYC at the turn of the last century. He asked one guy, "What are you doing?" to which the man replied, "What does it look like, you idiot? I'm digging a hole!" He got several, similar responses until he came to the little guy at the end, an obviously Italian guy, fresh off the boat from Naples. "What are you doing?" he asked. The little Italian guy says, "I'ma buildin' a cathedral!!!!" Dr. Sowell is a national treasure. Too bad the political parties couldn't have recruited him to run for office. He'd at least bring sanity to Washington…which is currently sadly missing.
I have the utmost respect for Dr. Sowell. I have read most ,but not all yet, of his works. He has many many quotes that have statements of significant truth. One of my favorites is:
"Most people who read the "The Communist Maifesto" probably have no idea that it was written by a couple of young men who had never worked a day in their lives, and who neverthless spoke boldly in the name of "the workers"."
Enuf said!
Stop hyphenating Americans while acting as if you have advice for them
Sowell is from the same community that produces "thugs" "ni**ers" and "monkeys", so why is he any different?
Or is it when you like what he says, only then can he be seen as a individual?
Most people don't feel like you do you D!ipsh!t. You're obviously trolling. Go back to the Daily Kos where the rest of your racist friends are
Oh, just go away.
American Indians are immigrants, from Asia across the Bering Strait. North America had no humans originally. Every human in North and South America is an immigrant.
Well, then, let's just take that logic all the way–homo sapiens started out as a nomadic creature; ergo, all humans are immigrants.
Look up a little anthropology. The Fertile Crescent, for example, is one of the world's first centers of immigration.
Local populations in the Fertile Crescent entered the Neolithic Era and adopted agriculture, resulting in a population explosion, towns, and ultimately cities.
A local development, not involving immigration.
My bad! I do not know allot about farming. Thank you kindly for your insight, and knowledge.
Reading comprehension isn't your strong suit, is it?
Hey racist, run and hide under your sheet!
Amen!
It is exquisitely depressing to see that a blog about Anthony Weiner garners over 1,000 comments and a great man like Thomas Sowell gets less than 100.
Everything he said here about the state of modern "education" is proven by the comment results I just referenced. It's a sad world we live in. The lunatics are running the asylum.
And you will know the motivations of the instructor that assigns that reading by whether or not they point out that fact.
That's what I've been saying for some time now. Maybe now you'll consider the possibility?
On top of your grave?
Regardless of what your Marxist indoctrinators have told you, and regardless of what your communist handlers tell you, you are an uneducated bigot of epic proportion. Listen to the man and understand what he says instead of committing yourself to the regressive racist memes. You and the rest of your asshat brigade are clubbing yourselves to wet spots. Keep going and save me the trouble or grow the hell up.
Maryland is a shining spire atop the Cathedral of Stupidity!
"Reverend" is what you get in front of your name when you're not smart enough to get "Dr.".
And I would add that you don't have to be all that smart to get a doctorate (it helps, though), but you do have to be determined.
Stop hyphenating Americans so you can punish the ones you don’t approve of.
As if you favor ending government requirements that race and ethnicity on most Gov. Documents, I.e. Census, IRS, job apps, welfare forms ECT….. Be eliminated.
You prove that hypocrisy, projection and race baiting to be the lib moral code.
Speak o' the Devil: http://www.thenoseonyourface.com/wp-content/uploa...
Underscores our point nicely.
i wouldn't. it would be like watching Mike Tyson vs. Cecily Tyson. or Dr. Ruth trying to explain sex to an artichoke…
Learned a new word recently. Really fits here. This person? is a dipshidiot.
You're missing the point.
With rent control, there is no incentive to fix up the buildings, or, heaven forbid, tear down and build new. It means a lot of aging, substandard apartments. You get what you pay for, and the landlords give only what they have to without going to jail. It's the minimum wage of housing!
The whole point of economics is that prices find an equilibrium. Sometimes that discovery process is painful but the end result is always preferable to artificially maintaining a situation off of the natural equilibrium.
Take a look at the interesting ethanol/corn/tequila (agave) situation — farmers have a strong incentive to grow corn for ethanol, which raises the prices of corn for other uses, agave farmers jump to corn, and tequila becomes more expensive. Only because ethanol is subsidized (incentive), thus disrupting the natural economic equilibrium.
"just plain Thinkonomics" That's hilarious!
A "reverend" who extols the virtues of vice. The man was a walking contradiction.
Thomas Sowell is, and has been for a long time, a personal hero of mine.
Because there is a LOT OF MONEY in RACEBAITING! sharpton and jackson are MILLIONAIRES who have made TONS OF MONEY RACEBAITING. They could NEVER have achieved that financial status any other way.
It should be a "RAP' summit…. now that would be some must see tv and the target audience (95% voting blacks) would very likely tune in. The good doctor would own the commie rat and the uninformed and deluded voters would become informed and with newly opened eyes, see the light.
Everyone here knows that the communities that produces "thugs" "ni**ers" and "monkeys", as you put it, are and always have been Democrat controlled. LOL……You fascist tool.
Always my go to source for the most accurate information on virtually any political or economic subject. "Intellectuals and Society" and "A Conflict of Visions" are must reads for true insight into the Progressive mind, and the damage that the so called intellectual wreaks on any society.
this is another point that's going over your head. rent control forces an artificially low price on some units in a city, artificially raising the price on the remaining units, primarily due to imposed scarcity. if rent control laws were abolished, all apartments would compete against each other in the renters' market, which would seek & find a new pricing equilibrium. yes, the rent control units would be much higher priced, but overall citywide average rents would be lower.
the second effect would be the removal of a powerful disincentive to upgrade existing units or build new ones. without the specter of rent control ruining their profit margins (they ain't gonna do it out of the goodness of their hearts!), developers & landlords would be encouraged to expand & improve the rental market 'pie' , instead of just jockeying around a stagnant quantity & quality of units. which is exactly what happens in cities without rent controls- it's not some free marketeer's fantasy.
"It's a sad world we live in."
As a reminder, God has eveyrthing in His perfect control. Romans 13:1.
Excellent complement. I wish Sowell were in congress!
re: "Local populations in the Fertile Crescent entered the Neolithic Era and adopted agriculture, resulting in a population explosion, towns, and ultimately cities. A local development, not involving immigration."
You state this as if the Fertile Crescent were a stabile area. It was compared to other regions, but it was a place in constant warfare with invaders. Every tin pot tribal chief of the time wanted the wealth of the Mesapotamian area. Population turnover there was chronic.
I love this story. The verve of the Italian immigrant, who was "building a cathedral" instead of merely digging a hole can be applied to many situations, as a variation of the glass half-empty/half-full analogy. Perception can make a huge difference in our lives.
It'll be the world's shortest debate. Van Jones will screech "Raaaaaaaaaaaaaacist!" to everything Sowell says.
dwwilli2 is a racist pig…
He is afraid of being branded "selfish". Anyone who truly understands the definition of that word would proudly embrace it – most prefer to live it while declaring it evil…
Ever notice if you ask someone why they (in their mind) "sacrificed" for another that the first words out of their mouths are either "I didn't want…" or "I wanted you to…"
"I", eh? Sounds so "selfless", doesn't it? I am right – listen for it… Always justified firstly by "I"…
I helped a coworker with a difficult task today because I didn't want to think about how much harder it would have made their day after I had left… I didn't want to think about it… I didn't want them to be burdened, but my first motivation was "relieving" myself of the burden of an unpleasant thought… Not a "sacrifice" – a rational choice…
Hell, I'm clueless on that particular point. Could be an "embryo" for all I know… I just want it to produce lots of tasty corn…
Back to my "happy puppy" (for now…)
Unfortunately, Satan is an integral part of that plan. Free will and all that. It's a blessing and a curse. I do not, and I will not, question His judgment in this or any other matter…but I do find it perplexing at times.
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