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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?
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Mess
Congress
Two
Economists
Doe
Economist
Government
Lawyers
Hundreds
Lawyer
Explain
More quotes by Thomas Sowell
Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
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In the United States, liberals have made it virtually impossible [to increase the supply of oil] by banning drilling in all sorts of places and preventing any new refinery from being built anywhere in the country in the last 30 years.
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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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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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The left takes its vision seriously - more seriously than it takes the rights of other people. They want to be our shepherds. But that requires us to be sheep.
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You cannot subsidize irresponsibility and expect people to become more responsible.
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In medicine, it has long been recognized that even a quack remedy that is harmless in itself can be fatal when it substitutes for an effective medication or treatment. The time is overdue for that same recognition to apply to politics.
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There are few things more dishonorable than misleading the young.
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If we become a people who are willing to give up our money and our freedom in exchange for rhetoric and promises, then nothing can save us.
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Even squirrels know enough to store nuts, so that they will have something to eat when food gets scarce. But the welfare state has spawned a whole class of people who spend everything they get when times are good, and look to others to provide for their food and other basic needs when times turn bad.
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Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more.
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Extrapolations are the last refuge of a groundless argument.
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No society ever thrived because it had a large and growing class of parasites living off those who produce.
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The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
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The difference between a policy and a crusade is that a policy is judged by its results, while a crusade is judged by how good it makes its crusaders feel.
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Love is a four-letter word, but you don't hear in nearly as often as you hear some other four-letter words. It may be a sign of our times that everyone talks openly about sex, but we seem to be embarrassed to talk about love.
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Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.
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Those who cry out that the government should 'do something' never even ask for data on what has actually happened when the government did something, compared to what actually happened when the government did nothing.
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A moral monopoly is the antithesis of a marketplace of ideas.
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Some full professors could more accurately be described as empty professors.
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