Political Economy

Download PDF by Charles J. Sykes: A Nation of Moochers: America's Addiction to Getting

By Charles J. Sykes

ISBN-10: 0312547706

ISBN-13: 9780312547707

We have skilled a shift in American personality: we’ve turn into a country of moochers. more and more depending on the efforts of others over our personal, american citizens are unfastened to freeload. From the company bailouts on Wall highway to the alarming raises in own default and dependency, from questionable tax exemptions to huge, immense pension, healthcare, and different entitlement expenses, the hot moocher tradition cuts throughout strains of sophistication, race, and personal and public sectors. And the thousands that plan and behave sensibly, purely to bail out the profligate? They’re angry.

Charles Sykes’ argument isn't really opposed to compassion or valid charity, yet goals the recent moocher tradition, within which self-reliance and private accountability have given solution to mass greedy after handouts. A kingdom of Moochers is a persuasively argued and interesting rallying cry for americans who're uninterested in enjoying by way of the principles and purchasing those that don’t.

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Additional resources for A Nation of Moochers: America's Addiction to Getting Something for Nothing

Sample text

But if such an equilibrium situation with a horizontal demand function is logically im­ possible, then this particular notion of resource misallocation is incorrect. “Misallocation” is relative to what possible standard? “Restricted” output is relative to what possible standard of output? “ Inefficient” is relative to what possible standard of efficiency? W ithout perfect competition as a standard, monopoly power and monopolistic competition are indistinguishable from any selling situations where firms face a downward sloping demand curve, and where they attempt to maximize their profits by equating marginal reve­ nue with marginal costs.

Schumpeter constantly chided his fellow econ­ omists for thinking of competition, and hence, of capitalism, in static termi­ nology. ”27 This sort of innovative competition was incompatible with per­ fect competition, and incompatible with the sort of ideal business organiza­ tion envisioned under competitive conditions. Instead, the large capital-in­ tensive firm was “the most powerful engine” of dynamic competition. Schumpeter concluded that perfect competition is not only impossible but inferior, and has no title to being set up as a model of ideal efficiency.

1 Prices in openly competitive markets may tend to remain stable even though there are “small” increases in supply. But this observation does not demonstrate that individual demand functions are perfectly horizontal or that sellers have no influence on market price. It simply demonstrates that market demand has shifted (slightly) to purchase the (slightly) larger supply that is in the market. If the demand curve is held constant, however, the slightly larger output must be sold at a slightly lower market price.

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A Nation of Moochers: America's Addiction to Getting Something for Nothing by Charles J. Sykes

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