Quotessence
Home / Quotes / Quote by Thomas Sowell

Quote by Thomas Sowell

“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.”

Quote by Thomas Sowell

Create image

Author

Thomas Sowell
Thomas Sowell

Thomas Sowell is a renowned economist, born on June 30, 1930. His research spans across various fields such as economic policy, race, and social issues, having a profound impact on economics and the social sciences. more

You May Also Like

“People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In this situation, for the intelligentsia to impose their notions on ordinary people is essentially to impose ignorance on knowledge.”

PeoplePersonsTogetherSituationLibertyEconomicIgnoranceOrdinaryEconomicsNotionAverageOrdinary PeopleAverage PersonMore Knowledge
Author:Thomas Sowell
Create image

“Three-fifths to two-thirds of the federal budget consists of taking property from one American and giving it to another. Were a private person to do the same thing, we'd call it theft. When government does it, we euphemistically call it income redistribution, but that's exactly what thieves do - redistribute income. Income redistribution not only betrays the founders' vision, it's a sin in the eyes of God.”

GivingPersonsDoeTwoGovernmentEyeThreeSinLibertyVisionEconomicEconomicsThirdsPropertyIncomeBudgetsBetrayThievesFoundersTheftIncome Redistribution
Author:Walter E. Williams
Create image

“Government is necessary, but the only rights we can delegate to government are the ones we possess. For example, we all have a natural right to defend ourselves against predators. Since we possess that right, we can delegate authority to government to defend us. By contrast, we don't have a natural right to take the property of one person to give to another; therefore, we cannot legitimately delegate such authority to government.”

GivingPersonsGovernmentNaturalLibertyRightsEconomicExampleAuthorityEconomicsPropertyContrastPredatorDelegates
Author:Walter E. Williams
Create image

“The true test of one's commitment to liberty and private property rights doesn't come when we permit people to be free to do those voluntary things with which we agree. The true test comes when we permit people to be free to do those voluntary things with which we disagree.”

PeopleLibertyRightsEconomicCommitmentEconomicsTestsAgreePropertyPermitDisagreePrivate PropertyProperty Rights
Book:More Liberty Means Less Government: Our Founders Knew This Well
Create image

“Communism and socialism is [sic] seductive. It promises us that people will contribute according to ability and receive according to needs. Everybody is equal. Everybody has a right to decent housing, decent food and affordable medical care. History should have taught us that when we hear people talk this stuff - watch out!”

PeopleNeedsShouldCareStuffAbilityLibertyWatchesEconomicTaughtPromiseEqualEconomicsShould HaveEqualityMedicalSocialismCommunismDecentHousingAffordableSeductiveTaught UsMedical CareCommunism And Socialism
Author:Walter E. Williams
Create image

“Try this thought experiment. Pretend you're a tyrant. Among your many liberty-destroying objectives are extermination of blacks, Jews and Catholics. Which would you prefer, a United States with political power centralized in Washington, powerful government agencies with detailed information on Americans and compliant states or power widely dispersed over 50 states, thousands of local jurisdictions and a limited federal government?”

TryingStatesGovernmentPoliticalUnitedPowerfulLibertyUnited StatesEconomicInformationEconomicsCatholicJewExperimentsTyrannyLocalsObjectivesAgencyDestroyingTyrantsFederal GovernmentPolitical PowerExterminationJurisdictionOver 50Government AgenciesPowerful Government
Author:Walter E. Williams
Create image