“The Economy

The constrained vision sees market economies as responsive to systemic forces–the interaction of innumerable individual choices and performances–rather than to deliberate power shaping the ultimate outcome to suit particular individuals or organized decision-makers. A competitive market, as thus conceived, is a very efficient system for “the transmission of accurate information,” in the form of prices. These prices not only bring information as to changing scarcities, technological advances, and shifting consumer preferences, but also provide “an incentive to react to the information. …”

The unconstrained vision argues that this is not how the economy operates, that it is currently obeying the power of particular interests and should therefore be made in future to obey the power of the public interest. Deliberate price-setting “exists in most basic American industries,” according to this view. The answer is for “an angry public” to “appeal to its political government.” The “the market gods are increasingly brought within control  of humanely exercised power.”

~Thomas Sowell, A Conflict of Visions, page 155.

 

Thomas Sowell: Before and After Affirmative Action

http://www.youtube.com/watch?v=vtXLzhbTz5E

 

Thomas Sowell – Is “Income Stagnation” an Economic Myth?

http://www.youtube.com/watch?v=WrtoSx-NbLQ&feature=related

 

Thomas Sowell on Barack Obama

http://www.youtube.com/watch?v=gBd1qX2POvs&feature=related

 

Over twenty years ago the economist Thomas Sowell wrote Conflict of Visions, followed by The Vision of the Anointed eight years later. Both books are well worth reading especially if you are following the 2008 Presidential race.

Thomas Sowell–Seeing Clearly

By Charles Murray 

“One mark of a great book is a thesis so powerful that after a few years people take it for granted. Thomas Sowell’s A Conflict of Visions (1987) is such a book. Its thesis: The policy arguments between liberals and conservatives, socialists and libertarians, do not arise just from differences in priorities regarding freedom, equality, and security. At root, they draw from different conceptions of the nature of man. The Left holds an unconstrained vision: Given the right political and economic arrangements, human beings can be improved, even perfected. Success is defined by what people have the potential of becoming, not by people as they are. The Right holds a constrained vision: People come to society with innate characteristics that cannot be reshaped and must instead be accommodated. Success in political and economic policy must be defined in light of those innate characteristics.

Once you have this framework in your head, the history of the great political debates of the 20th century coheres in a new way. The expansion of the welfare state, how to deal with crime, how to conduct the Cold War, the feminist revolution, colorblind policies versus affirmative action, who should control the schools–whatever the topic, the positions held by Left. …”

http://www.aei.org/publications/pubID.23586,filter.all/pub_detail.asp

 

Senator Obama despite his recent attempts to run to the center for the coming general election is clearly an example of the Unconstained Vision of the American left.

Senator Obama’s economic program is to greatly increase Federal government spending as well as taxes and continue government intervention in the market by continuing subsidies for example for ethanol in the face of rising gasoline and food prices.

Also, he is for comprehensive immigration reform, a code word for amnesty and open borders.

This results is massive local, city, county and state tax increases to support government expenditures for illegal immigrants. This includes government expenditures for education, welfare, roads, social services, police and jails/prisons.

Senator Obama believes in man-made global warming and favors a cap and trade tax.

Obama calls for renewable energy & high efficiency standards

http://www.youtube.com/watch?v=ZzIkwW2HlKM

 

Obama: Higher Oil Prices Are Good? What???

http://www.youtube.com/watch?v=Gehaf7_TBAs&NR=1

 

Barack Obama on Offshore Oil Drilling

http://www.youtube.com/watch?v=v8fkbEuCQss

 

Obama; Taxes, Capital Gains

http://www.youtube.com/watch?v=WpSDBu35K-8

 

Obama Moves On His Capital Gains Tax Hike In One Month

http://www.youtube.com/watch?v=8LNqBS5OyqM

 

Obama Tax Plan

http://www.youtube.com/watch?v=K5zy5Y4Jl8A&feature=related

 

Barack Obama’s plan on GLOBAL WARMING

http://www.youtube.com/watch?v=GcpGRO-j_Ik

 

Barack Obama at Cooper Union

http://www.youtube.com/watch?v=cSuT5zN2SPI

 

Barack Obama Slams McCain’s Economic Plan

http://www.youtube.com/watch?v=QYL-OaGAKK4 

 

Senator McCain generally fits in the Constrained Vision, but he is more of a hybrid to the vast chagrin of movement conservatives and libertarians.

Senator McCain would decrease both government spending and taxes and promote drilling for oil off-shore and building nuclear power plants. 

Unfortunately, Senator McCain buys into the man-made global warming promoted by government junk science in the form of computer models. 

Therefore he supports a new cap and trade tax.

Also, Senator McCain is for comprehensive immigration reform, a code word for amnesty and open borders. This results is massive local, city, county and state taxes to support government expenditures for illegal immigrants or criminal aliens.

 

John McCain Speech: America’s Energy Security

http://www.youtube.com/watch?v=qkqwhrVUBmY

 

McCain: Americans Are “Better Off” Under Bush Economics

http://www.youtube.com/watch?v=cDJxDUgpLlc&feature=related 

 

John McCain: Press Avail 04/26/08

http://www.youtube.com/watch?v=OYq7eFFfQAc

 

McCain wants more oil exploration and clean fuel development

http://www.youtube.com/watch?v=5o61gK72MoM&feature=related

 

McCain talks about nuclear, cap and trade, solutions

http://www.youtube.com/watch?v=brKQoCY027U

 

McCain Economy – Decision 2008

http://www.youtube.com/watch?v=tyJGl_l_6E4 

 

McCain on the O’Reilly Show; Gas Prices and Immigration 2 of 3

http://www.youtube.com/watch?v=Gig_GUGZV9c 

 

Most conservatives and libertarians usually have a constrained vision of society and the economy.

Most liberals and socialists have an unconstrained vision of society and the economy.

The American people are free to choose which candidate for President has the vision and programs that will receive their vote.

“In the anointed we find a whole class of supposedly “thinking people” who do remarkly little thinking about substance and a great deal of verbal expression. In order that this relatively small group of people can believe themselves wiser and nobler than the common herd, we have adopted policies which impose heavy costs on millions of other human beings, not only in taxes but also in lost jobs, social disintegration, and a loss of personal safety. Seldom have so few cost so much to so many.

~Thomas Sowell, The Vision of The Anointed, Self-Congratulation as A Basis for Social Policy, page 260

 

Background Articles and Videos

 

McCain and Obama: Comparing Their Economic Platforms

“…After an extended primary season, the 2008 presidential campaign is finally under way and the candidates are presenting—at least in some areas—starkly different economic policy proposals. Sen. John McCain is a career-long free trader, consistently voting against trade barriers and subsidies. Sen. Barack Obama, although possessing a shorter voting record, puts greater restrictions on his support for free trade and favors a time-out on new trade agreements and extensive review—and possible renegotiation—of existing ones. On fiscal policy, Sen. McCain wants lower taxes while Sen. Obama proposes to shift the tax burden to wealthier Americans. According to the National Taxpayers Union, Sen. McCain has endorsed $68 billion of additional government spending per year and Sen. Obama has called for nearly $344 billion of bigger government. How would these policies strengthen the U.S. economy or damage it? If Obama is elected, would Congress simply rubber-stamp his proposals? If McCain wins, would Congress approve his agenda? Please join us as our panel discusses the McCain and Obama tax, spending, and trade plans. …”

http://www.cato.org/event.php?eventid=4962

 

The Power of Choice – Milton Friedman

http://www.youtube.com/watch?v=MBB7l-SfoK4&feature=related

 

Milton Friedman – Greed

http://www.youtube.com/watch?v=RWsx1X8PV_A&feature=related

 

Milton Friedman Interview: Spending Money

http://www.youtube.com/watch?v=crAt0YlxhLA&feature=related

 

Milton Friedman (December 26, 2005)

http://www.youtube.com/watch?v=jNrMQazZHDc

 

Milton Friedman

http://www.youtube.com/watch?v=JfdRpyfEmBE

 

McCain and Obama Campaign on Economic Agenda

Presidential Hopefuls Face-Off on Economic Proposals

“…The centerpiece of McCain’s economic plan is cutting taxes to stimulate the economy. The Republican proposes to lower corporate tax rates from 35 percent to 25 percent, and to retain the Bush tax cuts he twice voted against.

“When you raise taxes in a bad economy, you eliminate jobs. I’m not going to let that happen,” McCain said. …”

“…On the issue of energy, McCain advocates more offshore drilling for oil and the development of more nuclear energy. “We will build at least 45 new nuclear plants that will create over 700,000 good jobs to construct and operate them,” McCain said.

Obama opposes both oil exploration in the Arctic National Wildlife Refuge and offshore oil drilling, but he favors the continuing development of alternative energy sources.

The candidates disagree on which alternative energy sources should be pursued. …”

“…The differences between the candidates’ energy policies is clear-cut, according to Mathias: “McCain is nukes, Obama is more ethanol-focused.” 

http://abcnews.go.com/Politics/story?id=5326069&page=1

 

Countdown: McCain and Obama’s Economic Plans

http://www.youtube.com/watch?v=GhljhCPxlLY

 

Taxes, Spending and the Next President

http://www.youtube.com/watch?v=a_aXQjCY9_Y

 

Ben Stein explaining how Obama will screw the US Economy

http://www.youtube.com/watch?v=jPvk7Ixiotg&feature=related 

 

Response to Obama, 5: Tax Rates and Job Creation

http://www.youtube.com/watch?v=pUxOk-G3VS0&feature=related

 

Obama and McCain differ on drilling

http://www.youtube.com/watch?v=t1smrLDacA4

 

Charlie Rose – An Appreciation of Milton Friedman

http://www.youtube.com/watch?v=-pbHo_fQCFg

 

Charlie Rose: June 1, 1999 interview with Milton Friedman

http://www.youtube.com/watch?v=Pi9fq_7X6Js

 

Free To Choose

http://www.freetochoosemedia.org/freetochoose/

 

Charlie Rose September 15 1995: Interview with Thomas Sowell, 29 minutes into video

http://www.youtube.com/watch?v=QFWuR_JxANE

 

Uncommon Knowledge: Thomas Sowell

http://fora.tv/2008/02/21/Uncommon_Knowledge_Thomas_Sowell

 

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