https://www.youtube.com/watch?v=8WYi-64MejU&t=303s
This is worth your time for entertainment value alone.
Sowell on Equity
Published
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Life is unfair. We got that.
What is egregious is that there are many who not only take advantage of that, but create it to profit from it.
Redlining, old and new, is one of those absolutely unnecessary but built -in for a variety of reasons, none good.
Ripping off 401K participants with fees and cuts enough to damage long term savings.
Financial shenanigans enabling high risk investments with unwitting and unwilling participants. Like the lax regulations that the last administration introduced for mid-sized banks.
Prison sentencing, even prosecution, based solely on color.
In fact, all justice is based on wealth.
These are just some of the many obstacles put into place by the powerful to ensure their positions regardless of merit.
Equality of treatment in commerce and the law is a necessary component for equity. Without those, equity will be sought through work arounds. After all, people will do what they deem necessary if the system is rigged to begin with.
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Either you didn’t watch to the end or you missed the point.
Trying to enforce equity does more harm to those it pretends to help than to those who are directly harmed.
That why Sowell thanked his teacher for his spelling skills.
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I saw the video. I know what he says and you say. Of course what I say doesn’t contradict, it’s just a dose of reality.
No matter what we do, not everyone can be a rocket scientist or an NFL quarterback. The fact that we have 160 million employees and a few million entrepreneurs will tell you that.
An admirable goal is to clean up the system so that everyone has a chance to reach their level of competence. At that point, equity will come naturally.
Right now, those in power have convinced a slew of working class Americans that any gains by the lower classes will come at their expense.
Both Sanders and Trump had the same appeal: elites in power were screwing the working classes. The only party that offers actual solutions is the Democrats. Consumer financial protection was one of those. Affordable healthcare, albeit work in progress, is another. Both of those, Republicans have tried to gut or eliminate. And yet they were efforts, with success, to level the playing field.
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You cannot have both equity and equality.
You cannot have equality of outcome without wrecking the economy so that everyone is equally poor.
No, not everyone can be a rocket scientist or football star, but everyone, in a capitalist economy, can have enough and can be a success in their own field.
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That was my point. So let’s stop putting roadblocks.
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RE: “Equality of treatment in commerce and the law is a necessary component for equity.”
I can’t make a lick of sense out of this statement.
I think Thomas Sowell makes the point that he experienced “equality” in school because his teacher held him to the same standards as everyone else.
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Redlining is a perfect example of righting a wrong that affects equity. I mean both the real and the effective as discussed a few weeks ago.
Sure great teachers are always valued. Those are positive qualities. But redlining is an effort to thwart success in minorities through cheating.
That is how to make sense of the search for equity other than having a good teacher. No need to lower the bar, just stop raising obstacles to suit the powerful at the expense of the rest of us.
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Redlining is not possible absent government collusion.
(Hint, what is the true purpose of licensing real estate agents?)
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So? What’s your point?
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Real estate agents don’t do the financial side of home sales, so calling them out as part of “redlining” is misguided.
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They are the ones that only show the houses in the ‘right’ neighborhoods.
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RE: “That is how to make sense of the search for equity other than having a good teacher.”
I don’t see how. If I substitute the word wealth or property for equity in your statement, it seems to me that you are making excuses to justify inappropriate asset redistributions.
If your real concern is with allowing people to buy whatever they want and can afford without restriction, then “equity” isn’t really the issue. Freedom is the issue.
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Redlining was a government sanctioned form of inequality. The solution is equality not equity
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Agreed. I see “equity” as a made up concept that doesn’t apply to any discernible reality.
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Sowell is a giant among midgets. We are so lucky to have him. Notice that every sentence he writes is glass and then little sophists start discussing it; and murk and confusion resume their reign.
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