I’ve posted other cartoons about Obama’s class-warfare fixation, but this one seems appropriate for today.
To close on a serious note, folks on the left genuinely seem to think the economy is a fixed pie and one person’s success necessarily means another person’s failure. We need to figure out ways of educating them about growth, as I try to do in this interview.
“folks on the left genuinely seem to think the economy is a fixed pie and one person’s success necessarily means another person’s failure.” They seem to think this not only on a macro-economic scale, but on the most micro of scales as well. They think that in every sale/purchase, either the seller wins or the purchaser wins. In reality of course, in the vast majority of cases, they both win.
[...] Daniel J Mitchell. LD_AddCustomAttr("AdOpt", "1"); LD_AddCustomAttr("Origin", "other"); [...]
“Take half, give 25% to the kids that sent you to me, give 5% to my kids who will evaluate petitions from needy and lazy kids, and then finally the remaining 20% I’ll convert into wheat chaff bars and give to the kids who are too lazy to go trick or treating for themselves…”
[...] is why these class-warfare cartoons (here, here, here, and here) are funny, in a tragic sort of [...]
SteveBrooklineMA
The problem is that many people misunderstand the different valuations in an economic transaction. Their mistake is thinking that the value both parties hold must be the same for a transaction to take place.
In fact, for any purchase or sale to take place, the valuations HAVE to be different, rather than the same. This can easily be grossly misunderstood because it’s counter-intuitive, so let’s look at an example:
Suppose you have a widget for sale at $10. That means you would prefer to have my $10 rather than keep your widget. If I want to buy the widget from you, that means I want the opposite, I would prefer to have your widget than my $10.
So our valuations are NOT equal! You’d rather have $10 than your widget, and I’d rather have your widget than $10. So we both get what we want, you sell me the widget, the exchange takes place.
Suppose you overprice the widget and try to sell it for $20 instead. Obviously, on your side, you would still prefer to have my money than your widget. But on my side, I look at the widget, and say “No way, that’s not worth $20 to me” and refuse to purchase it. Here our valuations are the same. You’d rather have $20 than your widget, and so would I.
So when our valuations agree – when we’d both rather have $20 than the widget – then no sale takes place. Only at $10, when our valuations are different, can an economic exchange take place…
[...] have several amusing posts about the left’s fixation on redistributionism, including this Halloween classic, this Elizabeth Warren takedown, this mockery of the Occupy Wall Street nitwits, and this [...]
[...] have several amusing posts about the left’s fixation on redistributionism, including this Halloween classic, this Elizabeth Warren takedown, this mockery of the Occupy Wall Street nitwits, and this [...]
[...] but not least, we also have the official cigarette of the Obama campaign, as well as cartoons here, here, here and here that mock the President’s class-warfare tax agenda. Rate this:Share [...]
[...] I shared a cartoon last Halloween that made fun of those who support class-warfare tax policy. [...]
[...] I shared a cartoon last Halloween that made fun of those who support class-warfare tax policy. [...]
[...] I shared a cartoon last Halloween that made fun of those who support class-warfare tax policy. [...]
[...] P.S. If you like holiday-themed cartoons about class warfare, you can see some Halloween versions here and here. [...]
[...] I shared a cartoon last Halloween that made fun of those who support class-warfare tax policy. [...]
[…] P.S. If you like holiday-themed cartoons about class warfare, you can see some Halloween versions here and here. […]