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The economic disasters of socialism and communism come from assuming a blanket superiority of those who want to run a whole economy.

Thomas Sowell

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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Whole
Communism
Socialism
Assuming
Disaster
Economy
Economic
Disasters
Running
Blanket
Come
Superiority

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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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The first rule of economics is that there is an infinite number of desires chasing a finite number of goods, services and resources. The first rule of politics is to ignore the first rule of economics.
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Anyone who has actually had to take responsibility for consequences by running any kind of enterprise whether economic or academic, or even just managing a sports team is likely at some point to be chastened by either the setbacks brought on by his own mistakes or by seeing his successes followed by negative consequences that he never anticipated.
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Those who wrote the Constitution clearly understood that power is dangerous and needs to be limited by being separated - separated not only into the three branches of the national government but also separated as between the whole national government, on the one hand, and the states and the people on the other.
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