Sunday, July 19, 2009

The economics of socialism

I just got this in an email - thought I'd forward it on. Food for thought.

Students in an economics class at a local college insisted that Obama's socialism worked and that no one would be poor and no one would be rich, a great equalizer.

Their professor then said, "OK, we will have an experiment in this class on Obama's plan". All grades would be averaged and everyone would receive the same grade - no one would fail but no one would receive an A unless everyone got an A.

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.

As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little. The second test average was a D. No one was happy.

When the 3rd test rolled around, the average was an F. Bickering, blame and name-calling had resulted in hard feelings and no one would study for the benefit of anyone else.

All the students failed, to their great surprise, and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great but when government takes all the reward away, no one will try or want to succeed.

Could not be any simpler than that.

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