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The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Law
Means
Diminishing
Science
Harmful
Become
Returns
Enough
Beneficial
Mean
Statistics
Even
Carried
Return
More quotes by Thomas Sowell
'Fair' is one of the most dangerous concepts in politics. Since no two people are likely to agree on what is 'fair,' this means that there must be some third party with power - the government - to impose its will. The road to despotism is paved with 'fairness'.
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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.
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In various countries and times, leaders of groups that lagged behind, economically and educationally, have taught their followers to blame all their problems on other people - and to hate those other people.
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Any judicial nominee who has said that the Constitution means what it says, not what judges would like it to mean, is going to be called an 'extremist.' That person will be said to be 'out of the mainstream.' But the mainstream is itself the problem.
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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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When people get used to preferential treatment, equal treatment seems like discrimination.
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People who thing that they are getting something for nothing, by having government provide what they would otherwise have to buy in the private market, are not only kidding themselves by ignoring the taxes that government has to take from them in order to give them the appearance of something for nothing.
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The fact that the market is not doing what we wish it would do is no reason to automatically assume that the government would do better.
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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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In the string of amazing decisions made during the first year of the Obama administration, nothing seems more like sheer insanity than the decision to try foreign terrorists, who have committed acts of war against the United States, in federal court, as if they were American citizens accused of crimes.
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If you don't believe in the innate unreasonableness of human beings, just try raising children.
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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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The principles applied in economic processes are general social principles.
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It is amazing how many people seem to think that the government exists to turn their prejudices into law.
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In the long run, the greatest weapon of mass destruction is stupidity.
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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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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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Extrapolations are the last refuge of a groundless argument.
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There is no bigger waste of time than doing 90% of what is necessary.
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Some of the people on death row today might not be there if the courts had not been so lenient on them when they were first offenders.
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