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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.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Hear
Economist
Waiting
Drop
Word
Price
Whenever
Shoes
Wait
Usually
Shortage
Control
Shoe
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Reality is not optional.
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The most politically painless way to hand out goodies, without taking responsibility for their costs, is to pass a law saying that somebody else must provide those goodies at their expense, while the politicians take credit for generosity and compassion.
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Economic policies need to be analyzed in terms of the incentives they create, rather than the hopes that inspired them.
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Senator John McCain could never convince me to vote for him. Only Hillary Clinton or Barack Obama can cause me to vote for McCain.
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One of the painfully sobering realizations that come from reading history is the utter incompetence that is possible among leaders of whole nations and empires - and the blind faith that such leaders can nevertheless inspire among the people who are enthralled by their words or their posturing.
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The Congressional Budget Office has been embarrassed repeatedly by making projections based on the assumption that tax revenues and tax rates move in the same direction.
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Each day, as I take various pills, I realize that without those pills I might not be alive -- and, if I were, life would not be worth living. Yet those who produce these medications are under constant attack from people who produce nothing.
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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.
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It is hard to read a newspaper or watch a television newscast without encountering someone who has come up with a new 'solution' to society's 'problems.'
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There is no question that liberals do an impressive job of expressing concern for blacks. But do the intentions expressed in their words match the actual consequences of their deeds?
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More than half of all people filing income tax forms use someone else to prepare the forms for them. Then they have to sign under penalty of perjury that these forms are correct. But if they were competent to determine that, why would they have to pay someone else to do their taxes for them in the first place?
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