Thomas Sowell Quotes
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People who decry the fact that businesses are in business "just to make money" seldom understand the implications of what they are saying. You make money by doing what other people want, not what you want.
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It is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.
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We need laws written by people who have confronted life in the real world, not in the sheltered world of trust fund recipients of the insulated cocoon of academia.
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Capitalism is not an 'ism.' It is closer to being the opposite of an 'ism,' because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.
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It is truly a triumph of rhetoric over reality when people can believe that going into politics is 'public service,' but that producing food, shelter, transportation, or medical care is not.
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Social values in general are incrementally variable: neither safety, diversity, rational articulation, nor morality is categorically a good thing to have more of, without limits. All are subject to diminishing returns, and ultimately negative returns.
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Both history and contemporary data show that countries prosper more when there are stable and dependable rules, under which people can make investments without having to fear unpredictable new government interventions before these investments can pay off.
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When we hear about rent control or gun control, we may think about rent or guns but the word that really matters is 'control.' That is what the political left is all about, as you can see by the incessant creation of new restrictions in places where they are strongly entrenched in power, such as San Francisco or New York.
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Some people say that taxes are the price we pay for civilization. But the runaway taxes of our time are the price we pay for being gullible.
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If you believe in equal rights, then what do “women’s rights,” “gay rights,” etc., mean? Either they are redundant or they are violations of the principle of equal rights for all.
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Even the Soviet Union, with its huge nuclear arsenal, was a threat that could be deterred by the prospect of retaliation. But suicide bombers cannot be deterred. They can only be annihilated - preemptively and unilaterally, if necessary.
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Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include important decision-making processes, such as the family, but also produce much of the background social capital without which the other major institutions of society could not function nearly as effectively as they do.
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The kinds of people we need in government are precisely the kinds of people who are most reluctant to go into government -- people who understand the inherent dangers of power and feel a distaste for using it, but who may do so for a few years as a civic duty. The worst kind of people to have in government are those who see it as a golden opportunity to impose their own superior wisdom and virtue on others.
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What the political left, even in democratic countries, share is the notion that knowledgeable and virtuous people like themselves have both a right and a duty to use the power of government to impose their superior knowledge and virtue on others.
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Our whole educational system, from the elementary schools to the universities, is increasingly turning out people who have never heard enough conflicting arguments to develop the skills and discipline required to produce a coherent analysis, based on logic and evidence. The implications of having so many people so incapable of confronting opposing arguments with anything besides ad hominem responses reach far.
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We should listen first and foremost to our own experience We should stop looking for saviors.Society has not existed for thousands of years because it had a succession of saviors. It's existed because it has institutions and processes through which people can realize their own goals.
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As long as human beings are imperfect, there will always be arguments for extending the power of government to deal with these imperfections. The only logical stopping place is totalitarianism -- unless we realize that tolerating imperfections is the price of freedom.
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Apparently the only people who are supposed to be responsible are the taxpayers - and they are increasingly made responsible for other people's irresponsibility.
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If the truth is boring, civilization is irksome. The constraints inherent in civilized living are frustrating in innumerable ways. Yet those with the vision of the anointed often see these constraints as only arbitrary impositions, things from which they-and we all-can be 'liberated.' The social disintegration which has followed in the wake of such liberation has seldom provoked any serious reconsideration of the whole set of assumptions-the vision-which led to such disasters. That vision is too well insulated from feedback.
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If you don't believe in the innate unreasonableness of human beings, just try raising children.
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Most Americans living below the official poverty line own a car or truck - and government entitlement programs seldom provide cars and trucks. Most people living below the official poverty line also have air conditioning, color television, and a microwave oven - and these too are not usually handed out by government entitlement programs. Cell phones and other electronic devices are by no means unheard of in low-income neighborhoods, where children would supposedly go hungry if there were no school-lunch programs. In reality, low-income people are overweight more often than other Americans.
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No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.
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I suspect that even most conservatives would prefer to live in the kind of world conjured up in the liberals' imagination rather than in the kind of world we are in fact stuck with.
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Economic policies need to be analyzed in terms of the incentives they create, rather than the hopes that inspired them.