Thomas Sowell: Random thoughts

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Random thoughts on the passing scene:

Government bailouts are like potato chips: You can’t stop with just one.

Anyone who is honest with himself and with others knows that there is not a snowball’s chance in hell to have an honest dialogue about race.

Thomas Sowell: Bankrupt “exploiters”

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In one of those front-page editorials disguised as “news” stories, the New York Times blames “the lucrative lending practices” of banks and other financial institutions for helping create the current financial crisis of millions of borrowers and of the financial system in general.

Thomas Sowell: Are facts obsolete?

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In an election campaign in which not only young liberals, but also some people who are neither young nor liberals, seem absolutely mesmerized by the skilled rhetoric of Barack Obama, facts have receded even further into the background than usual.

Thomas Sowell: Conservatives for Obama?

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A number of friends of mine have commented on an odd phenomenon that they have observed — conservative Republicans they know who are saying that they are going to vote for Barack Obama.

Thomas Sowell: High-stakes courts

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Recent landmark court decisions are reminders that elections are not just about putting candidates in office for a few years.

Thomas Sowell: The imitators

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If anyone suggested that Tiger Woods should try to be more like other golfers, people would question the sanity of whoever made that suggestion.

Why should Tiger Woods try to be more like Phil Mickelson? If Tiger turned around and tried to golf left-handed, like Mickelson, he probably wouldn’t be as good as Mickelson, much less as good as he is golfing the way he does right-handed.

Yet there are those who think that the United States should follow policies more like those in Europe, often with no stronger reason than the fact that Europeans follow such policies. For some Americans, it is considered chic to be like Europeans.

If Europeans have higher minimum wage laws and more welfare state benefits, then we should have higher minimum wage laws and more welfare state benefits, according to such people. If Europeans restrict pharmaceutical companies’ patents and profits, then we should do the same.

Some justices of the U.S. Supreme Court even seem to think that they should incorporate ideas from European laws in interpreting American laws.

Before we start imitating someone, we should first find out whether the results that they get are better than the results that we get. Across a very wide spectrum, the United States has been doing better than Europe for a very long time.

By comparison with most of the rest of the world, Europe is doing fine. But they are like Phil Mickelson, not Tiger Woods.

Minimum wage laws have the same effects in Europe as they have had in other places around the world. They price many low-skilled and inexperienced workers out of a job.

Because minimum wage laws are more generous in Europe than in the United States, they lead to chronically higher rates of unemployment in general and longer periods of unemployment than in the United States — but especially among younger, less experienced and less skilled workers.

Unemployment rates of 20 percent or more for young workers are common in a number of European countries. Among workers who are both younger and minority workers, such as young Muslims in France, unemployment rates are estimated at about 40 percent.

The American minimum wage laws do enough damage without our imitating European minimum wage laws. The last year in which the black unemployment rate was lower than the white unemployment rate in the United States was 1930.

The next year, the first federal minimum wage law, the Davis-Bacon Act, was passed. One of its sponsors explicitly stated that the purpose was to keep blacks from taking jobs from whites.

No one says things like that any more — which is a shame, because the effect of a minimum wage law does not depend on what anybody says. Blacks in general, and younger blacks in particular, are the biggest losers from such laws, just as younger and minority workers are in Europe.

Those Americans who are pushing us toward the kinds of policies that Europeans impose on pharmaceutical companies show not the slightest interest in what the consequences of such laws have been.

One consequence is that even European pharmaceutical companies do much of their research and development of new medications in the United States, in order to take advantage of American patent protections and freedom from price controls.

These are the very policies that the European imitators want us to change.

It is not a coincidence that such a high proportion of the major pharmaceutical drugs are developed in the United States. If we kill the goose that lays the golden egg, as the Europeans have done, both we and the Europeans — as well as the rest of the world — will be worse off, because there are few other places for such medications to be developed.

There are a lot of diseases still waiting for a cure, or even for relief for those suffering from those diseases. People stricken with these diseases will pay the price for blind imitation of Europe.

The United States leads the world in too many areas for us to start imitating those who are trailing behind.

Thomas Sowell: Is prestige worth it?

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The obsession of many high school students and their parents about getting into a prestige college or university is part of the social scene of our time. So is the experience of parents going deep into hock to finance sending a son or daughter off to Ivy U. or the flagship campus of the state university system.

Thomas Sowell: Cocky ignorance

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Now that Senator Barack Obama has become the Democrats’ nominee for President of the United States, to the cheers of the media at home and abroad, he has written a letter to the Secretary of Defense, in a tone as if he is already President, addressing one of his subordinates.

Thomas Sowell: Choosing Obama or McCain: It’s simple

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Now that the two parties have finally selected their presidential candidates, it is time for a sober — if not grim — assessment of where we are.

Thomas Sowell: Irrelevant apologies

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It is amazing how seriously the media are taking Senator Barack Obama’s latest statement about the latest racist rant from the pulpit of the church he has attended for 20 years. But neither that statement nor the apology for his rant by Father Michael Pfleger really matters, one way or the other. Nor does Senator Obama’s belated resignation from that church.

Thomas Sowell: Summer reading

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Some parents who are concerned about their children receiving a steady diet of liberal-left indoctrination in schools and colleges regard the summer vacation as a time to show these young people a different way of looking at things, with readings presenting viewpoints that are unlikely to be heard in classrooms that have become indoctrination centers.

Thomas Sowell: Too “complex”?

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Some people think that the reason the public misunderstands so many issues is that these issues are too “complex” for most voters. But is that really so?

Thomas Sowell: The difference between Obama and his pastor

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Sometimes unrelated events nevertheless tell a coherent story.

One newspaper story that caught my eye recently was about two high-powered schools in South Korea where Korean girls study 15 hours a day, preparing themselves for tests to get into elite colleges in the United States. Harvard, Yale and Princeton already have 34 students from those schools.

Thomas Sowell: An old newness

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Many years ago, a great hitter named Paul Waner was nearing the end of his long career. He entered a ballgame with 2,999 hits — one hit away from the landmark total of 3,000, which so many hitters want to reach, but which relatively few actually do reach.

Thomas Sowell: The economics of college

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A front-page headline in the New York Times captures much of the economic confusion of our time: “Fewer Options Open to Pay for Costs of College.”

Thomas Sowell: A living lie

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An email from a reader said that, while Hillary Clinton tells lies, Barack Obama is himself a lie. That is becoming painfully apparent with each new revelation of how drastically his carefully crafted image this election year contrasts with what he has actually been saying and doing for many years.

Thomas Sowell: Irony in Wall Street

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There was a real irony in the recent intervention by the Federal Reserve System to provide the money that enabled the firm of JPMorgan Chase to buy Bear Stearns before it went bankrupt.

Thomas Sowell: The audacity of rhetoric

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It is painful to watch defenders of Barack Obama tying themselves into knots trying to evade the obvious.

Some are saying that Senator Obama cannot be held responsible for what his pastor, Jeremiah Wright, said. In their version of events, Barack Obama just happened to be in the wrong place at the wrong time — and a bunch of mean-spirited people are trying to make something out of it.

Thomas Sowell: Obama’s speech

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Did Senator Barack Obama’s speech in Philadelphia convince people that he is still a viable candidate to be President of the United States, despite the adverse reactions to statements by his pastor, Jeremiah Wright?

Thomas Sowell: “Non-judgmental” nonsense

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What was he thinking of? That was the first question that came to mind when the story of New York governor Eliot Spitzer’s involvement with a prostitution ring was reported in the media.

Thomas Sowell: Liberals bemoan rising prison numbers even as crime goes down

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For more than two centuries, the political left has been preoccupied with the fate of criminals, often while ignoring or downplaying the fate of the victims of those criminals.

Thomas Sowell: William F. Buckley (1925-2008)

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Writing in 1954, Lionel Trilling said that most conservatives do not “express themselves in ideas but only in action or in irritable mental gestures which seek to resemble ideas.”

Thomas Sowell: Bad Times

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The front page of the New York Times has increasingly become the home of editorials disguised as “news” stories. Too often it has become the home of hoaxes.

Thomas Sowell: "Supporting the Troops"

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The Berkeley city council has made national news by telling Marine Corps recruiters that they are unwelcome in that bastion of the academic left.

Thomas Sowell: Who is “fascist”?

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Those who put a high value on words may recoil at the title of Jonah Goldberg’s new book, “Liberal Fascism.” As a result, they may refuse to read it, which will be their loss — and a major loss.

Thomas Sowell: The media and politics

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Even before Mitt Romney bowed out — with class, by the way — supporters of John McCain, and Republican party pooh-bahs in general, were chastising those conservatives in the media who had criticized Senator McCain.

Thomas Sowell: A “stimulus package”?

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Both political parties seem determined that the federal government should create a “stimulus package” of things designed to cushion a downturn in the economy.

Thomas Sowell: Dangerous demagoguery

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Most of the horrors of the 20th century — of which there were many — would not have been possible without demagoguery or misleading propaganda.

Thomas Sowell: Green “disparate impact”

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It was front-page news on the Jan. 14 issue of the San Francisco Chronicle that blacks by the tens of thousands have left the San Francisco Bay area since the 1990 census.

Thomas Sowell: Myths of ‘68

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This 40th anniversary of the turbulent year 1968 is already starting to spawn nostalgic accounts of that year. We can look for more during this year in articles, books, and TV specials, featuring aging 1960s radicals seeking to relive their youth.

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