Labor is not the source of wealth

Brilliance — even genius — is no guarantee that consequential factors have not been left out or misconceived. Karl Marx’s Capital was a classic example of an intellectually masterful elaboration of a fundamental misconception — in this case, the notion that “labor,” the physical handling of the material and instruments of production, is the real source of wealth. Obviously, if this were true, countries with much labor and little technology or entrepreneurship would be more prosperous than countries with the reverse, when in fact it is blatantly obvious that the direct opposite is the case.

Slavery vs. the welfare state

New York Times writer Nicholas Kristof asserts that there is ‘overwhelming evidence that centuries of racial subjugation still shape inequity in the 21st century’ and he mentions ‘the lingering effects of slavery.’ If we wanted to be serious about evidence, we might compare where blacks stood a hundred years after the end of slavery with where they stood after 30 years of the liberal welfare state.