Quote of the Day: The Fallacy of Redistribution – Thomas Sowell

In theory, confiscating the wealth of the more successful people ought to make the rest of the society more prosperous. But when the Soviet Union confiscated the wealth of successful farmers, food became scarce. As many people died of starvation under Stalin in the 1930s as died in Hitler’s Holocaust in the 1940s.

How can that be? It is not complicated. You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth — and that future wealth is less likely to be produced when people see that it is going to be confiscated. Farmers in the Soviet Union cut back on how much time and effort they invested in growing their crops, when they realized that the government was going to take a big part of the harvest. They slaughtered and ate young farm animals that they would normally keep tending and feeding while raising them to maturity.

via The Fallacy of Redistribution – Thomas Sowell

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2 responses to “Quote of the Day: The Fallacy of Redistribution – Thomas Sowell

  1. Reblogged this on socialhumanrace and commented:
    Stalin’s common thinking ,with Hitler,was shown when Stalin was suprised by HItler’s attack on Communist Russia!

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