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The 15-Year-Old Economist

This item from CNN Monday almost set me off on a rant. I’ll stop with a very brief economics lesson.

ATLANTA, Georgia (CNN) -- One day while driving with her father, Hannah Salwen noticed a Mercedes stopped next to a homeless man sitting on the curb.

“I said to my dad, ‘If that guy didn’t have such a nice car, then that guy could have a nice meal,’” the 15-year-old from Atlanta, Georgia, recalled. (full article)

Here we have another reiteration of old socialist canard that if the rich were less rich, the poor would be less poor—which is complete nonsense. “That guy” #2 is not homeless because “that guy” #1 has a Mercedes. #1 has a Mercedes because he earned the money to buy it. #2 is homeless because he doesn’t earn anything, or at least enough to provide a home for himself. If #1’s earnings ceased entirely, #2’s earnings would remain the same.

If you really want to help the homeless man on the curb, help him to increase his earning potential. You know the old maxim: give a man a fish, and you feed him for a day; teach him to fish, and really annoy PETA (or something like that).


July 10, 2008

Posted 2020·03·02 by David Kjos
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Posted in: Reruns

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