Economics and Socialism

An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that Obama’s socialism worked and that no one would be poor and no one would be rich, a great equalizer.

The professor then said, “OK, we will have an experiment in this class on Obama’s plan”. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A…. (substituting grades for dollars – something closer to home and more readily understood by all).

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.

As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

To their great surprise, ALL FAILED 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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4 thoughts on “Economics and Socialism

  1. i love the premise and example and i love the story. and i do think obama is socialist leaning. and as much as i want to believe this story is true, i can’t. it’s an urban legend according to snopes. however, i think that LETVENT is a great forum and i’m glad you do what you do. speak up! speak out!! otherwise, you’re like a lamb to the slaughter…baaa, baaa, baaa……

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    • Thank you so much for your comment. I also don’t believe the story to be truth, but I did find it interesting enough that I wanted to post it. That’s actually what I’m doing with my site….posting things that are of interest to me. That others’ find it of interest as well is a boon. I hope that these posts generate some kind of emotion in others as they did with me when I first saw them, whether laughter, anger, sorrow, etc. I also hope that you at least enjoyed your visit.

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      • i totally enjoyed my visit and i’m checking you often!!! ( i hope you didn’t feel offended. i really WANTED to believe the story and it was good for entertainment’s sake.) again, i like your blog a lot and i think you’ve got a good mission here. trust me, i’m “bent” about a lot of stuff right now, but unfortunately, i’m not quite as humorous as you are, my dear!!! keep it up, and don’t back down.

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