Thomas Sowell

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.

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information read more

Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

Social values in general are incrementally variable: neither safety, diversity, rational articulation, nor morality is categorically a "good thing" to read more

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.

If you have ever seen a four-year-old trying to lord it over a two-year-old, then you know what the basic read more

If you have ever seen a four-year-old trying to lord it over a two-year-old, then you know what the basic problem of human nature is -- and why government keeps growing larger and ever more intrusive.

Knowledge can be enormously costly, and is often scattered in widely uneven fragments, too small to be individually usable in read more

Knowledge can be enormously costly, and is often scattered in widely uneven fragments, too small to be individually usable in decision making. The communication and coordination of these scattered fragments of knowledge is one of the basic problems- perhaps the basic problem- of any society.