An economics professor at Texas Tech said he had never failed a single student before but had, once, failed an entire class. The class had insisted that redistribution of wealth would work to achieve social justice, where all worked but no one would be poor and no one would be rich.Any Questions?
The professor then said ok, we will have an experiment in this class. All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A. All would work for the benefit of the class and for one another.
After the first test the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. But, as the second test rolled around, the students who studied little studied even less and the ones who studied hard decided they wanted a free ride too; so they also studied less. The second Test average was a D! No one was happy. When the 3rd test rolled around the average was an F.
The scores never increased as bickering, blame, name calling all resulted in hard feelings and no one would study for anyone else. All failed to their great surprise and the professor told them that social redistribution would ultimately fail in similar fashion.
Success occurs when reward tracks increased hard work and delayed gratification. When government takes away the reward, no one tries as hard to succeed or willingly make sacrifices.
Thursday, March 26, 2009
Socialism Made Simple
A good friend of mine from Texas sent me this.