Thomas Sowell

Various kinds of ideas can be classified by their relationship to the authentication process. There are ideas systematically prepared for read more

Various kinds of ideas can be classified by their relationship to the authentication process. There are ideas systematically prepared for authentication ("theories"), ideas not derived from any systematic process ("visions"), ideas which could not survive any reasonable authentication process ("illusions"), ideas which exempt themselves from any authentication process ("myths"), ideas which have already passed authentication processes ("facts"), as well as ideas known to have failed- or certain to fail- such processes ("falsehoods" - both mistakes and lies).

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.

Liberals seem to assume that, if you don't believe in their particular political solutions, then you don't really care about read more

Liberals seem to assume that, if you don't believe in their particular political solutions, then you don't really care about the people that they claim to want to help

Leaving prices out of the picture is probably the source of more fallacies in economics than any other single misconception.

Leaving prices out of the picture is probably the source of more fallacies in economics than any other single misconception.

Neither "property" nor the value of property is a physical thing. Property is a set of defined options...It is that read more

Neither "property" nor the value of property is a physical thing. Property is a set of defined options...It is that set of options which has economic value...It is the options, and not the physical things, which are the "property" - economically as well as legally...But because the public tends to think of property as tangible, physical things, this opens the way politically for government confiscation of property by forcibly taking away options while leaving the physical objects untouched.