Thomas Sowell

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?

Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include read more

Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include important decision-making processes, such as the family, but also produce much of the background social capital without which the other major institutions of society could not function nearly as effectively as they do.

People who enjoy meetings should not be in charge of anything.

People who enjoy meetings should not be in charge of anything.

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.

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.