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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.
Thomas Sowell
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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Price
Nobody
Movement
Economy
Understand
Order
Coordinated
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Movements
More quotes by Thomas Sowell
The fact that the market is not doing what we wish it would do is no reason to automatically assume that the government would do better.
Thomas Sowell
You may have the right to live anyway you like, but you don't have a right to have other people like it. Respect it or pay for it.
Thomas Sowell
One of the most important skills for political success is the ability to make confident assertions of absurdities or lies.
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Intellect is not wisdom.
Thomas Sowell
What then is the intellectual advantage of civilization over primitive savagery? It is not necessarily that each civilized man has more knowledge but that he requires far less.
Thomas Sowell
All too often, we do smart things only after exhausting every conceivable dumb thing we could have done.
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Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can be too moral.
Thomas Sowell
Love is a four-letter word, but you don't hear in nearly as often as you hear some other four-letter words. It may be a sign of our times that everyone talks openly about sex, but we seem to be embarrassed to talk about love.
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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The greatest danger to the liberal vision are facts about the consequences of liberalism itself and the laws, policies, and ways of life that the left has spawned. That the black family, which survived centuries of slavery and generations of discrimination, has disintegrated in the wake of the liberal welfare states is only one example.
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The law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
Thomas Sowell
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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The charge is often made against the intelligentsia and other members of the anointed that their theories and the policies based on them lack common sense. But the very commonness of common sense makes it unlikely to have any appeal to the anointed. How can they be wiser and nobler than everyone else while agreeing with everyone else?
Thomas Sowell
The old adage about giving a man a fish versus teaching him how to fish has been updated by a reader: Give a man a fish and he will ask for tartar sauce and French fries! Moreover, some politician who wants his vote will declare all these things to be among his 'basic rights.'
Thomas Sowell
The most politically painless way to hand out goodies, without taking responsibility for their costs, is to pass a law saying that somebody else must provide those goodies at their expense, while the politicians take credit for generosity and compassion.
Thomas Sowell
If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.
Thomas Sowell
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.
Thomas Sowell
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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Don't you get tired of seeing so many non-conformists with the same non-conformist look?
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Barack Obama's vision of America is one in which a President of the United States can fire the head of General Motors, tell banks how to bank, control the medical system and take charge of all sorts of other activities for which neither he nor other politicians have any expertise or experience.
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