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Book Review: Wealth, Poverty, and Politics by Thomas Sowell

Thomas Sowell is an economist who has written extensively. This is the second book of his that I have read. This book was relatively short but it took me longer than I thought it would to finish it.

Sowell writes “The difference between seeing economic disparities as due to differences in the production of wealth and seeing those disparities as due to the transfer of wealth from some people to other people is fundamental. History shows that either cause of economic disparities can prevail at particular times and places.”

Sowell covers many topics that address economics. When discussing poverty he writes “Isolation is a recurring factor in poverty and backwardness around the world.”

This book discusses geography and culture and the role those play in economic development. Corruption, government inefficiency, and minimum wage laws are additional topics. Sowell writes “More than simple mistakes are involved in promoting a culture of dependency among those whom government statisticians have chosen to define as living in poverty. A dependent voting constituency is very valuable to politicians”

Sowell also spend time discussing equality. He notes “Whatever the merits of any particular definition of equality of outcomes what must be faced are the consequences of perpetually promoting a fervent crusade perpetually frustrated by its own internal contradictions but whose frustration is instead blamed on some human enemies of a sacred cause.”

There is a lot of information in this book. It presents several theories about economics and can be used for thought provoking discussion. However I had a hard time getting through it and was ready for it to be over by the time I got to the end.

Overall I rate it 3 out of 5 stars.

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Lessons from the Jackal: Course Introduction

Great literature should do more than entertain us. It should provide a roadmap to improving our lives.

In A Tale of Two Cities, Charles Dickens introduced readers to Sydney Carton, one of literature's most compelling and deeply flawed characters. Dickens also gives him an unusual title: the Jackal.

His struggles raise questions that remain relevant today.

Are we defined by our past mistakes? Can we overcome our weaknesses? What separates the people we are from the people we could become?

Lessons From the Jackal is a 25-day character study exploring these questions through Sydney Carton’s life, decisions, relationships, and personal development.

This is not a traditional course on A Tale of Two Cities. Our reading assignments will focus specifically on Carton, with sufficient background provided to understand his story. No previous knowledge of the novel is necessary.

Each day will feature selected readings, historical comparisons, reflection questions, discussions, and practical challenges ...

Update

Lessons From the Jackal will return next week. Based on the first five days are there any thoughts you want to share? Are there any changes you would like to see? What do you like most about the course? What do you like least? Any feedback would be great as a finalize the next lessons in the series.

Lessons From the Jackal - Day Five: Final Thoughts

Five days ago, we began with a simple question: How do you measure potential?

Over the course of this week, Sydney Carton has challenged us to reconsider what potential really means.

We met a man whose careless appearance concealed remarkable intelligence. We watched him make observations that others overlooked, only to receive little recognition for his contributions.

We discovered a man who recognized in Charles Darnay a reflection of what he might have become, yet seemed unwilling or unable to pursue that possibility.

We examined his relationship with Mr. Stryver and considered what it means to become a jackal: someone who possesses the ability to contribute to another person’s success while neglecting the pursuit of his own.

Finally, we learned that Carton’s habits began long before his professional career. Even as a schoolboy, he devoted his abilities to completing the work of others while neglecting his own.

Carton attributes some of his disappointments to bad luck. Perhaps circumstances have indeed worked ...

My FOREX Journey
An Idea Begins to Form
Inflation was soaring, talks of recession were incessant and I had some money that hadn’t been spent on bills yet. It was time to invest. But what would I invest in?  The stock market didn’t seem appealing. The price of bitcoin was dropping and as much as I would like to own a game used Bryce
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