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.

It is precisely those things which belong to "the people" which have historically been despoiled- wild creatures, the air, and read more

It is precisely those things which belong to "the people" which have historically been despoiled- wild creatures, the air, and waterways being notable examples. This goes to the heart of why property rights are socially important in the first place. Property rights mean self-interested monitors. No owned creatures are in danger of extinction. No owned forests are in danger of being leveled. No one kills the goose that lays the golden egg when it is his goose.

No matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: "But what would read more

No matter how disastrously some policy has turned out, anyone who criticizes it can expect to hear: "But what would you replace it with?" When you put out a fire, what do you replace it with?

Much of the self-righteous nonsense that abounds on so many subjects cannot stand up to three questions: (1) Compared to read more

Much of the self-righteous nonsense that abounds on so many subjects cannot stand up to three questions: (1) Compared to what? (2) At what cost? and (3) What are the hard facts?

The most basic inherent constraint is that neither time nor wisdom are free goods available in unlimited quantity. This means read more

The most basic inherent constraint is that neither time nor wisdom are free goods available in unlimited quantity. This means that in social processes, as in economic processes, it is not only impossible to attain perfection but irrational to seek perfection- or even to seek the "best possible" result in each separate instance.