Dr. Sowell: The U.S. economy likely to decline in the long run. The private sector cannot prosper against the onslaught of government largess.

[Flashback February 2011: There was a glimmer of a recovery but now it seems that what we saw back in February was just inventory restocking. Time has demonstrated Dr. Sowell’s warning as he was not optimistic in this video when “economists” the elite media talked to were “surprised” by the monthly bad economic news. They were surprised every month for two and a half years.]

The video is of Dr. Thomas Sowell who is likely the greatest and most published economist alive. He is a free market guy so that is why many college students may not have heard of him. The use of Dr. Sowell’s materials is virtually banned at some universities such as Indiana University at South Bend. The left, as well as the IU administration, is very hostile to Dr. Sowell because he is a black economist who believes in and understands the free market.

Via The Daily Caller:

Dr. Sowell appeared on Wednesday night’s “The Kudlow Report,” on CNBC to promote his book, “Basic Economics: A Common Sense Guide to Economics.” Host Larry Kudlow asked Sowell about the current outlook and his long-term predictions for the economic system as a whole in the United States. The senior fellow at Stanford University’s Hoover Institution replied that politics plays into the answer.

I have never seen Dr. Sowell so concerned. As some economists have said, this recession is different. Combine that with the fact that government has so effectively chased wealth out of the country and undermined economic confidence that unless we change government culture permanently and do it soon the United States may be done as an economic super power.

About Chuck Norton

I write about politics, education, economics, morality and philosophy.
This entry was posted in Econ, Flashback!, Obama, Thomas Sowell. Bookmark the permalink.

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