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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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Ideas are everywhere, but knowledge is rare.
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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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People who pride themselves on their complexity and deride others for being simplistic should realize that the truth is often not very complicated. What gets complex is evading the truth.
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Over the generations, black leaders have ranged from noble souls to shameless charlatans.
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Fairness' is one of the great mantras of the left. Since everyone has his own definition of fairness, that word is a blank check for the expansion of government power. What fairness means in practice is that third parties -- busybodies -- can prevent mutual accommodations by others.
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Even when black youth gangs target white strangers on the streets and spew out racial hatred as they batter them and rob them, mayors, police chiefs and the media tiptoe around their racism and many in the media either don't cover these stories or leave out the race and racism involved.
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The more adaptability exists for a given kind of decision, the less risky it is to make plans for the future, and therefore the more likely it is that more people will make more plans in such areas.
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No society ever thrived because it had a large and growing class of parasites living off those who produce.
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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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The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
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