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Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.
Thomas Sowell
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Any politician who starts shouting election-year demagoguery about the rich and the poor should be asked, "What about the other 90 percent of the people?"
Thomas Sowell
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ANYONE who studies the history of ideas should notice how much more often people on the political left, more so than others, denigrate and demonize those who disagree with them - instead of answering their arguments.
Thomas Sowell
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Because many of us make mistakes that can have bad consequences, some intellectuals believe that it is the role of government to intervene and make some of our decisions for us. From what galaxy government is going to hire creatures who do not make mistakes is a question they leave unanswered.
Thomas Sowell
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In medicine, it has long been recognized that even a quack remedy that is harmless in itself can be fatal when it substitutes for an effective medication or treatment. The time is overdue for that same recognition to apply to politics.
Thomas Sowell
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As far as party primaries are concerned, both Republican - and Democratic - Party primaries are dominated by the most zealous voters, whose views may not reflect the views of most members of their own respective parties, much less the views of those who are going to vote in the November general election.
Thomas Sowell
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Let's face it, most of us are not half as smart as we may sometimes think we are-- and for intellectuals, not one-tenth as smart.
Thomas Sowell
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A recent poll showed that nearly half the American public believes that the government should redistribute wealth. That so many people are so willing to blithely put such an enormous and dangerous arbitrary power in the hands of politicians-\-\risking their own freedom, in hopes of getting what someone else has-\-\is a painful sign of how far many citizens and voters fall short of what is needed to preserve a democratic republic
Thomas Sowell
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It may be expecting too much to expect most intellectuals to have common sense, when their whole life is based on their being uncommon -- that is, saying things that are different from what everyone else is saying. There is only so much genuine originality in anyone. After that, being uncommon means indulging in pointless eccentricities or clever attempts to mock or shock.
Thomas Sowell
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It is amazing how many of the intelligentsia call it "greed" to want to keep what you have earned, but not greed to want to take away what somebody else has earned, and let politicians use it to buy votes.
Thomas Sowell
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Stupid people can cause problems, but it usually takes brilliant people to create a real catastrophe.
Thomas Sowell
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There are no solutions; there are only trade-offs.
Thomas Sowell
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The growing complexity of science, technology, and organization does not imply either a growing knowledge or a growing need for knowledge in the general population. On the contrary, the increasingly complex processes tend to lead to increasingly simple and easily understood products. The genius of mass production is precisely in its making more products more accessible, both economically and intellectually to more people.
Thomas Sowell
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We are... living in a free society without the faith that built that society - and without the conviction and dedication needed to sustain it... We still have the cathedral of freedom but how long will it last without the faith?
Thomas Sowell
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How long do politicians have to keep on promising heaven and delivering hell before people catch on and stop getting swept away by rhetoric?
Thomas Sowell
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Once you buy the argument that some segment of the citizenry should lose their rights, just because they are envied or resented, you are putting your own rights in jeopardy - quite aside from undermining any moral basis for respecting anybody's rights. You are opening the floodgates to arbitrary power. And once you open the floodgates, you can't tell the water where to go.
Thomas Sowell
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The curse of the intelligentsia is their ability to rationalize and re-define. Ordinary people, lacking that gift, are forced to face reality.
Thomas Sowell
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Groups that rose from poverty to prosperity seldom did so by having their own racial or ethnic leaders to follow.
Thomas Sowell
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The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
Thomas Sowell
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The real culprits are those who created a system that makes it dangerous to work and safe to loaf.
Thomas Sowell
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People who think that they are being 'exploited' should ask themselves whether they would be missed if they left, or whether people would say: 'Good riddance?'
Thomas Sowell
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It takes considerable knowledge just to realize the extent of your own ignorance.
Thomas Sowell
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Life has many good things. The problem is that most of these good things can be gotten only by sacrificing other good things. We all recognize this in our daily lives. It is only in politics that this simple, common sense fact is routinely ignored.
Thomas Sowell
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You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth - and that future wealth is less likely to be produced when people see that it is going to be confiscated.
Thomas Sowell
