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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.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
People
Vegas
Ill
Saving
Bailing
Lost
Mortgages
Sense
Casinos
Makes
Advised
Made
Mortgage
Life
Savings
More quotes by Thomas Sowell
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.
Thomas Sowell
Wise men wrote the Constitution, but clever judges have been destroying it, bit by bit, turning it into an instrument of arbitrary judicial power, instead of a limitation on all government power.
Thomas Sowell
The fashionable idiocy that haters must have justifications is one of those ideas that George Orwell said only an intellectual could believe -- because no one else could be such a fool.
Thomas Sowell
Central planning, judicial activism, and the nanny state all presume vastly more knowledge than any elite have ever possessed.
Thomas Sowell
The biggest and most deadly 'tax' rate on the poor comes from a loss of various welfare state benefits - food stamps, housing subsidies and the like - if their income goes up.
Thomas Sowell
Liberals seem to assume that, if you don't believe in their particular political solutions, then you don't really care about the people that they claim to want to help.
Thomas Sowell
People used to complain about 'the idle rich.' But the idle rich did not do the kind of harm being done by today's busybody rich, who feed their own egos by bankrolling political crusades on the left which hurt the very people that the left claims to care about -- working people, minorities, and children.
Thomas Sowell
Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.
Thomas Sowell
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.
Thomas Sowell
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.
Thomas Sowell
People who pride themselves on their complexity and deride others for being simplistic should realize that the truth is often not very complicated. What gets complex is evading the truth.
Thomas Sowell
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
Thomas Sowell
Of all ignorance, the ignorance of the educated is the most dangerous. Not only are educated people likely to have more influence, they are the last people to suspect that they don't know what they are talking about when they go outside their narrow fields.
Thomas Sowell
Reality is not optional.
Thomas Sowell
If politicians were serious about day care for children, instead of just sloganizing about it, nothing they could do would improve the quality of child care more than by lifting the heavy burden of taxation that forces so many families to have both parents working.
Thomas Sowell
What makes it possible for politicians to do so many things that are economically counterproductive is that neither the public nor the media know enough of the basics to understand what's wrong with what they're saying.
Thomas Sowell
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.
Thomas Sowell
You cannot take any people, of any color, and exempt them from the requirements of civilization - including work, behavioral standards, personal responsibility, and all the other basic things that the clever intelligentsia disdain - without ruinous consequences to them and to society at large.
Thomas Sowell
There are 3 questions that would destroy most of the arguments of the Left. The first is - compared to what? The second is - at what cost? And the third is - what hard evidence do you have?
Thomas Sowell
The murder of a dozen innocent people is unquestionably a human tragedy. But that is no excuse for reacting blindly by preventing hundreds of thousands of other people from defending themselves against meeting the same fate.
Thomas Sowell