Thomas Sowell

Unbounded morality ultimately becomes counterproductive even in terms of the same moral principles being sought. The law of diminishing returns read more

Unbounded morality ultimately becomes counterproductive even in terms of the same moral principles being sought. The law of diminishing returns applies to morality.

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.

The principles applied in economic processes are general social principles.

The principles applied in economic processes are general social principles.

It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions read more

It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.