It's difficult, especially I've found for the older crowd to which Sowell belongs (I think here of my 80 year old MIL too), to evaluate systems as they actually are as opposed to the way they once were or even maybe should be.
I believe that is his background...he is an economist. He was originally a communist in this ideology until he began to look at it through the lens of reality and then he became a capitalist.
Interesting! I should have researched. Well, I hope that it's one of those situations where he's wrong or sort of wrong, like Noam Chomsky on vaccines.... where he totally lost the entire plot. But it sounds to me like Sowell really has his head screwed on right, so now I am really watching closely to see what this tariffs situation shakes out like.
I have a friend who is very worried about his 401K as he's newly retired, he says it might be decimated. But I don't really understand the reason.
The worst thing to do is panic and sell when the stock prices are low. In time, the market will come back and hopefully it will come back better than before. I'm not a financial expert and anything I say isn't worth the price of a cup of coffee.
It seems establishment economists are stuck in the status quo. They, like the medical establishment, don’t like disruption nor disrupters like Trump. Their minds are closed & they have a fear of the unknown, new way of governing. This “trade war” is the only way to begin righting the ship.
He was correct on tariffs, IMO... just because we bought a ton of stuff from overseas, after our corporations sold out America and shipped their mfg elsewhere... causing a big trade imbalance... it does not mean that other countries were or are "ripping us off".
I love Sowell, too. But Sowell may not be seeing the "big picture."
I don't know how savvy an economics critic he is. He's brilliant with social commentary.
It's difficult, especially I've found for the older crowd to which Sowell belongs (I think here of my 80 year old MIL too), to evaluate systems as they actually are as opposed to the way they once were or even maybe should be.
I believe that is his background...he is an economist. He was originally a communist in this ideology until he began to look at it through the lens of reality and then he became a capitalist.
Interesting! I should have researched. Well, I hope that it's one of those situations where he's wrong or sort of wrong, like Noam Chomsky on vaccines.... where he totally lost the entire plot. But it sounds to me like Sowell really has his head screwed on right, so now I am really watching closely to see what this tariffs situation shakes out like.
I have a friend who is very worried about his 401K as he's newly retired, he says it might be decimated. But I don't really understand the reason.
The worst thing to do is panic and sell when the stock prices are low. In time, the market will come back and hopefully it will come back better than before. I'm not a financial expert and anything I say isn't worth the price of a cup of coffee.
That's nearly word for word what I told him, but he is in panic mode so it didn't register.
One should never, ever make financial decision when one is in a panic. Maybe he should seek a good financial counselor..
Agree and he has one. I don't know if a panicked person can hear reason though.
😕
It seems establishment economists are stuck in the status quo. They, like the medical establishment, don’t like disruption nor disrupters like Trump. Their minds are closed & they have a fear of the unknown, new way of governing. This “trade war” is the only way to begin righting the ship.
True that we don't know how a new "experiment" of sorts will turn out 'til it's done!
He was correct on tariffs, IMO... just because we bought a ton of stuff from overseas, after our corporations sold out America and shipped their mfg elsewhere... causing a big trade imbalance... it does not mean that other countries were or are "ripping us off".
I checked on-line and I see no date of death and the references I see about him say "is" not "was."
Yes, I was mistaken... I could have sworn he had passed... I have not seen him on TV at all for long time... due, I/m sure, to his 90+ age...
Good man.
You may be thinking of Armstrong Williams.