Try these on the “intellectuals” you run across to find out if they know what they are talking about.
- Price controls prevent higher costs to consumers.
- Reducing unemployment necessarily requires creation of more jobs.
- Larger incomes for some people require smaller incomes for others.
- Free, or low, tuition reduces costs to students.
- All unemployment must be wasteful.
- Stockbrokers and investment advisors predict better than the alternatives of throwing a dart at a list of stocks or the use of horoscopes.
- Taxes are borne entirely by consumers of taxed items.
- Employers pay for “employer-provided insurance”.
- Minimum wage legislation helps the unskilled and minorities.
- Housing developers drive up the price of land.
- Foreign imports reduce the total of domestic jobs.
- “Equal pay for equal work” laws aid women, minorities, and the young.
- Economic efficiency is a matter only of technology and engineering.
- Agricultural and other surpluses stem from productivity outrunning demand.
- Capitalism requires a social “harmony of interests” – but also capitalism is the source of competitiveness and conflict.
- Property rights commonly conflict with human rights.
- Business people are self-centered and rapacious, while government people are self-sacrificing and altruistic.
- Labor unions protect the natural brotherhood and collective well-being of workers against their natural enemies, employers.
- Charging a higher price always increases the seller’s profits.
- The American economy is increasingly dominated by monopolists who arbitrarily set prices as high and wages as low as they please.
- Rent control improves and expands housing.
- There is unemployment because workers outnumber jobs.
- Fluctuating prices create wasteful uncertainty and rising prices constitute inflation, so government should make it illegal to raise prices.
- We cannot compete in a world in which most foreign wages are lower than wages paid to domestic workers.
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