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A lesson in socialist economics
I know we have done a version of ths before using a group and beer, but...........
A lesson in socialist economics
An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Corbyn's vision of socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, “OK, we will have an experiment in this class on Corbyn's ideological plan”. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A…. (substituting grades for £ 's also works, something closer to home and more readily understood by all).
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.
The second test average was a D! No one was happy.
When the 3rd test rolled around, the average was an F.
As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.
To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed.
It could not be any simpler than that.
There are five morals to this story:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.
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20th Jun 2017 11:23 am
Chocky
Member Since: 15 Jun 2017
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Brilliant. Perhaps I can use this to explain it to my daughter.
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20th Jun 2017 12:47 pm
welldriven
Member Since: 15 Feb 2017
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Fantastically simplified - I must admit that my generation seems to be the one causing all the problems! If only a few of them had read this... 2007 Black Discovery 3 HSE TDV6 - Fully loaded. Extended roof rails, EGR blanks, side steps, Grabber ATs.
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20th Jun 2017 2:55 pm
DG Site Moderator
Member Since: 12 Dec 2005
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Thats communism not socialism
20th Jun 2017 3:57 pm
LT
Member Since: 31 Dec 2005
Location: South West
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"It's called socialism, it's called social justice"
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20th Jun 2017 4:06 pm
DG Site Moderator
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The most damning and important critique of socialism was given by Mises in 1922 (along lines later added to by Hayek's Use of Knowledge in Society) where he points out the biggest flaw - not the lack of motives, imperfect human nature, the tyranny, but the sheer inability to make economic calculations without the free exchange of private property in the means of production; the simple inability to work out what the heck to do with what on such a scale is just impossible without the exchange and price system.
Many people are inclined to think that socialism works in theory but not in practice, but it isn't so - it works neither in theory nor in practice; it is nothing more than unmitigated stupidity that has claimed millions of lives. Oh, but don't forget guys: "Real socialism has never been tried"
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Last edited by Lost for Words on 20th Jun 2017 5:47 pm. Edited 1 time in total
20th Jun 2017 5:04 pm
DG Site Moderator
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Quote:
The most damning and important critique of socialism was given my Mises in 1922
Great typo!Current: Discovery 3 06MY (55 reg) HSE Auto Zambezi Silver Allisport Fast Road Intercooler, V8 Brakes, Silicone IC Hoses, EGRs Blanked, Remapped, De-Cat pipe, FBHIC
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