Tag Archives: Thomas Sowell

Two black economists explain how to end poverty in America

Economist Walter Williams
Economist Walter Williams

Walter Wiliams is one of my two favorite economists, the other being Thomas Sowell.

Here is his article on wealth and poverty on Creators written by Dr. Williams.

First, real poverty is not common in America:

There is no material poverty in the U.S. Here are a few facts about people whom the Census Bureau labels as poor. Dr. Robert Rector and Rachel Sheffield, in their study “Understanding Poverty in the United States: Surprising Facts About America’s Poor”, report that 80 percent of poor households have air conditioning; nearly three-quarters have a car or truck, and 31 percent have two or more. Two-thirds have cable or satellite TV. Half have one or more computers. Forty-two percent own their homes. Poor Americans have more living space than the typical non-poor person in Sweden, France or the U.K. What we have in our nation are dependency and poverty of the spirit, with people making unwise choices and leading pathological lives aided and abetted by the welfare state.

Second, the “poverty” is not caused by racism, but by poor choices:

The Census Bureau pegs the poverty rate among blacks at 35 percent and among whites at 13 percent. The illegitimacy rate among blacks is 72 percent, and among whites it’s 30 percent. A statistic that one doesn’t hear much about is that the poverty rate among black married families has been in the single digits for more than two decades, currently at 8 percent. For married white families, it’s 5 percent. Now the politically incorrect questions: Whose fault is it to have children without the benefit of marriage and risk a life of dependency? Do people have free will, or are they governed by instincts?

There may be some pinhead sociologists who blame the weak black family structure on racial discrimination. But why was the black illegitimacy rate only 14 percent in 1940, and why, as Dr. Thomas Sowell reports, do we find that census data “going back a hundred years, when blacks were just one generation out of slavery … showed that a slightly higher percentage of black adults had married than white adults. This fact remained true in every census from 1890 to 1940”? Is anyone willing to advance the argument that the reason the illegitimacy rate among blacks was lower and marriage rates higher in earlier periods was there was less racial discrimination and greater opportunity?

Third, avoiding poverty is the result of good choices:

No one can blame a person if he starts out in life poor, because how one starts out is not his fault.

If he stays poor, he is to blame because it is his fault. Avoiding long-term poverty is not rocket science. First, graduate from high school. Second, get married before you have children, and stay married. Third, work at any kind of job, even one that starts out paying the minimum wage. And finally, avoid engaging in criminal behavior. It turns out that a married couple, each earning the minimum wage, would earn an annual combined income of $30,000. The Census Bureau poverty line for a family of two is $15,500, and for a family of four, it’s $23,000. By the way, no adult who starts out earning the minimum wage does so for very long.

Fourth, what stops people from making good choices is big government:

Since President Lyndon Johnson declared war on poverty, the nation has spent about $18 trillion at the federal, state and local levels of government on programs justified by the “need” to deal with some aspect of poverty. In a column of mine in 1995, I pointed out that at that time, the nation had spent $5.4 trillion on the War on Poverty, and with that princely sum, “you could purchase every U.S. factory, all manufacturing equipment, and every office building. With what’s left over, one could buy every airline, trucking company and our commercial maritime fleet. If you’re still in the shopping mood, you could also buy every television, radio and power company, plus every retail and wholesale store in the entire nation”. Today’s total of $18 trillion spent on poverty means you could purchase everything produced in our country each year and then some.

Regarding those last two points, here is Thomas Sowell:

Economist Thomas Sowell blames welfare for killing the black family
Economist Thomas Sowell blames welfare for killing the black family

To illustrate this point, here’s a graph with some helpful data taken from the U. S. Census.

Black women were more likely to be married before welfare programs
Black women were more likely to be married before welfare programs

In fact, there is a whole video featuring Thomas Sowell to go with this graph:

And an article to go with it:

If we wanted to be serious about evidence, we might compare where blacks stood a hundred years after the end of slavery with where they stood after 30 years of the liberal welfare state. In other words, we could compare hard evidence on “the legacy of slavery” with hard evidence on the legacy of liberals.

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 cold fact is that the poverty rate among blacks fell from 87 percent in 1940 to 47 percent by 1960. This was before any of those programs began.

Over the next 20 years, the poverty rate among blacks fell another 18 percentage points, compared to the 40-point drop in the previous 20 years. This was the continuation of a previous economic trend, at a slower rate of progress, not the economic grand deliverance proclaimed by liberals and self-serving black “leaders.”

Ending the Jim Crow laws was a landmark achievement. But, despite the great proliferation of black political and other “leaders” that resulted from the laws and policies of the 1960s, nothing comparable happened economically. And there were serious retrogressions socially.

Nearly a hundred years of the supposed “legacy of slavery” found most black children being raised in two-parent families in 1960. But thirty years after the liberal welfare state found the great majority of black children being raised by a single parent.

The rest of the article points out how even crime rates among blacks were caused by the implementation of soft law enforcement policies by progressives. Just look at the big cities if you want to know what it is like for blacks to be ruled by Democrats. It sucks!

If everybody started to read more Thomas Sowell books, we would be much better off as a country! Only good things happen when people stop watching TV and listening to music and watching movies, and instead settle down in a chair with a Thomas Sowell book. I recommended a bunch of them in a previous post.

Dave Rubin interviews my favorite economist: Thomas Sowell

Economist Thomas Sowell
Dr. Thomas Sowell – the best economics teacher you will ever learn from

Two half-hour interviews with my FAVORITE economist, Thomas Sowell. If you haven’t read any books by Thomas Sowell, then you don’t know how wonderful economics can be. Thomas Sowell stands for the proposition that before you adopt an economic policy, you have to consider what incentives it will create for everyone involved. And he backs up his ideas with studies that span the whole range of times and places. It turns out that many bad ideas have already been disproved in different times and places, and Thomas Sowell knows them all. Thomas Sowell is a man of facts and evidence.

Description of part one:

Dr. Thomas Sowell (Economist) joins Dave to discuss his Marxist past, free speech on campuses, distinguishing between classical liberalism and libertarianism, and his new book “Discrimination & Disparities.

Part one:

“This idiot has stumbled on something that will ruin us all”. LOL!

Description of part two:

Dr. Thomas Sowell (Economist and Author) joins Dave to discuss the role of government, the problem with minimum wage laws, his experience as a black conservative, debunking systemic racism, the importance of common decency, and his new book “Discrimination & Disparities.”

Part two:

In the comments, Dave explains that YouTube has demonetized the video. I suppose that this is because the video contains conservative ideas, and YouTube is owned by the far-left Google.

Anyway, I recommend getting your hands on some Thomas Sowell books.

This one seems to be a collection of introductory essays:

The Thomas Sowell Reader

I haven’t read it, but it has the highest reviews of any of his books. What I would recommend is picking up one of the OLDER versions of his “Basic Economics”:

Basic Economics

You can get a used one for a couple of bucks. I read the second edition a while back, and I remember that just reading the first 3 chapters knocked my socks off. Some helpful person even uploaded the audio of the edition I read to YouTube. Just listen to the first 3-4 chapters, and you’ll see what I mean. No one who wants to understand how the world really works can ignore Thomas Sowell.

One that I still haven’t read that’s short and sweet is:

The Vision of the Anointed

But a later book that is similar is actually my favorite Thomas Sowell book:

Intellectuals and Society

I also liked this one a lot:

Economic Facts and Fallacies

I once dated a homeschooled girl who came from a large, rural family. This family produced brilliant children, but the parents didn’t really believe in college. I told the girl that to marry me, she would have to get a college degree. She and her parents didn’t really like that, and we broke up. However, I did tell her that she should read Thomas Sowell, because she had some left of center views on public policy, e.g. – health care. I found out later that she went on to read SIX Thomas Sowell books in two months. After that, she went on to get a BA in economics via distance learning, with a 4.0 GPA! I think part of that transformation is due to the Thomas Sowell books. Thomas Sowell changes lives.

I have to include this clip of Thomas Sowell from a long time ago:

He understood the things we are fighting about today decades ago. This man should have been our first black president.

By the way, Dave Rubin does a lot of good interviews. This one that he did with Larry Elder was worth watching.

Two black economists explain how to not be poor in America

Economist Walter Williams
Economist Walter Williams

Walter Wiliams is one of my two favorite economists, the other being Thomas Sowell.

Here is his article on wealth and poverty on Creators written by Dr. Williams.

First, real poverty is not common in America:

There is no material poverty in the U.S. Here are a few facts about people whom the Census Bureau labels as poor. Dr. Robert Rector and Rachel Sheffield, in their study “Understanding Poverty in the United States: Surprising Facts About America’s Poor”, report that 80 percent of poor households have air conditioning; nearly three-quarters have a car or truck, and 31 percent have two or more. Two-thirds have cable or satellite TV. Half have one or more computers. Forty-two percent own their homes. Poor Americans have more living space than the typical non-poor person in Sweden, France or the U.K. What we have in our nation are dependency and poverty of the spirit, with people making unwise choices and leading pathological lives aided and abetted by the welfare state.

Second, the “poverty” is not caused by racism, but by poor choices:

The Census Bureau pegs the poverty rate among blacks at 35 percent and among whites at 13 percent. The illegitimacy rate among blacks is 72 percent, and among whites it’s 30 percent. A statistic that one doesn’t hear much about is that the poverty rate among black married families has been in the single digits for more than two decades, currently at 8 percent. For married white families, it’s 5 percent. Now the politically incorrect questions: Whose fault is it to have children without the benefit of marriage and risk a life of dependency? Do people have free will, or are they governed by instincts?

There may be some pinhead sociologists who blame the weak black family structure on racial discrimination. But why was the black illegitimacy rate only 14 percent in 1940, and why, as Dr. Thomas Sowell reports, do we find that census data “going back a hundred years, when blacks were just one generation out of slavery … showed that a slightly higher percentage of black adults had married than white adults. This fact remained true in every census from 1890 to 1940”? Is anyone willing to advance the argument that the reason the illegitimacy rate among blacks was lower and marriage rates higher in earlier periods was there was less racial discrimination and greater opportunity?

Third, avoiding poverty is the result of good choices:

No one can blame a person if he starts out in life poor, because how one starts out is not his fault.

If he stays poor, he is to blame because it is his fault. Avoiding long-term poverty is not rocket science. First, graduate from high school. Second, get married before you have children, and stay married. Third, work at any kind of job, even one that starts out paying the minimum wage. And finally, avoid engaging in criminal behavior. It turns out that a married couple, each earning the minimum wage, would earn an annual combined income of $30,000. The Census Bureau poverty line for a family of two is $15,500, and for a family of four, it’s $23,000. By the way, no adult who starts out earning the minimum wage does so for very long.

Fourth, what stops people from making good choices is big government:

Since President Lyndon Johnson declared war on poverty, the nation has spent about $18 trillion at the federal, state and local levels of government on programs justified by the “need” to deal with some aspect of poverty. In a column of mine in 1995, I pointed out that at that time, the nation had spent $5.4 trillion on the War on Poverty, and with that princely sum, “you could purchase every U.S. factory, all manufacturing equipment, and every office building. With what’s left over, one could buy every airline, trucking company and our commercial maritime fleet. If you’re still in the shopping mood, you could also buy every television, radio and power company, plus every retail and wholesale store in the entire nation”. Today’s total of $18 trillion spent on poverty means you could purchase everything produced in our country each year and then some.

Regarding those last two points, here is Thomas Sowell:

Economist Thomas Sowell blames welfare for killing the black family
Economist Thomas Sowell blames welfare for killing the black family

To illustrate this point, I stole a graph from the Twitter feed of a famous man-blaming sociology professor who shall not be named (although his name rhymes with Vlad FillBox).

Black women were more likely to be married before welfare programs
Black women were more likely to be married before welfare programs

In fact, there is a whole video featuring Thomas Sowell to go with this graph:

And an article to go with it:

If we wanted to be serious about evidence, we might compare where blacks stood a hundred years after the end of slavery with where they stood after 30 years of the liberal welfare state. In other words, we could compare hard evidence on “the legacy of slavery” with hard evidence on the legacy of liberals.

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 cold fact is that the poverty rate among blacks fell from 87 percent in 1940 to 47 percent by 1960. This was before any of those programs began.

Over the next 20 years, the poverty rate among blacks fell another 18 percentage points, compared to the 40-point drop in the previous 20 years. This was the continuation of a previous economic trend, at a slower rate of progress, not the economic grand deliverance proclaimed by liberals and self-serving black “leaders.”

Ending the Jim Crow laws was a landmark achievement. But, despite the great proliferation of black political and other “leaders” that resulted from the laws and policies of the 1960s, nothing comparable happened economically. And there were serious retrogressions socially.

Nearly a hundred years of the supposed “legacy of slavery” found most black children being raised in two-parent families in 1960. But thirty years after the liberal welfare state found the great majority of black children being raised by a single parent.

The rest of the article points out how even crime rates among blacks were caused by the implementation of soft law enforcement policies by progressives. Just look at the big cities if you want to know what it is like for blacks to be ruled by Democrats. It sucks!

You might have heard about Thomas Sowell because some celebrity I don’t know anything about has been tweeting all kinds of stuff by Dr. Sowell:

Now this celebrity is tweeting my favorite economist Thomas Sowell
Now this celebrity is tweeting my favorite economist Thomas Sowell

If everybody started to read more Thomas Sowell books, we would be much better off as a country! Only good things happen when people stop watching TV and listening to music and watching movies, and instead settle down in a chair with a Thomas Sowell book. I recommended a bunch of them in this previous post.

Dave Rubin interviews my favorite economist: Thomas Sowell

Economist Thomas Sowell
Dr. Thomas Sowell – the best economics teacher you will ever learn from

Two half-hour interviews with my FAVORITE economist, Thomas Sowell. If you haven’t read any books by Thomas Sowell, then you don’t know how wonderful economics can be. Thomas Sowell stands for the proposition that before you adopt an economic policy, you have to consider what incentives it will create for everyone involved. And he backs up his ideas with studies that span the whole range of times and places. It turns out that many bad ideas have already been disproved in different times and places, and Thomas Sowell knows them all. Thomas Sowell is a man of facts and evidence.

Description of part one:

Dr. Thomas Sowell (Economist) joins Dave to discuss his Marxist past, free speech on campuses, distinguishing between classical liberalism and libertarianism, and his new book “Discrimination & Disparities.

Part one:

“This idiot has stumbled on something that will ruin us all”. LOL!

Description of part two:

Dr. Thomas Sowell (Economist and Author) joins Dave to discuss the role of government, the problem with minimum wage laws, his experience as a black conservative, debunking systemic racism, the importance of common decency, and his new book “Discrimination & Disparities.”

Part two:

In the comments, Dave explains that YouTube has demonetized the video. I suppose that this is because the video contains conservative ideas, and YouTube is owned by the far-left Google.

Anyway, I recommend getting your hands on some Thomas Sowell books.

This one seems to be a collection of introductory essays:

The Thomas Sowell Reader

I haven’t read it, but it has the highest reviews of any of his books. What I would recommend is picking up one of the OLDER versions of his “Basic Economics”:

Basic Economics

You can get a used one for a couple of bucks. I read the second edition a while back, and I remember that just reading the first 3 chapters knocked my socks off. Some crazy person even uploaded the audio of the edition I read to YouTube. Just listen to the first 3-4 chapters, and you’ll see what I mean. No one who wants to understand how the world really works can ignore Thomas Sowell.

One that I still haven’t read that’s short and sweet is:

The Vision of the Anointed

But a later book that is similar is actually my favorite Thomas Sowell book:

Intellectuals and Society

I also liked this one a lot:

Economic Facts and Fallacies

I once dated a homeschooled girl who came from a large, rural family. This family produced brilliant children, but the parents didn’t really believe in college. I told the girl that to marry me, she would have to get a college degree. She and her parents didn’t really like that, and we broke up. However, I did tell her that she should read Thomas Sowell, because she had some left of center views on public policy, e.g. – health care. I found out later that she went on to read SIX Thomas Sowell books in two months. After that, she went on to get a BA in economics via distance learning, with a 4.0 GPA! I think part of that transformation is due to the Thomas Sowell books. Thomas Sowell changes lives.

I have to include this clip of Thomas Sowell from a long time ago:

He understood the things we are fighting about today decades ago. This man should have been our first black president.

By the way, Dave Rubin does a lot of good interviews. This one that he did with Larry Elder was worth watching.

Thomas Sowell: does affirmative action help minorities to get ahead?

Economist Thomas Sowell
Economist Thomas Sowell – the best economist in the world

My favorite economist, Thomas Sowell has an article in Investors Business Daily that explains what affirmative action really does to minorities.

Excerpt:

Affirmative action is supposed to benefit black and other minority students admitted with lower academic qualifications than some white students who are rejected.

[…]Despite much media spin, the issue is not whether blacks in general should be admitted to higher-ranked or lower-ranked institutions.

The issue is whether a given black student, with given academic qualifications, should be admitted to a college or university where he would not be admitted if he were white.

Much research over the years has confirmed… that admitting black students to institutions for which their academic preparation is not sufficient can be making them worse off instead of better off.

I became painfully aware of this problem more than 40 years ago when I was teaching at Cornell University and discovered that half the black students there were on some form of academic probation.

These students were not stupid or uneducable. On the contrary, the average black student at Cornell at that time scored at the 75th percentile on scholastic tests. Their academic qualifications were better than those of three-quarters of all American students who took those tests.

Why were they in trouble at Cornell, then? Because the average Cornell student in the liberal arts college at that time scored at the 99th percentile. The classes taught there — including mine — moved at a speed geared to the verbal and mathematical level of the top one percent of American students.

The average white student would have been wiped out at Cornell. But the average white student was unlikely to be admitted to Cornell in the first place. Nor was a white student who scored at the 75th percentile.

That was a “favor” reserved for black students. This “favor” turned black students who would have been successful at most American colleges and universities into failures at Cornell.

None of this was peculiar to Cornell. Black students who scored at the 90th percentile in math had serious problems trying to keep up at MIT, where other students scored somewhere within the top 99th percentile.

Nearly one-fourth of these black students with stellar qualifications in math failed to graduate from MIT, and those who did graduate were concentrated in the bottom tenth of the class.

There were other fine engineering schools around the country where those same students could have learned more, when taught at a normal pace, than at a breakneck speed geared to students with extremely rare abilities in math.

[…]Mismatching students with educational institutions is a formula for needless failures.

The book “Mismatch” by Sander and Taylor is a first-rate study of the hard facts. It shows, for example, that the academic performances of black and Hispanic students rose substantially after affirmative action admissions policies were banned in the University of California system.

Instead of failing at Berkeley or UCLA, these minority students were now graduating from other UC campuses. They were graduating at a higher rate, with higher grades, and now more often in challenging fields like math, science and technology.

[…]Does the actual fate of minority students not matter to the left as much as their symbolic presence on a campus?

Now, you might ask yourself on what basis Sowell makes all these assertions, so here are a few of his academic publications about affirmative action, which are state-of-the-art:

Now, I was recently talking to a friend who has empirically false views on a number of topics. He is opposed to capital punishment, opposed to gun ownership, supports affirmative action, and so on. When I ask him why he believes these things, he doesn’t point to any evidence. I offered to give him studies showing that capital punishment has a deterrent effect on crime, that concealed carry laws reduce violent crime rates, that affirmative action laws harm minorities, etc.

If we really want to help minorities, we have to do what makes sense according the evidence. We have to aim to do good, not just feel good.