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Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Information
Coordinated
Knowledge
Fragmented
Society
Paramount
Money
Prices
Must
Vast
Important
Effective
Thinking
Considered
Fast
Conveyor
More quotes by Thomas Sowell
Envy plus rhetoric equals social justice..
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Groups that rose from poverty to prosperity seldom did so by having their own racial or ethnic leaders to follow.
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There is no talent so ardently supported, nor generously rewarded, as the ability to convince parasites they are victims.
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Most of the founders of this country had day jobs for years. They were not career politicians. ... We need leaders with experience in the real world, not experience in the phony world of politics.
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Reality is not optional.
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There are only two economists in Congress and hundreds of lawyers. Does that explain why the government is in such a mess?
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Those who wrote the Constitution clearly understood that power is dangerous and needs to be limited by being separated - separated not only into the three branches of the national government but also separated as between the whole national government, on the one hand, and the states and the people on the other.
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You need only visit campuses where whole departments feature soft courses preaching a sense of victimhood and resentment, and see the consequences in racial and ethnic polarization on campus.
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Anyone who has actually had to take responsibility for consequences by running any kind of enterprise whether economic or academic, or even just managing a sports team is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.
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Has Obama ever grown even a potted plant, much less a business, a bank, a hospital or any of the numerous other institutions whose decisions he wants to control and override? But he can talk glibly about growing the economy. Arrogance is no substitute for experience. That is why the country is in the mess it is in now.
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Virtually everything that the government does costs more than when the same thing is done in private industry - whether it is building housing, running prisons, collecting garbage, or innumerable other things. Why in the world would we imagine that health care would be the exception?
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Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can be too moral.
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Whether as a radical student, a community organizer or a far left politician, Barack Obama's ideology has been based on a vision of the Haves versus the Have Nots. . .Obama's ideology is an ideology of envy, resentment, and payback.
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Elections should be held on April 16th- the day after we pay our income taxes. That is one of the few things that might discourage politicians from being big spenders.
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Even the Soviet Union, with its huge nuclear arsenal, was a threat that could be deterred by the prospect of retaliation. But suicide bombers cannot be deterred. They can only be annihilated - preemptively and unilaterally, if necessary.
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Creating whole departments of ethnic, gender, and other 'studies' was part of the price of academic peace. All too often, these 'studies' are about propaganda rather than serious education.
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Before the Iraq war I was quite disturbed by some of the neoconservatives, who were saying things like, What is the point of being a superpower if you can't do such-and-such, take on these responsibilities? The point of being a superpower is that people will leave you alone.
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The reason so many people misunderstand so many issues is not that these issues are so complex, but that people do not want a factual or analytical explanation that leaves them emotionally unsatisfied. They want villains to hate and heroes to cheer - and they don't want explanations that do not give them that.
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Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.
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Study after study, not only here but in other countries, show that the most affordable housing is where there has been the least government interference with the market - contrary to rhetoric.
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