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Lunches don't get free just because you don't see the prices on the menu. And economists don't get popular by reminding people of that.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Reminding
Economist
Prices
Lunch
Popular
Lunches
Economics
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Free
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People
Economists
More quotes by Thomas Sowell
Rhetoric is no substitute for reality.
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The talkers and writers resent being left on the sidelines by the doers.
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You may scoff at the Tooth Fairy if you like. But the Tooth Fairy's approach has gotten more politicians elected than any economist's analysis.
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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.
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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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The Constitution cannot protect us unless we protect the Constitution.
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The anointed don't like to talk about painful trade-offs. They like to talk about happy solutionsthat get rid of the whole problem- at least in their imagination.
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In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.
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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.
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The great allure of government programs in general for many people is that these programs allow decisions to be made without having to worry about the constraints of prices, which confront people at every turn in a free market.
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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.
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We're not a socialist country, because the socialists believe in government ownership in the means of production, but the fascists believe that the government should have private ownership and the politicians should tell people how to run the businesses. So that's the route we seem to be going.
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The Massachusetts Institute of Technology accepts blacks in the top ten percent of students, but at MIT this puts them in the bottom ten percent of the class.
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The real goal should be reduced government spending, rather than balanced budgets achieved by ever rising tax rates to cover ever rising spending.
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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.
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Both history and contemporary data show that countries prosper more when there are stable and dependable rules, under which people can make investments without having to fear unpredictable new government interventions before these investments can pay off.
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Egalitarians create the most dangerous inequality of all - inequality of power. Allowing politicians to determine what all other human beings will be allowed to earn is one of the most reckless gambles imaginable. Like the income tax, it may start off being applied only to the rich but it will inevitably reach us all.
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Most people who read The Communist Manifesto probably have no idea that it was written by a couple of young men who had never worked a day in their lives, and who nevertheless spoke boldly in the name of the workers. Thomas Sowell .
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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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The idealism of the left is a very selfish idealism. In their war against 'the rich' and big business, they don't care how much collateral damage there is to workers who end up end up unemployed.
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