A lesson in economics

on Tuesday, August 4, 2009

A Quick Lesson in Economics ........

An economics professor at a local college made a
statement that he had never failed a single student,

but had once failed an entire class.

That class had insisted that socialism
worked; 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 socialism. All grades would be
averaged, and everyone would receive the same grade; so no one would fail, and
no one would 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.

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.

All failed, to their great surprise, and the professor told them that socialism
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.

Can it be any simpler than that?


Anonymous said...

Interesting... Works for me, at least.