Thomas Sowell on the Myths of Economic Inequality

  Үзсэн тоо 3,576,442

Hoover Institution

2 жилийн өмнө

Recorded on November 15, 2018
Thomas Sowell discusses economic inequality, racial inequality, and the myths that have continued to falsely describe the system of poverty among different racial and economic classes. He explains the economic theories behind these pervasive myths and proposes fact-based solutions for seemingly intractable situations.
Sowell discusses his early life as a high school dropout and his first full-time job as a Western Union messenger delivering telegrams. He admits to flirting with Marxism in his early twenties as he first tried to grapple with the housing inequality he saw across the neighborhoods of New York City. Marxism, he says, was the only explanation he could find at the time. He went on to serve in the Marine Corps before continuing his education in economics at Harvard and earning a master’s at Columbia and a PhD at the University of Chicago.
Sowell’s first job after his receiving his PhD in economics was working for the Department of Labor, and he says it was there that he realized Marxism was not the answer. He argues that the government has its own institutional interests in inequality that cannot be explained through Marxism. He began to be discouraged by Marxism and the government in general and began searching for better economic ideas and solutions (the free market).
Robinson and Sowell discuss Sowell’s written works, his ideas of racial and economic inequality, the state of the United States today, and much more.
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Snickety Snickerdoodle
Snickety Snickerdoodle 4 өдрийн өмнө
Lots of white leftists giving thumbs down.
Jeffrey Barber
Jeffrey Barber 4 өдрийн өмнө
I see no reason to even bring race into the conversation concerning the brilliance of Dr. Sowell ! It leans back on to what is wrong with our social thinking. "This man changed my life and taught me how to think. I've never felt more free." That statement is good enough, being black doesn't need to be in the sentence. Then the next comment calls white into the conversation? Personally I simply see a brilliant man delivering brilliant thoughts, that is it! Just a man ! We need to get this color thing out of the picture, for mutual mental health! Then we will all be more free.
David Sherrod
David Sherrod 4 өдрийн өмнө
Everyone knows about Sweden not closing, masking, distancing or any of the non sense and not having any additional deaths as a result. Yet we don the masks stay back from one another, wash our hands raw... we are conditioned and are getting angrier by the day. When we go outside in front of the Capital building mask less and bang on pots and pans for 3 days running like the Danes did in front of their parlament building. we will get their attention and shut this crap down and not until then. When our so called thought leaders start talking about Sweden,, and Denmark, like they should be doing, people won't know how to get it done. Wake up, Wake up it's your self proclaimed job! Tell the people . Tell the people!
Lewis Edwards
Lewis Edwards 4 өдрийн өмнө
Give. This. Man. A. Nobel. Prize. For. Economics.
Kailua Kidd
Kailua Kidd 6 өдрийн өмнө
Brilliant analysis. The man is a treasure.
acajudi100 8 өдрийн өмнө
Trust God folks..
M Si
M Si 8 өдрийн өмнө
“It’s like they take their anti-facts shots every year, and the facts never affect them.”
Piroclanidis 9 өдрийн өмнө
Is it just me or does he sound exacly like Sylvester Stallone
canuck cowboy
canuck cowboy 9 өдрийн өмнө
Thomas Sowell amazing intellect, I enjoy listening to this man opinion and conclusions,his honesty is what the world needs and want. He deserves more recognition than he receives , a complete leader.
callous21 11 өдрийн өмнө
Great let's raise rates, end bailouts
Carl Boatmen
Carl Boatmen 11 өдрийн өмнө
The inequality is only in the mind. It is inherent to the african species of humans. They bring it upon themselves.
Bob 11 өдрийн өмнө
callous21 11 өдрийн өмнө
He spent his 20s as a marxist? Like most poor young 20 something's
carmen1701 11 өдрийн өмнө
Terrific interview! We are very fortunate to have someone like Mr. Sowell to enlighten us with his knowledge, unlike today's school systems. Looking forward to more of his interviews regardless of how old they are, and reading his books. As he said, it's easy to forget basic economics.
Shaquesse Jones
Shaquesse Jones 12 өдрийн өмнө
Who else also use to be a Marxist? I was a Bernie bro in 2016, but now a trump supporter.
Austin Gray
Austin Gray 12 өдрийн өмнө
What a brilliant gentleman. I feel changed by his words, truly.
Sean Kennedy
Sean Kennedy 12 өдрийн өмнө
How can we get this wisdom out into the world.
witenitenz 12 өдрийн өмнө
I just watched this in 2020, and it's more relevant today than it was in 2018. Thank you so much for this presentation.
Marc Randell
Marc Randell 14 өдрийн өмнө
Sad that no one really looks at this. This man is my hero and I’m as white as they come,,,, So much I’m from the land of Caucasiania.
La’Ren 14 өдрийн өмнө
2500 haters and counting
Samantha Ivanic
Samantha Ivanic 14 өдрийн өмнө
Tealeaf Song
Tealeaf Song 16 өдрийн өмнө
I treasure any opportunity to listen to Thomas Sowell. Thank you for this conversation.
goldpencil007 17 өдрийн өмнө
Sempri Fi Devil Dog, Happy Birthday Marine
Jenn S
Jenn S 17 өдрийн өмнө
Amazing interview! Dr Sowell is an inspiration to us all:)
Ben Rahi
Ben Rahi 17 өдрийн өмнө
Words of wisdom
Brian Rajala
Brian Rajala 17 өдрийн өмнө
At least the second time I have listened to this segment ... intently each time. Dr Sowell's vision for America is far clearer than any I have heard, ever. It would result inca wealthier and happier society. Peter Robinsonvdies well bringing the gold nuggets Sowell has to share.
Jerry Nonofbss
Jerry Nonofbss 17 өдрийн өмнө
Can a black person tell me if he feels better if he is called African-American rather than black American or simply black? Is this a euphemism? Why some people are called whites (not European Americans) and others are called African-Americans? How many generations have to pass until you are a black American and not an African-American anymore?
Paul GA
Paul GA 17 өдрийн өмнө
It is a sad state of affairs when you have to trawl the Internet to find superb interviews like this that combine knowledge with FACTS. The information you get from the media and most Universities is utter garbage!!! This man, along with the likes of Shelby Steele, should have daily programmes on TV. Our children need a fact based education, not left wing indoctrination! 🤬
Stephen J.
Stephen J. 17 өдрийн өмнө
He's brilliant. One of the greatest thinkers of our generation.
Jake Thompson
Jake Thompson 17 өдрийн өмнө
It makes you feel so much more powerful when you realize you are responsible for yourself.
walter kersting
walter kersting 17 өдрийн өмнө
Reparations today, and subsequent generations tomorrow until they eventually enslave us.
David Oney
David Oney 17 өдрийн өмнө
I like this guy
PEACE FAMILY 17 өдрийн өмнө
limpingoatfarm 18 өдрийн өмнө
More than 50 years a fan.One of the most sensible people on the planet. Intelligence is one thing, being able to use it to draw factual conculsions is a gift.
filipinowhiteboy 18 өдрийн өмнө
For a second I thought Peter Robinson was Keith Olberman.
Jonathan Hughes
Jonathan Hughes 18 өдрийн өмнө
I say just let Thomas Sowell run the world and let us all stay out of it because at least he looks at the situation so at least we can understand the reasoning behind things, and will explain it where I am perfectly convinced and I didn’t think I would be.. loved us Eye roll at AOC.. lol, I feel that way all the time..
Vicky Zecchino
Vicky Zecchino 18 өдрийн өмнө
I am always so impressed with Thomas Sowell! Thank you!
Anonymous 19 өдрийн өмнө
The fact that this has over 3,300,000 views encourages me.
Jacob Joyner
Jacob Joyner 19 өдрийн өмнө
Sheila Ward
Sheila Ward 22 өдрийн өмнө
We also need school vouchers so parents and children can have a choice of where to go to school. Black children would not be forced to go to inadequate schools and the schools themselves would improve.
Frank Bravo
Frank Bravo 23 өдрийн өмнө
Bruhh.. ya complain that the system don’t work, and that people don’t understand. But suddenly this system works if everyone understands? That’s the basis for anything. The slave system would’ve worked if everyone understood and followed it too. That’s not a valid point.
Ann Bruce Pineda
Ann Bruce Pineda 23 өдрийн өмнө
My first job was in Geeter High School, recently incorporated into the Memphis City Schools. It was in Whitehaven!!! But most of the white students had left by the time I started working there. “Fools rush in...” so I had the gall and the parents of two of my best Spanish students agreed to let me take them to Mexico. Who would entrust their children to an immature (20+yrs old) white teacher today? Both girls were perfect ladies and one came back, after one year and a couple of weeks in Mexico, totally bilingual. Her name was Beverly. Older colleagues of hers, Ossie, a Spanish student, and James, a French student, were on the current events team which competed with similar teams in the rest of the city and came in second. Ossie went to West Point and James had a full scholarship to Yale. I think each of these young black students was raised in a two parent family in a rural area. As soon as the public housing was built next to the school, things began to change.
Barbara McDade-Gordon
Barbara McDade-Gordon 23 өдрийн өмнө
Dr. Sowell derides Venezuela as an example of “bad” socialism. But he curiously does not mention Sweden or Norway as examples of socialism.
Proven And Probable
Proven And Probable 23 өдрийн өмнө
Great interview. Neurons expand when you listen to Mr Sowell.
graftedin3 25 өдрийн өмнө
awesome man, a must read for aoc and K harris.
Sunshine lollipops
Sunshine lollipops 25 өдрийн өмнө
Jill Olson
Jill Olson 25 өдрийн өмнө
The facts remain.....even though the left refuses to accept them.
Charlie G
Charlie G 25 өдрийн өмнө
"My first job was with Western Union". "You need to explain what a job is because some of the viewers won't know what that is."
Gee Mac72
Gee Mac72 25 өдрийн өмнө
If only the smart conservatives were the elected conservatives.
Art Benson
Art Benson 25 өдрийн өмнө
The liberals inject themselves with Factcines.
Jared Lambrecht
Jared Lambrecht 25 өдрийн өмнө
This was a great interview. So refreshing to listen to person from the education system that looks for the non political truth and uses simple common sense to illustrate a point. I regret I am only learning of him now
Albert leo
Albert leo 25 өдрийн өмнө
Watching this so I don't get brainwashed in 2020 💪
Olivier Morteau
Olivier Morteau 26 өдрийн өмнө
Peter Robinson strikes me as an imbecile. As for Sowell, he's so full of hot air he might go Hindenburg at any time.
maximix 21
maximix 21 26 өдрийн өмнө
For the yt algorithm
Jasam Jameson
Jasam Jameson 26 өдрийн өмнө
Raymond Dunne
Raymond Dunne 27 өдрийн өмнө
Every American should be worried about what the entrenched interests are doing to prevent the expansion of charter schools. Ignorance is the real pandemic.
Jill Olson
Jill Olson 25 өдрийн өмнө
They are coming for the homeschoolers too.
Maxim Ghost
Maxim Ghost 27 өдрийн өмнө
2.4K Marxists disliked this video
PatriotGrandma79 27 өдрийн өмнө
Now this is a self made man, very good example for all young people 👍
Chris Warren
Chris Warren 27 өдрийн өмнө
John Dale
John Dale 27 өдрийн өмнө
Donald J Trump pointing out a Black supporter at a rally : "Hey! Look at MY African American over here! Look at him!"
Aguas Profundas con Dios
Aguas Profundas con Dios 27 өдрийн өмнө
I wish every black man in the world the success this man has - I say this as a white man.
Andrew Neisess
Andrew Neisess 27 өдрийн өмнө
What a mixed up cherry-picking of data. There was a lot more going on from 1950s to now economically than just the concept of a welfare state that tries to use government funding on poverty programs. Privatisation and de-regulation of financial markets cause a lot of economic instability during this period. Bringing up Venezuela as the key example of socialist movements (in the face of successful Correa and Morales governments and the failure of the right wing Chilean and Guatemalan governments) is a money making talking point. Also Marx isn't really a pro-government ideology, just look at the Black Panthers who used local community action to help themselves when the government chose to neglect and harass them. I don't think he actually read much Marx.
Wild Bill
Wild Bill 27 өдрийн өмнө
Love Dr Thomas Sowell!!
AD 27 өдрийн өмнө
What an impressive career Prof. Sowell has! 👌
Pickle Rick
Pickle Rick 27 өдрийн өмнө
Myths is how people carry on life. Even if it's not true, it makes people feel better, and that's all that matters.
dillard randall
dillard randall 27 өдрийн өмнө
I'm black man and I've never read anything by Mr.Sowell, yet I have had these same views since I was a teen-ager. I guess just using your head and looking at things with an open mind and common sense goes a very long way. I will be reading Thomas Sowell now.
Patrick Catesby
Patrick Catesby 29 өдрийн өмнө
This interviewer seems somewhat simple. I don’t think he is but he’s a bit theatrical in front of the the great Sowell. Why can’t he just be himself and stop spluttering with deference and bemoaning every sacred cow slain by Sowell?
Patrick Catesby
Patrick Catesby 29 өдрийн өмнө
It’s as if he can’t get out of the box of the Marxist academy....why on earth does he find talking to Thomas Sowell (about Charter Schools but he maintains that it is every time) “discouraging”? TS is a ray of hope and it’s the reaction of the academy or education board to the success of charter schools which is better called “discouraging”. I just feel he’s shedding not quite crocodile tears but trying to buy time before the faults of the Marxist academy come home to haunt it, and trying to avoid being the one who bears it the bad news.
vadra cox
vadra cox 29 өдрийн өмнө
He is so right...I know ppl who don’t get married (I believe) because they have more benefits such as more income tax and health care remaining unmarried.
Scott Donald Campbell
Scott Donald Campbell 29 өдрийн өмнө
study thomas sowell should be mandatory for students of all ages
Joseph Trierweiler
Joseph Trierweiler 29 өдрийн өмнө
Okay Boomer
Joseph Scarfo
Joseph Scarfo 29 өдрийн өмнө
This guys IQ has to be at least 150 Jesus Christ
K Z Сарын өмнө
When a black person talks about how the system is not rigged against them you get a million views and thousands of likes but when they talk about how the system is rigged against them you get a few thousand to watch the video Lol! I’m not African American but they had it Pretty Pretty Bad! I would like to know how many white people have been interviewed for a job by a black person?
Jeffrey Locke
Jeffrey Locke Сарын өмнө
My favorite thinking man. Thomas Sowell!!!
Christopher Pryor
Christopher Pryor Сарын өмнө
Simply BRILLIANT!!! Thomas Sowell is one the greatest minds still alive of our entire time. This man ought to be remembered as one the greatest Americans ever.
corinne nicole
corinne nicole Сарын өмнө
i want to know why venezuela is the evidence that socialism is a failure. what about other countries that have flourished with it, including usa. socialism exists in varying degrees in nearly every developed nation to some level already, in conjunction with capitalism. they basically exist together on a spectrum... some countries lean heavier to one side than the other. an extreme of either is not good. a balance of the two allows for freedom and opportunity but also provides safety nets for people.
NateIsCorrupt Сарын өмнө
Smart man, can we have more like him?
Rodney Linville
Rodney Linville Сарын өмнө
Do not believe for a minute that the far Left followers of those who thought that they could create the "Great Society" actually believe they can achieve just that ! They know it is a fallacy and only hold to it on the front because creating even more of the welfare state gives them further control... PERIOD !
Azathoth Hastur
Azathoth Hastur Сарын өмнө
Mike Kano
Mike Kano Сарын өмнө
When white people are poor and their place looks poor you build it up you make it look better then you got some we don't expect nobody to come around and give us something we never have
Matt Henry
Matt Henry Сарын өмнө
That is a great final quote.
Mech Сарын өмнө
My favorite thing so far in this video is at 13:44 Peter Robinson explains that the book contained information not in favor of the unconstrained, or constrained vision. Then Thomas Sowell replies with "That is not a book meant to show one vision is better than the other, it's there to show you what they are and what you're assuming if you go one way or the other, it's to encourage people to understand the implicit assumptions behind all this" Thomas Sowell does not have the interest of persuading people to one side, he informs those on the problems of both sides, and genuinely wants you to make your own decision, based off of that information he has provided. In this, he is notioning that there are problems for both 1 and 0. And that making a binary decision, is not applicable to reality, because reality doesn't work in binary. This man explains and aligns with everything that has been in my brain for a long time, but I couldn't quite find the words to explain it. I can now effectively describe my stance on the topics I argued for, for so many years. Thomas Sowell, you have given me a gift that very few people have given me before, and that is knowledge, and I am indebted to you for that. We will spread your knowledge onto the ones around us, and hopefully they will come to understand the error of their ways. And I will continue to seek knowledge wherever it goes. Thank you.
Thor Hamm
Thor Hamm Сарын өмнө
My appreciation of life, people like Thomas Sowell is that in life. Thank you.
Keith Torrence
Keith Torrence Сарын өмнө
Imagine ignoring the war on drugs and agreeing that black people are doing better economically but still trying to say that liberals made them worse.
Robert C
Robert C Сарын өмнө
I am 51 years old and my entire life experience was illuminated to me watching this video. The welfare state and the utter failure became clear to me years ago when I toured the LBJ Museum in Austin, Texas. The more they helped the worse it got.
njdevfan69 Сарын өмнө
My God, it is a pleasure to listen to such an intelligent man speak.
William Shepherd
William Shepherd Сарын өмнө
Venezuela is only having economic issues is because the US government and big oil turned their backs on a once ally and sanctioned their freedom to do capalistic business with the rest of the world
AnovaLisa Dragonfly
AnovaLisa Dragonfly Сарын өмнө
14:50 “If we wanted to be serious about evidence, we might compare where blacks stood a hundred years after the end of slavery with where they stood after 30 years of the liberal welfare state. In other words, we could compare hard evidence on ‘the legacy of slavery’ with hard evidence on ‘the legacy of liberals.’” -Thomas Sowell BOOM!
X00000370 Сарын өмнө
Thomas Sowell is a great American and an exceptional human being. His questioning mind drives him to seek truth and his genius allows him to analyze the resultant data. Some can seek truth and some can analyze data but few can summarize the results in a way that most Americans (people) can understand.
Daniel Schoch
Daniel Schoch Сарын өмнө
According to Sowell, the Welfare State is responsible for the dissolution of families because it "pays people to leave marriages". So, single mums are lazy wretches living on the wallet of other people? Really??? And even if - should we economically coerce women into unhappy marriages? Can't we then go one step further and reintroduce slavery on a full scale? There is no greater tragedy for economic science than a frustrated ex-Marxist who turned to the opposite right-wing end of laissez-fair pro-corporatism. Such a man is lost for science forever. He is right in claiming that his scientific standards have not changed since his Marxist time (sic!). And the right-wing Hoover instituted provides just the right stage for his propaganda devoid of facts beyond superficial observations. Any statistical methodology to support his outrageous claims that the Welfare State makes people divorce and criminal?
Deborah Bavas
Deborah Bavas Сарын өмнө
D Сарын өмнө
Stop leaning forward.... makes everyone unconfortable
Varvara L'Amour
Varvara L'Amour Сарын өмнө
I am a big believer in *educating* the poor. *Education* is empowering and permanent. *educate* × *educate* × *educate*
Axel Foley
Axel Foley Сарын өмнө
National treasure.
The PLAYERS Сарын өмнө
Good news! AI is going to alter the whole landscape. All this will seem uselessly quaint.
jamilor Сарын өмнө
This man's mind and memory are amazing.
Wesley Dickhaut
Wesley Dickhaut Сарын өмнө
The only thing I could possibly disagree with in regards to what this man says and feels from what he sees in the numbers is the unemployment rates of to day as the standard of measurement has changed dramatically. People that have been unemployed for long periods of time no longer fall into the unemployed category rather fall into the category of not looking for employment which decreases the number that represents unemployed populations. A change of definition has been made. Therefore many young men in particular who aren't working but also are not looking for work are not counted as unemployed anymore which brings the number down but Doesn't change anything there are still large amounts of people who aren't working or looking for work. Many reasons include mental health over protective parents irresponsible life choices etc I being one of those people for almost 3 years in my early twenties.
ssjgokuhan Сарын өмнө
It's sad that you can't use any of these facts or make any of these arguments without being called a racist.
daviru02 Сарын өмнө
At 49:45 Thomas' expression was exactly what I was thinking
Jake Fratelli
Jake Fratelli Сарын өмнө
BLM and ANTIFA won't like this.
Charles Eldredge
Charles Eldredge Сарын өмнө
An American treasure...Thomas Sowell. Thank God for him.
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