Quotessence
Home / Authors / Thomas Sowell
Thomas Sowell

Thomas Sowell Quotes

Economist

Filter quotes by topic

Famous Thomas Sowell Quotes

“One of the most basic and pervasive social processes is the sorting and labeling of things, activities, and people... Sorting and labeling processes involve a trade-off of costs and benefits. In general, the more finely the sorting is done, the greater the benefits - and the costs... Sorting and labeling, whether of people or of things, is a sorting and labeling of probabilities rather than of certainties.”

“Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.”

“It is not the dignitaries who are the real cause of hope, however. What is an enormously refreshing and hopeful sign is to see the young people who make up the membership of the Federalist Society. Earnest, intelligent, and unpretentious, these are the young men and women of whom any nation and any age could be proud.”

“Failure is a big part of a free market's success. People fail to live up to their potential, or to carry out all their good intentions, in all kinds of economic and political systems. Capitalism makes them pay a price for their failures, while socialism, feudalism, fascism and other systems enable personal failures, especially by those at the top, to be ignored.”

“Barack Obama has not only said that he is out to 'change the United States of America,' the people he has been associated with for years have expressed in words and deeds their hostility to the values, the principles and the people of this country.”

“Like other magicians, Obama has chosen his distractions well. The insurance industry is currently his favorite distraction as scapegoats, after he has tried to demonize doctors without much success . . . . Obama even gets away with saying things like having a system to 'keep insurance companies honest' - and many people may not see the painful irony in politicians trying to keep other people honest.”

“People who believe in 'universal health care' show remarkably little interest - usually none - in finding out what that phrase turns out to mean in practice, in those countries where it already exists, such as Britain, Sweden or Canada. For one thing, 'universal health care' in these countries means months of waiting for surgery that Americans get in a matter of weeks or even days.”

“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.”

“In the wake of the housing debacle in California, more people are buying less expensive homes, making bigger down payments, and staying away from 'creative' and risky financing. It is amazing how fast people learn when they are not insulated from the consequences of their decisions.”

“The reason so many people misunderstand so many issues is not that these issues are so complex, but that people do not want a factual or analytical explanation that leaves them emotionally unsatisfied. They want villains to hate and heroes to cheer - and they don't want explanations that do not give them that.”

“The poor are the very lifeblood of the left, attracting activists, supporting among the intelligentsia, and - perhaps most important - allowing the left to indulge in self-congratulation as people who 'care.' But, if they really cared, they would want to know what the facts are and what the actual consequences of their various nostrums are.”

“People who know nothing about advertising, nothing about pharmaceuticals, and nothing about economics have been loudly proclaiming that the drug companies spend too much on advertising - and demanding that the government pass laws based on their ignorance.”

“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.”

“The big divide in this country is not between Democrats and Republicans, or women and men, but between talkers and doers. Think about the things that have improved our lives the most over the past century - medical advances, the transportation revolution, huge increases in consumer goods, dramatic improvements in housing, the computer. The people who created these things - the doers - are not popular heroes. Our heroes are the talkers who complain about the doers.”

“People who thing that they are getting something for nothing, by having government provide what they would otherwise have to buy in the private market, are not only kidding themselves by ignoring the taxes that government has to take from them in order to give them the appearance of something for nothing.”

“Not since the days of the Hitler Youth have young people been subjected to more propaganda on more politically correct issues. At one time, educators boasted that their role was not to teach students what to think but how to think. Today, their role is far too often to teach students what to think on everything from immigration to global warming to the new sacred trinity of 'race, class and gender.'”

“When I was teaching at an institution that bent over backward for foreign students, I was asked in class one day: "What is your policy toward foreign students?" My reply was: "To me, all students are the same. I treat them all the same and hold them all to the same standards." The next semester there was an organized boycott of my classes by foreign students. When people get used to preferential treatment, equal treatment seems like discrimination.”

“What is especially disturbing about the political left is that they seem to have no sense of the tragedy of the human condition. Instead, they tend to see the problems of the world as due to other people not being as wise or as noble as themselves.”