ARRA News Service
ARRA News Service facebook page  
News for social, fiscal & national security conservatives who believe in God, family & the USA. Upholding the rights granted by God & guaranteed by the U.S. Constitution, traditional family values, "republican" principles / ideals, transparent & limited "smaller" government, free markets, lower taxes, due process of law, liberty & individual freedom. All content approval rests with the ARRA News Service Editor. Opinions are those of the authors. While varied positions are reported, beliefs & principles remain fixed. No revenue is generated for or by this site - no paid ads accepted - no payments for articles. Fair Use doctrine is posted & used.
Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: (Pub. Since July, 2006)
    Home Page

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Sunday, February 21, 2016

Socialism And The Delusion Of Rich People As Your Enemy

The professor made a camera out of bamboo
Image Credit via Cain TV website
by Herman Cain: You might have seen Dan Calabrese's piece on Friday about the food crisis in Venezuela, or earlier in the week about the fact that young Bernie Sanders supporters demonstrate in polls that they have no idea what socialism actually is.

We’ve talked a lot about this both on The Herman Cain Show and here on the web site, and obviously a large part of the problem is that young voters enthusiastic for socialism don’t remember real-life consequences of socialism like, say, the poverty and hopelessness that endured behind the Iron Curtain for 44 years.

Or they’re convinced for some reason that this time it really would be different. Given the horrendous history of socialism I have no idea why anyone would believe that, but it’s not uncommon for a young generation to think they can be the first ones to do successfully what all their predecessors failed at.

When we get to do socialism, we’ll do it right!

But there’s a more fundamental misunderstanding about economics where many of these younger voters are concerned, and it explains a lot about why they’re attracted to Bernie Sanders and his socialist ideas. That is the notion, very popular on the left, that the entire economy is “rigged” in favor of the super-rich, such that it leaves everyone else on the outside looking in, with no access to opportunity.

That is simply not how free-market capitalism works, although there are time in which people rig certain situations – but only if they can harness the power of government to do it. The case of Martin Shkreli is a perfect example. Everyone heard about how Shkreli and his company cornered the market on a crucial drug, and jacked its price up to $750 a dose. Many on the left saw Shkreli as the poster-boy for capitalism run amok. But here’s what they didn’t know: Shkreli and his company, Turing Pharmaceuticals, were only able to corner the market because they knew all competitors would have to go through a protracted FDA approval process – likely as long as four years – before they could introduce market competition.

In other words, Shkreli was only able to do what he did because of the regulatory state. And any time something is “rigged” in economics, it’s going to require some force of government. Dodd-Frank, for example, is advertised as protecting consumers from evil, reckless banks. In fact, it protects big banks by making it next to impossible for smaller community banks to compete with them.

Sanders supporters have no idea how much of what they think is runaway capitalism is actually caused by government policy championed by Democrats.

And that takes us to an even more fundamental misunderstanding – the notion embraced by left-leaning young people that rich people are their enemies. They’re not. No one gets rich by causing another person to be poor. You get rich by producing goods and services people want at prices they’re willing to pay. You get rich when you offer people a proposition they find agreeable.

And if you’re a young person who wants to ascend the economic ladder, I’ll tell you exactly what you should do: Identify a rich person who might get even richer as a result of something you could do for him or her, and then propose to do it. And if that person says no, go to another one. And then another. And then another.

You become rich by working well with other rich people, and helping them to offer quality goods and services to the public at reasonable prices. Now, of course, this will require a lot of you. You’ll need to work very hard, show up on time consistently, perform at a very high level and probably get more out of yourself than you ever thought you were capable of.

But I’m telling you right now, this is how those who get rich do it. And those who have already done it represent opportunity for you.

Or you could get behind Bernie Sanders, who wants to tear rich people down and take away what they’ve earned, then apportion to you – well, whatever he decides to give you, I guess. That doesn’t sound like a pathway to prosperity if you ask me, but then again, if you have no concept of what prosperity means or how to achieve it, maybe you too will be taken in by such notions and the people who espouse them. [See Cain’s new book, The Right Problems]
Herman Cain is a conservative radio host of CainTV, a 2012 GOP presidential primary candidate with over 40 years of experience in the private sector as an analyst for Coca-Cola, an executive at Pillsbury, a regional Vice President for Burger King, and CEO of Godfather's Pizza. Cain served as Chairman of the Federal Reserve Bank of Kansas City and a supervisory mathematician for the Dept. of the Navy.

Tags: Herman Cain, conservative, radio host, CainTV, socialism, delusion, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
Posted by Bill Smith at 1:42 PM - Post Link


Anonymous John H. Eves said...

Thanks Bill. Good read.


Post a Comment

<< Home

National Debt
Don't miss anything!
Subscribe to the
ARRA News Service
It's FREE & No Ads!

You will receive a verification email
& must validate you subscribed!

You Then Receive One Email Each AM
With Prior Days Articles / Toons / More

Also, Join us at:

Recent Posts:
Personal Tweets by the editor:
Dr. Bill - OzarkGuru - @arra
#Christian Conservative; Retired USAF & Grad Professor. Constitution NRA ProLife schoolchoice fairtax - Editor ARRA NEWS SERVICE. THANKS FOR FOLLOWING!

Action Links!
Arkansas State Senators
AR State Representatives
Arkansas Governor Office
Arkansas Attorney General
Bankrupting America
US House of Representatives
US Senators
Family Research Council
Sunshine Review

Facebook Accts - Dr. Bill Smith
ARRA News Service
Arkansans Against Big Government
Alley-White Am. Legion #52
Catholics & Protestants United Against Discrimination
End Taxpayer Funding of NPR
Overturn Roe V. Wade
Prolife Soldiers
Project Wildfire 4 Life
Republican Liberty Caucus of Arkansas
The Gold Standard
US Atty Gen Loretta Lynch, aka Eric Holder, Must Go
Veterans for Sarah Palin
Why Vote for Hillary (Satire)
FB Groups:
Arkansas For Sarah Palin
Arkansas Conservative Caucus
Arkansas County Tea Party
Arkansans' Discussion Group on National Issues
Blogs for Borders
Conservative Solutions
Conservative Voices
Defend Marriage -- Arkansas
FairTax Nation
Arkansas for FairTax
Friends of the TEA Party in Arkansas
Freedom Roundtable
Let's Mine AR Lignite NOW!
Pro-Life Rocks - Arkansas
Republican Network
Republican Liberty Caucus of AR
Reject the U.N.


Request Via
Article Comment

Links to ARRA News
A Patriotic Nurse
Agora Associates
a12iggymom's Blog
America, You Asked For It!
Americans for a Free Republic
America's Best Choice
America's Whatchtower
An Ol’ Broad’s Ramblings
ARRA Twitter
As A Matter of Fact
As The Crackerhead Crumbles
Baaad Media!
Black & Right
Blogs For Borders
Blogs for Palin
Blow the Trumpet Ministry
Boot Berryism
Cap'n Bob & the Damsel
Chicago Ray Report
Chuck Baldwin - links
Citizen Pamphleteer
Common Cents
Conservative Hideout
Conservative Observer AZ
Conservative Voices
Conway Real Deal
Defeat Obama's Agenda
Diana's Corner
eGOP News
Florida Pundit
Franklin Online Outreach
Freedom For US Now
Free Zone Media Center
For God and Liberty
Garland County Republicans
Greater Fitchburg For Life
Guns and Religion
Lasting Liberty Blog
Liberal Isn't Amy
Liberty's Lifeline
Maggie's Notebook
Marathon Pundit
Monkey in the Middle
NASA Satellites
No Runny Eggs
Okie Campaigns
Our Voices Arkansas
Patriot's Corner
Publius Forum
Randy's Roundtable
Real Debate Wisconsin
Religion and Morality
Right on Issues that Matter
Right Reason
Rocking on the Right Side
Saber Point
Saline Watchdog
Secure Arkansas
Sentry Journal
Sultan Knish
Stop Obama Satire & Cartoons
The Arkansas Patriot
The Audacity of Logic
The Blue Eye View
The Bobo Files
The Born Again Americans
TEA Party Cartoons
The Conservative Citizen
The Foxhole | Unapologetic Patriot
The Liberty Republican
The Lid
The Looking Spoon
The Maritime Sentry
The O Word
The Path to Tyranny Blog
The Real Polichick
The War on Guns
Truth About Obamacare
Twitter @ARRA
Warning Signs
Women's Prayer & Action

Editor's Managed Twitter Accounts
Twitter Dr. Bill Smith @arra
Twitter Arkansas @GOPNetwork
Twitter @BootBerryism
Twitter @SovereignAllies
Twitter @FairTaxNation

Editor's Recommended Orgs
Accuracy in Media (AIM)
American Committment
American Culture & Faith Institute
American Enterprise Institute
American Family Business Institute
Americans for Limited Government
Americans for Prosperity
Americans for Tax Reform
American Security Council Fdn
AR Faith & Ethics Council
Arkansas Policy Foundation
Ayn Rand Institute
Bill of Rights Institute
Campaign for Working Families
Center for Individual Freedom
Center for Immigration Studies
Center for Just Society
Center for Freedom & Prosperity
Citizens Against Gov't Waste
Citizens in Charge Foundstion
Coalition for the Future American Worker
Competitive Enterprise Institute
Concerned Veterans for America
Concerned Women for America
Declaration of Am. Renewal
Eagle Forum
Family Research Council
Family Security Matters
Franklin Center for Gov't & Public Integrity
Freedom Works
Gingrich Productions
Global Incident Map
Great Americans
Gold Standard 2012 Project
Gun Owners of America (GOA)
Heritage Action for America
David Horowitz Freedom Center
Institute For Justice
Institute for Truth in Accounting
Intercollegiate Studies Institute
Judicial Watch
Less Government
Media Reseach Center
National Center for Policy Analysis
National Right To Work Foundation
National Rifle Association (NRA)
National Rifle Association (NRA-ILA)
News Busters
O'Bluejacket's Patriotic Flicks
Open Secrets
Presidential Prayer Team
Religious Freedom Coalition
Renew America
Ron Paul Institute
State Policy Network
Tax Foundation
Tax Policy Center
The Club for Growth
The Federalist
The Gold Standard Now
The Heritage Foundation
The Leadership Institute
Union Facts

Blogs For Borders

Reject the United Nations

Adopt Our Troops in Prayer

Thousands of Deadly Islamic Terror Attacks Since 9/11

FairTax Nation on FaceBook
Friends of Israel - Stand with Israel
Blog Feeds
Syndicated - Get the ARRA News Service feed Syndicated!
ARRA Blog Feed

Add to Google Reader or Homepage

Add to The Free Dictionary

Powered by Blogger

  • How To Exchange Links!
  • Comments by contributing authors or other sources do not necessarily reflect the position the editor, other contributing authors, sources, readers, or commenters. No contributors, or editors are paid for articles, images, cartoons, etc. While having reported on and promoting the beliefs associated with the ARRA, this blog/site is not controlled by nor funded by the ARRA. This site/blog does not advertise for money or services nor does it solicit funding for its support.
  • Fair Use: This site/blog may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. Such material is made available to advance understanding of political, human rights, economic, democracy, and social justice issues, etc. This constitutes a 'fair use' of such copyrighted material as provided for in section Title 17 U.S.C. Section 107 of the US Copyright Law. Per said section, the material on this site/blog is distributed without profit to readers to view for the expressed purpose of viewing the included information for research, educational, or satirical purposes. Any person/entity seeking to use copyrighted material shared on this site/blog for purposes that go beyond "fair use," must obtain permission from the copyright owner.
  • © 2006 - 2017 ARRA News Service
Creative Commons License
Creative Commons Attribution Noncommercial Share Alike 3.0 Unported License.