PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Anton Dekker
 
Comments: 16
Article views: 698
 
 
Latest Badges:


 
View all Anton Dekker's badges.
 

Liberation economics

25 February 2013, 12:00

This is a fairly old piece of wisdom, and I do not know whose original idea this was, but it is easily adapted to our South African situation and in this adaptation speaks volumes of very unfortunate truths,

An economics professor at a local university made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that the ANC’s “liberation” economic policies, including “Affirmative Action”, “Wealth Re-Distribution” and  “Black-economic empowerment” worked and that no one would be poor and no one would be rich, a great equalizer. 

The professor then said, "OK, we will have an experiment in this class on this economic plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy.

As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little. The second test average was a D! No one was happy. 

When the 3rd test rolled around, the average was an F. 

As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else. 

To their great surprise, ALL FAILED and the professor told them that all forced “social and economic engineering policies” would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed.

Could not be any simpler than that.


1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3. The government cannot give to anybody anything that the government does not first take from somebody else.


4. You cannot multiply wealth by dividing it!

5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
16 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Adv Sphamandla Blose
Our heritage, our culture

Celebrating the importance of the Heritage month, Xhosa traditional clothing is one of the most recognised attire that symbolises the rich culture which brings its own vibrancy to our diversity. Read more...

11 comments 456 views
Submitted by
Vulcan Trekkie
What makes you African? Tackling ...

So what makes you African? Is it the colour of your skin? Is it the continent you where born on? Is it your culture, your language or something else? Read more...

18 comments 380 views
Submitted by
Kalos eidos
Obama's UN Speech. How can we bel...

His speech smacked of a New World Order bent, without resorting to the term outright, he used words and phrases like unity, collective, an interconnected world; enforce international norms and so on.  Read more...

35 comments 1048 views
Submitted by
luckyluke
Blind loyalty

What is it that Zuma has that instils the blind loyalty we witness from his most senior appointees in his Cabinet? Read more...

12 comments 346 views
Submitted by
Angela Ford
People just don't care anymore

I was on the train. As it started pulling away, it suddenly came to a stop again. We weren't sure why but a couple of minutes later, we heard that someone was "under the train".  Read more...

23 comments 3402 views
Submitted by
Njabulo Mndebele
Following your heart

I have a question why love is so difficult to understand and why we always chose people wrong people to love them?  Read more...

4 comments 571 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Deal of the week!

20% off Afrikaans books, music and DVDs. Offer valid while stocks last. Shop now!

Save up to R1000 on Hisense smartphones!

View the large range of Hisense smartphones. Buy today and save up to R1000!

Hot gaming titles – available for pre-order!

Call of Duty: Advanced Warfare Day Zero Edition, Far Cry 4, Grand Theft Auto 5 and more. Pre-order now!

Get a free eBook

Buy 3 eBooks and get the cheapest FREE. Offer valid while stocks last. Shop now!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.