print“Parity in prosperity and performance can be achieved only playing socialist leveler” (Into the Cannibal’s Pot: Lessons for America from Post-Apartheid South Africa, p. page 127). And even then, leveling legislation, such as compulsory preferential hiring or money lending, will eventually fail. Reports the Wall Street Journal:
The wealth gap between whites and each of the nation’s two largest minorities—Hispanics and blacks—has widened to unprecedented levels amid the housing crisis and the recession, according to new research.
The median net worth of white households is 20 times greater than that of black households and 18 times greater than that of Hispanic households, according to an analysis of newly available 2009 government data by the Pew Research Center, an independent think tank.
The disparities are the greatest since the government began tracking such data a quarter-century ago, with the gulf separating whites from other groups twice as wide as it was in the two decades prior to the recession and 2008 financial crisis, according to the study.
Let’s see – my 6 nearest neighbors include: a Chinese couple, an Italian married to a WASP, another Italian couple, an Indian married to a WASP, a Japanese-Jewish couple, and a Nepalese couple. Now perhaps this is some evil RACIST CONSPIRACY or perhaps these are professional people who got advanced degrees and earn their wealth?? And my black Ph.D. friend from MIT is doing rather well.
Of course, much of the decline in wealth came when minorities were encouraged by the Republicrat-Demoplican “own your inflated home with balloon mortgages” philosophy. And, it should be noted that there is a vast difference in quality between the “PUBLIC SCHOOLS” of the DC ghetto and Fairfax, VA while there is almost zero difference between private services such as Verizon, Google, McDonalds, CVS Pharmacy, and supermarkets between DC and Fairfax. Could our idiotic paternalistic government actually be making things WORSE??? Do “social promotions” and keeping incompetent teachers improve education of the poor??
Now, of course, the blacks of South Africa are being looked after by the ANC Government and probably getting even worse government than the Washington DC locals get at the hand of their local government.
Many years ago, Walter E. Williams, Ph.D. – Economics at George Mason University in Virginia stated how, in his opinion, Blacks could avoid poverty. He gave the following 6 points – I hope I have them correctly:
1. Graduate from High School
2. Don’t get pregnant outside marriage
3. If you get married, stay married
4. Hold a job and if you lose it, get another asap even if it isn’t what you want and work it till you get what you want
5. Don’t do drugs or become alcoholic
6. Keep yourself trained / educated in your work (I think this is one of them)
Williams discussed these things while hosting one of Rush’s show years ago. BTW – Williams was a professor to Thomas Sowell, Ph.D..
My point in referencing Williams is that he shows that one – black, brown, white, or whatever color – does not need government to be one’s fairy godmother. Do as IBM’s slogan says: THINK, LOOK IT UP, PLAN, DECIDE, ACT. You can succeed if you unshackle yourself.
One can’t legislate sows ears into silk purses no matter how sincere they are.