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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
More quotes by Thomas Sowell
Given that some social processes must convey inherent constraints, the choice is among various mixtures of persuasion, force, and cultural inducement. The less of one, the more of the others. The degree of freedom that is possible is therefore tied to the extent to which people respond to persuasion or inducement.
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You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth - and that future wealth is less likely to be produced when people see that it is going to be confiscated.
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Much of the world today, including the United States, is still living in the social, cultural, and political aftermath of Britain's cultural achievements, its industrial revolution, its government of checks and balances, and its conquests around the world.
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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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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.
Thomas Sowell
Our economic problems worry me much less than our political solutions, which have a far worse track record.
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If we spend our time with regrets over yesterday, and worries over what might happen tomorrow, we have no today in which to live.
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The more people who are dependent on government handouts, the more votes the left can depend on for an ever-expanding welfare state.
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A passionate commitment to social justice is no substitute for knowing what the hell you're talking about.
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When all is said and done, the Constitution of the United States is a set of words on a piece of paper. The only way that the Constitution can protect us is if we protect the Constitution.
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One of the beauties of an economy coordinated by price movements is that nobody has to understand it in order for it to work.
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Those government officials who want more power are not going to stop unless they get stopped.
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The idea that money is corrupting innocent politicians would be laughable if it did not lead to such dangerous legislation.
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The minimum wage law very cleverly is misnamed. The real minimum wage is zero. That is what many inexperienced and low skilled people receive as a result of legislation that makes it illegal to pay them what they are currently worth to an employer.
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Someone once said that the most important knowledge is knowledge of our own ignorance. Our schools are depriving millions of students of that kind of knowledge by promoting self-esteem and encouraging them to have opinions on things of which they are grossly ignorant, if not misinformed.
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Creating whole departments of ethnic, gender, and other 'studies' was part of the price of academic peace. All too often, these 'studies' are about propaganda rather than serious education.
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It doesn't matter how smart you are unless you stop and think.
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I suspect that even most conservatives would prefer to live in the kind of world conjured up in the liberals' imagination rather than in the kind of world we are in fact stuck with.
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Deception is one of the quickest ways to gain little things and lose big things.
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The biggest myth about labor unions is that unions are for the workers. Unions are for unions, just as corporations are for corporations and politicians are for politicians.
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