Thomas Sowell

Since man does not create physical matter, those who handle material objects in the production process are not producers in read more

Since man does not create physical matter, those who handle material objects in the production process are not producers in that sense. Economic benefits result from the transformation of matter in form, location, or availability (intellectually or temporally). It is these transformations that create economic benefits valued by consumers, and whoever arranges such transformations contributes to the value of things, whether his hands actually come into contact with physical objects or not.

The more adaptability exists for a given kind of decision, the less risky it is to make plans for the read more

The more adaptability exists for a given kind of decision, the less risky it is to make plans for the future, and therefore the more likely it is that more people will make more plans in such areas.

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility read more

American prosperity and American free enterprise are both highly unusual in the world, and we should not overlook the possibility that the two are connected.

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually read more

The desire of businessmen for profits is what drives prices down unless forcibly prevented from engaging in price competition, usually by governmental activity.

Much of the social history of the Western world, over the past three decades, has been a history of replacing read more

Much of the social history of the Western world, over the past three decades, has been a history of replacing what has worked with what sounded good. In area after area- crime, education, housing, race relations- the situation has gotten worse after the bright new theories were put into operation. The amazing thing is that this history of failure and disaster has neither discouraged the social engineers nor discredited them.