Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Canadian Cannabis Stocks CRASH as Canopy Growth Hits a Dead End - 14th Dec 19
Retail Sector Isn’t Dead, and These 6% Dividend Paying Stocks Prove It - 14th Dec 19
Top 5 Ways to Add Value to Your Home - 14th Dec 19
Beware Gold Stocks Downside - 13th Dec 19
Fed Says No Interest Rate Hikes In 2020. What About Gold? - 13th Dec 19
The ABC’s of Fiat Money - 13th Dec 19
Why Jo Swinson and the Lib Dems LOST Seats General Election 2019 - Sheffiled Hallam Result - 13th Dec 19
UK General Election 2019 BBC Exit Poll Forecast Accuracy Analysis - 12th Dec 19
Technical Analysis Update: Tadawul All Share Index (TASI) - Saudi Arabia ETF (KSA) - 12th Dec 19
Silver Miners Pinpoint the Precious Metals’ Outlook - 12th Dec 19
How Google Has Become the Worlds Biggest Travel Company - 12th Dec 19
UK Election Seats Forecasts - Tories 326, Labour 241, SNP 40, Lib Dems 17 - 12th Dec 19
UK General Election 2019 Final Seats Per Party Forecast - 12th Dec 19
What UK CPI, RPI INFLATION Forecasts for General Election Result 2019 - 11th Dec 19
Gold ETF Holdings Surge… But Do They Actually Hold Gold? - 11th Dec 19
Gold, Silver Reversals, Lower Prices and Our Precious Profits - 11th Dec 19
Opinion Pollsters, YouGov MRP General Election 2019 Result Seats Forecast - 11th Dec 19
UK General Election Tory and Labour Marginal Seats Analysis, Implied Forecast 2019 - 11th Dec 19
UK General Election 2019 - Tory Seats Forecast Based on GDP Growth - 11th Dec 19
YouGov's MRP Poll Final Tory Seats Forecast Revised Down From 359 to 338, Possibly Lower? - 10th Dec 19
What UK Economy (Average Earnings) Predicts for General Election Results 2019 - 10th Dec 19
Labour vs Tory Manifesto's UK General Election Parliamentary Seats Forecast 2019 - 10th Dec 19
Lumber is about to rally and how to play it with this ETF - 10th Dec 19
Social Mood and Leaders Impact on General Election Forecast 2019 - 9th Dec 19
Long-term Potential for Gold Remains Strong! - 9th Dec 19
Stock and Financial Markets Review - 9th Dec 19
Labour / Tory Manifesto's Impact on UK General Election Seats Forecast 2019 - 9th Dec 19
Tory Seats Forecast 2019 General Election Based on UK House Prices Momentum Analysis - 9th Dec 19
Top Tory Marginal Seats at Risk of Loss to Labour and Lib Dems - Election 2019 - 9th Dec 19
UK House Prices Momentum Tory Seats Forecast General Election 2019 - 8th Dec 19
Why Labour is Set to Lose Sheffield Seats at General Election 2019 - 8th Dec 19
Gold and Silver Opportunity Here Is As Good As It Gets - 8th Dec 19
High Yield Bond and Transports Signal Gold Buy Signal - 8th Dec 19
Gold & Silver Stocks Belie CoT Caution - 8th Dec 19
Will Labour Government Spending Bankrupt Britain? UK Debt and Deficits - 7th Dec 19
Lib Dem Fake Tory Election Leaflets - Sheffield Hallam General Election 2019 - 7th Dec 19
You Should Be Buying Gold Stocks Now - 6th Dec 19
The End of Apple Has Begun - 6th Dec 19
How Much Crude Oil Do You Unknowingly Eat? - 6th Dec 19
Labour vs Tory Manifesto Voter Bribes Impact on UK General Election Forecast - 6th Dec 19
Gold Price Forecast – Has the Recovery Finished? - 6th Dec 19
Precious Metals Ratio Charts - 6th Dec 19
Climate Emergency vs Labour Tree Felling Councils Reality - Sheffield General Election 2019 - 6th Dec 19
What Fake UK Unemployment Statistics Predict for General Election Result 2019 - 6th Dec 19

Market Oracle FREE Newsletter

UK General Election Forecast 2019

Advice to the Poor- Fix Your Attitude!

Politics / Social Issues Mar 08, 2013 - 09:36 AM GMT

By: LewRockwell

Politics

Thomas Sowell writes: Most people are not even surprised any more when they hear about someone who came here from Korea or Vietnam with very little money, and very little knowledge of English, who nevertheless persevered and rose in American society. Nor are we surprised when their children excel in school and go on to professional careers.


Yet, in utter disregard of such plain facts, so-called "social scientists" do studies which conclude that America is no longer a land of opportunity, and that upward mobility is a "myth." Even when these studies have lots of numbers in tables and equations that mimic the appearance of science, too often their conclusions depend on wholly arbitrary assumptions.

Even people regarded as serious academic scholars often measure social mobility by how many people from families in the lower part of the income distribution end up in higher income brackets. But social mobility – the opportunity to move up – cannot be measured solely by how much movement takes place.

Opportunity is just one factor in economic advancement. How well a given individual or group takes advantage of existing opportunities is another. Only by implicitly (and arbitrarily) assuming that a failure to rise must be due to society's barriers can we say that American society no longer has opportunity for upward social mobility.

The very same attitudes and behavior that landed a father in a lower income bracket can land the son in that same bracket. But someone with a different set of attitudes and behavior may rise dramatically in the same society. Sometimes even a member of the same family may rise while a sibling stagnates or falls by the wayside.

Ironically, many of the very people who are promoting the idea that the "unfairness" of American society is the reason why some individuals and groups are not advancing are themselves a big part of the reason for the stagnation that occurs.

The welfare state promoted by those who insist that it is society that is keeping some people down makes it unnecessary for many low-income people to exert themselves – and therefore makes it unnecessary for them to develop their own potential to the fullest.

The multiculturalist dogma that says one culture is just as good as another paints people into the cultural corner where they happened to have been born, even if other cultures around them have features that offer better prospects of rising.

Just speaking standard English in an English-speaking country can improve the odds of rising. But multiculturalists' celebration of foreign languages or ethnic dialects, and of counterproductive cultural patterns exemplified by such things as gangsta rap, can promote the very social stagnation that they blame on "society."

Meanwhile, Asian immigrants or refugees who arrive here are not handicapped or distracted by a counterproductive social vision full of envy, resentment and paranoia, and so can rise in the very same society where opportunity is said to be absent.

Those "social scientists," journalists and others who are committed to the theory that social barriers keep people down often cite statistics showing that the top income brackets receive a disproportionate and growing share of the country's income.

But the very opposite conclusion arises in studies that follow actual flesh-and-blood individuals over time, most of whom move up across the various income brackets with the passing years. Most working Americans who were initially in the bottom 20 percent of income-earners, rise out of that bottom 20 percent. More of them end up in the top 20 percent than remain in the bottom 20 percent.

People who were initially in the bottom 20 percent in income have had the highest rate of increase in their incomes, while those who were initially in the top 20 percent have had the lowest. This is the direct opposite of the pattern found when following income brackets over time, rather than following individual people.

Most of the media publicize what is happening to the statistical brackets – especially that "top one percent" – rather than what is happening to individual people.

We should be concerned with the economic fate of flesh-and-blood human beings, not waxing indignant over the fate of abstract statistical brackets. Unless, of course, we are hustling for an expansion of the welfare state.

Thomas Sowell is a senior fellow at the Hoover Institution at Stanford University. His Web site is www.tsowell.com. To find out more about Thomas Sowell and read features by other Creators Syndicate columnists and cartoonists, visit the Creators Syndicate web page.

http://www.lewrockwell.com

    © 2013 Copyright Thomas Sowell - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules