Thomas Sowell understands history and economics. He also knows Obama

If you haven’t read Thomas Sowell then you need to. Sowell is a free thinking economist and template buster who refuses to kowtow to the sacred cows of modern intellectualism. He also happens to be black (making him “cool” in the parlance of the Congressional Black Caucus). On an interesting cultural note, David Mamet cites Sowell as one reason he’s no longer a brain dead liberal.

I would also encourage you to spend some time with Investor’s Business Daily, both for its investments insights as well as its opinion section. It is bold and spot on in its calls for a freer society and markets and in its criticism of anyone who seeks to curtail that freedom, even if that person is the President.

So it’s double the fun when Sowell has a piece in IBD as he does today. As usual he offers some excellent insight and we would do well to heed his words.

Here’s an excerpt:

What President Obama has been pushing for, and moving toward, is more insidious: government control of the economy, while leaving ownership in private hands. That way, politicians get to call the shots but, when their bright ideas lead to disaster, they can always blame those who own businesses in the private sector.

Politically, it is heads-I-win when things go right, and tails-you-lose when things go wrong. This is far preferable, from Obama’s point of view, since it gives him a variety of scapegoats for all his failed policies, without having to use President Bush as a scapegoat all the time.

Government ownership of the means of production means that politicians also own the consequences of their policies, and have to face responsibility when those consequences are disastrous — something that Barack Obama avoids like the plague.

Sowell goes on to break down the conventional criticism of Obama as socialist. The truth is scarier.

Read the rest here.

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