Presidential Nonsense


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Last week, President Barack Obama, at a Capital Hilton fundraising event, told the crowd, “We can’t go back to this brand of you’re-on-your-own economics.” Throughout my professional career as an economist, I’ve never come across the theory of “you’re-on-your-own economics.” I’m guessing what the president means by — and finds offensive in — “you’re-on-your-own economics” is that it’s a system in which people are held responsible for their actions, that they take risks and must live with the results, that people can’t force others to pay for their mistakes, and that they can’t live at the expense of other people.

President Obama’s vision was shared by our Pilgrim Fathers of the Plymouth Colony in modern-day Massachusetts. They established a communist system. They all farmed together, and whatever they produced was put in a common storehouse. A certain amount of food was rationed to each person regardless of his contribution to the work. Many Pilgrims complained that they were too weak from hunger to do their share of the work. As deeply religious as the Pilgrims were, they took to stealing from one another. Gov. William Bradford, writing his history of the colony in “Of Plymouth Plantation,” said, “So as it well appeared that famine must still ensue, the next year also if not some way prevented.”

In 1623, after much debate, a new system was set up, in which every family was assigned a parcel of land, and whatever they produced belonged to the family. Gov. Bradford then observed, “The women now went willingly into the field, and took their little ones with them to set corn; which before would allege weakness and inability; whom to have compelled would have been thought great tyranny and oppression.” After Gov. Bradford’s establishment of what Obama calls “you’re-on-your-own economics,” harvests were so bountiful that Bradford is credited with establishing what we now call Thanksgiving.

There are several seemingly immutable, hard-wired characteristics about humans that socialists, liberals and progressives find difficult to deal with and would like to change.

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  • itfitzme

    Out of touch with reality. And intentionally so. Nobody is advocating eliminating individual property rights.

    • radicalconservative

      “Nobody is advocating eliminating individual property rights”.
      The fruits of my labor belong to ME. It is my property. Libtards steal those fruits (my money) to redistribute to others. So yes, lots of people do much more than advocate for eliminating property rights, they steal from me with reckless abandon. 40% of my income is stolen from me sir. You will say oh well, you still have 60% of your property. Thanks dude, but no thanks. Stealing is stealing.

    • fiddler

      Not YET! With progressives it's just a matter of time and media complicency. PC "evolves" under the banner of progressivism.

  • http://www.lysanderspoonerlawschool.org Kenneth Olsen

    Every move the Obama gang makes subverts individual property rights. But don't take my word for it. Ask GM's former bondholders.

  • davarino

    Excellent article. Walter has dumbed it down so anyone can get the concept, except "progressives". Even with proof that the capitalist system works best they still want the communist system because it feels good. Its all about them feeling good about themselves, like they are the saviors of the world, all the while destroying it.

  • Gamaliel

    Walter Williams it's not too late to run for office!

  • Mach1Duck

    Nice articel; but, you do not understand. Obama and the Left are trying to drive the U.S. economy into the ground with the objective that Big Government owns everybody…except of course the rich elite…But as we all know, no socialist system has succeeded and I can not for the life of me figure out why these Left Headed people still think they can make it work.

  • WSG

    Take the statements of late by a couple of Leftists Bob Beckel that" the Great Society programs were a failure ' but MORE gov't was needed to remedy those failures and another srticle about the failure of Head Start . Basically, we are supposed to judge the Progressives on their"good intentions" NOT the failures of their multi – trillion dollar utopian blunders !
    Reality – human nature, history and basic FREE MARKET economics are facts the Progressives have to ignore in order to sell the propaganda that empowers and enriches them and their allies. This is 2012 – not 1912, nor 1929, nor 1964 nor even 2008 ! Gov't s – fascists attempting to centrally command and control economics – micro(individual) or macro( national- large scale) has been and is a prescription for death, destruction and tyranny .

  • FriendofGaryCooper

    Yet, in a sense, we are "on our own" when dealing with the government. You pay your taxes, then you are forced to accept whatever the government does or fails to do, 99 percent of the time. Oftentimes, when we don't get anything; or are forced to accept some draconian decision made by an unaccountable bureaucrat; it is "on our own" and "us against them."

  • FriendofGaryCooper

    Israel was founded on the idea of the kibbutz; which is basically a socialist concept; everyone worked according to their abilities, and was given food and shelter, "according to their needs," as Dr. Williams outlines above. However, I believe today the more popular concept is the Moshav; where everyone owns their own parcel. There is a governing board of the Moshav, however, everyone has their own land. While there are some kibbutzim in Israel today, the Moshavs have, in the long run, been more productive.

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