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Government bailouts are like potato chips: You can't stop with just one.

Thomas Sowell

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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Potato
Potatoes
Chips
Stop
Government
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Media bias in editorials and columns is one thing. Media fraud in reporting 'facts' in news stories is something else. ...The issue is not what various journalists or news organizations' editorial views are. The issue is the transformation of news reporting into ideological spin, along with self-serving taboos and outright fraud.
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What is ominous is the ease with which some people go from saying that they don't like something to saying that the government should forbid it. When you go down that road, don't expect freedom to survive very long.
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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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Liberals seem to assume that, if you don't believe in their particular political solutions, then you don't really care about the people that they claim to want to help.
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Just as any moron can destroy a priceless Ming vase, so the shallow and ill-educated people who run our schools can undermine and destroy from within a great civilization that took centuries of dedicated effort to create and maintain.
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Elections should be held on April 16th- the day after we pay our income taxes. That is one of the few things that might discourage politicians from being big spenders.
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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 idealism of the left is a very selfish idealism. In their war against 'the rich' and big business, they don't care how much collateral damage there is to workers who end up end up unemployed.
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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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Racism does not have a good track record. It's been tried out for a long time and you'd think by now we'd want to put an end to it instead of putting it under new management.
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Sports are the reason I am out of shape. I watch them all on TV.
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Since the government creates no wealth, it can only transfer the wealth required to hire people. Even if the government creates a million jobs, that is not a net increase in jobs, when the money that pays for those jobs is taken from the private sector, which loses that much ability to create private jobs.
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Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.
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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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Weighing benefits against costs is the way most people make decisions - and the way most businesses make decisions, if they want to stay in business. Only in government is any benefit, however small, considered to be worth any cost, however large.
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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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For the anointed, traditions are likely to be seen as the dead hand of the past, relics of a less enlightened age, and not as the distilled experience of millions who faced similar human vicissitudes before.
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Some of the biggest cases of mistaken identity are among intellectuals who have trouble remembering that they are not God.
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What is called 'capitalism' might more accurately be called consumerism. It is the consumers who call the tune, and those capitalists who want to remain capitalists have to learn to dance to it.
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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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