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There are few things more dishonorable than misleading the young.

Thomas Sowell

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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Dishonorable
Misleading
Mislead
Young
Things

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Reality is not optional.
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Despite a voluminous and often fervent literature on income distribution, the cold fact is that most income is not distributed: It is earned.
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It is amazing how many people think that they can answer an argument by attributing bad motives to those who disagree with them. Using this kind of reasoning, you can believe or not believe anything about anything, without having to bother to deal with facts or logic.
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The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
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Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.
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What is especially disturbing about the political left is that they seem to have no sense of the tragedy of the human condition. Instead, they tend to see the problems of the world as due to other people not being as wise or as noble as themselves.
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We should listen first and foremost to our own experience We should stop looking for saviors.Society has not existed for thousands of years because it had a succession of saviors. It's existed because it has institutions and processes through which people can realize their own goals.
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As an economist, whenever I hear the word shortage I wait for the other shoe to drop. That other shoe is usually price control.
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Nobody is equal to anybody. Even the same man is not equal to himself on different days.
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Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.
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Weighing benefits against costs is the way most people make decisions - and the way most businesses make decisions, if they want to stay in business. Only in government is any benefit, however small, considered to be worth any cost, however large.
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Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.
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