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Quote by Thomas Sowell

“Like so many before him who have ruined countries around the world, Obama has a greatly inflated idea of his own capabilities and the capabilities off what can be accomplished by rhetoric or even by political power.”

Quote by Thomas Sowell

Author

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

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“Whatever you subsidize you get more of.”

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“The state is the only institution entitled to apply coercion and compulsion and to inflict harm upon individuals. This tremendous power cannot be abandoned to the discretion of some men, however competent and clever they may deem themselves. It is necessary to restrict its application. This is the task of the laws.”

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“It is the greatest folly of which a man can be capable to sit down with a slate and pencil to plan out a new social world.”

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“Most people are oblivious to F.A. Hayek's insight that the critical information needed to run an economy - or even 15 percent of one - doesn't exist in any one place where it is accessible to central planners. Instead, it is scattered piecemeal among millions of people. All those people put together are far wiser and better informed than Congress could ever be. Only markets - private property, free exchange and the price system - can put this knowledge at the disposal of entrepreneurs and consumers, ensuring the system will serve the people and not just the political class.”

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“Politicians and bureaucrats clearly have no idea how complicated markets are. Every day people make countless tradeoffs, in all areas of life, based on subjective value judgements and personal information as they delicately balance their interests, needs and wants. Who is in a better position than they to tailor those choices to best serve their purposes? Yet the politicians believe they can plan the medical market the way you plan a birthday party.”

“The BBC sports department when I was there was seriously to the right of Ghengis Khan and if people think I am strange they should have met some of the production staff I worked with. Margaret Thatcher and the Queen were the pin up girls for many of them.”

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“Under a socialist mode of production all personal incentives which selfishness provides under capitalism are removed, and a premium is put upon laziness and negligence. Whereas in a capitalist society selfishness incites everyone to the utmost diligence, in a socialist society it makes for inertia and laxity.”

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“Though President Obama was at his smooth and polished best the other night, two aspects of his worldview came into sharper relief - his reflexive hostility toward and misunderstanding of business and his reliable resort to left-wing fables about race relations.”

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Author:Thomas Sowell