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The principles applied in economic processes are general social principles.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Processes
General
Principles
Economic
Process
Social
Applied
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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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Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.
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Much of the self-righteous nonsense that abounds on so many subjects cannot stand up to three questions: (1) Compared to what? (2) At what cost? and (3) What are the hard facts?.
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If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.
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Politeness and consideration for others is like investing pennies and getting dollars back.
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Wal-Mart has done more for poor people then any ten liberals, at least nine of whom are almost guaranteed to hate Wal-Mart.
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Social values in general are incrementally variable: neither safety, diversity, rational articulation, nor morality is categorically a good thing to have more of, without limits. All are subject to diminishing returns, and ultimately negative returns.
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How long do politicians have to keep on promising heaven and delivering hell before people catch on and stop getting swept away by rhetoric?
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One of the most fashionable notions of our times is that social problems like poverty and oppression breed wars. Most wars, however, are started by well-fed people with the time on their hands to dream up half-baked ideologies or grandiose ambitions, and to nurse real or imagined grievances.
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To say that 'wealth in America is so unfairly distributed in America,' as Ronald Dworkin does, is grossly misleading when most wealth in the United States is not distributed: at all. People create it, earn it, save it, and spend it.
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The way to get people's votes is to say that all their problems are caused by other people, and that you will stop those other people from giving them trouble. But if you really want to help, then you can tell them the truth and risk losing their votes.
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The black family survived centuries of slavery and generations of Jim Crow, but it has disintegrated in the wake of the liberals' expansion of the welfare state.
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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.
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What 'multiculturalism' boils down to is that you can praise any culture in the world except Western culture - and you cannot blame any culture in the world except Western culture.
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Liberalism is totalitarianism with a human face.
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The government is indeed an institution, but the market is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his own situation and taste.
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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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An e-mail from a reader says that liberals like to take the moral high ground, even though their own moral relativism means that there is no moral high ground.
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What is politically defined as economic planning is the forcible superseding of other people's plans by Government officials.
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As far as party primaries are concerned, both Republican - and Democratic - Party primaries are dominated by the most zealous voters, whose views may not reflect the views of most members of their own respective parties, much less the views of those who are going to vote in the November general election.
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