American Elephants


Confusion and Misconception are Rampant Everywhere by The Elephant's Child

Friedrich Hayek once wrote: “Buying and selling were a procedure for discovering facts, which if the procedure did not exist, would remain unknown or at least would not be used.” The full name of Adam Smith’s classic work was “An Inquiry Into the Nature and Causes of the Wealth of Nations,“as the Coyote Blog noted today:

The fact that AOC and other modern admirers of socialism can fret about poverty is, as they imagine, attributable to capitalism, but not in the way they think. Capitalism did not cause the poverty, it created the situation in which poverty is an issue with but a minority of the population (rather than essentially everyone). Before capitalism, fretting about poverty would just have been fretting about .. the way things are for everyone.

One of the earliest things that someone learns about politics, at least in Democrat families, is that Republican tax cuts only go to the rich. They simply do not understand the workings of the economy. Because “the Rich” pay way more in taxes than the rest of us, they get proportionally bigger tax cuts. What we are seeing out there is the result of everyone’s tax cuts. Someone remarked on the radio this week, in the wake of the  3½% remarkable growth spurt in the economy, that “people have decided to go shopping.”

Well, yes they have. I learned some time back that apparently large numbers of people have chosen to have their income taxes withheld from their wages, and really don’t know how much they paid in taxes — but only how big their refund was. This year, their refunds were somewhat bigger, and they have the money to do some extra shopping. I guess they worry that if they don’t have taxes withheld, they may not have the funds to pay on April 15. The rich don’t have to wait for refunds, so when they receive a tax cut, they have the extra funds to expand, grow their businesses, hire, invent—and make the economy grow. How do we tell? By reading the facts of the buying and selling that is going on.

This explanation does not fit into the world view of Democrats. They don’t buy it. I remember a few years back, a writer at the Wall Street Journal wrote in astonishment that “Elizabeth Warren has only a childlike understanding of economics.” That is why you have so many Democrats who want to get rid of capitalism. Much of the climate activists’ purpose is to use climate as a way to rid the world of capitalism. Mentioning Venezuela as a notable example of the abject failure of Socialism gets you nowhere. They do not, and cannot, accept the starving people of Venezuela as the inevitable result of Socialism. It just does not compute. It is based, of course, on a failure to understand human nature and an ignorance of history.

There has been lots of conversation about the vast crowd of Democrats running for the presidency. All are positive that Trump is so despised, so awful, that only the few gap-toothed deplorables in flyover country would vote for a second term. Joe Biden makes the twenty-first Democrat candidate to announce a run. Some reporters have remarked that name-familiarity should help him, but according to polls, large numbers of Americans have no idea who he is, and do not recognize a picture.

Those of us who have always assumed that we can depend on the wisdom of the American people may want to give some consideration to running for your local School Board. Or at the very least picking up one of Hayek’s books at the Library: The Fatal Conceit: The Errors of Socialism, The Road to Serfdom, or The Constitution of Liberty.


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It may be simply that when you depend on envy, you pretty my have to insist the chosen villain got more.

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