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America's Distribution of Wealth

Posted on: September 28, 2005 | Views: 29 | Comment

The profit motive is "wholesome and good...wholly compatible with God's law", unlike what those Socialists would have you believe. An interesting Cold War-era panegyric for American capitalism.

One reviewer, thebrix, shared the following insights: "The lecturer attempts to demonstrate that the wealth of Americans is relatively equally distributed. However, there are at least four serious errors in his argument. In summary, Equating wealth with income; Lumping high earners (five times the average wage and above) in one category whereas, in any distribution of income, the tail is surprisingly thick; Using averages rather than medians (fifty per cent above, fifty per cent below), averages being somewhat higher than medians; Treating income from bonds, shares and rentals as though they were exclusive to different groups of people whereas, in fact, they overlap (probably massively).

What really spoils things is an interlude from an "English socialist", with an absurd fake accent, who suggests that, there, a railway engineer would not be able to afford to buy food in a supermarket! Ridiculous, as is the assertion that an average "English worker" would not own a car and would go around on a bicycle. (In 1955 that assertion was becoming history, if it was not already history; UK cars were a success story and the motorway network was already being planned). There is a similarly bizarre contribution from a "Russian"."

Published under:Creative Commons Public Domain

Tags:
economy • propaganda • communism • socialism • capitalism • Cold War