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Ego trips by coteries of self-exalting people are treated in the media as idealism, rather than the petty tyranny it is.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Tyranny
Treated
Media
Rather
Exalting
Self
Trips
People
Idealism
Petty
Ego
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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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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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 government officials who want more power are not going to stop unless they get stopped.
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Facts do not speak for themselves. They speak for or against competing theories. Facts divorced from theories or visions are mere isolated curiosities.
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The welfare state is not really about the welfare of the masses. It is about the egos of the elites.
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In this era of political correctness, some people seem unaware that being squeamish about words can mean being blind to realities.
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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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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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The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
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Politics is largely the process of taking credit and putting the blame on others - regardless of what the facts may be.
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Those who want to spread the wealth almost invariably seek to concentrate the power. It happens too often, and in too many different countries around the world, to be a coincidence. Which is more dangerous, inequalities of wealth or concentrations of power?
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Life in general has never been even close to fair, so the pretense that the government can make it fair is a valuable and inexhaustible asset to politicians who want to expand government.
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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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The principles applied in economic processes are general social principles.
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Too many policies, programs and institutions are judged by what they are supposed to do, rather than by what they actually do and the consequences of their actions.
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