Maxioms by Thomas Sowell
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.
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.
The most basic question is not what is best but who shall decide what is best.
The most basic question is not what is best but who shall decide what is best.
Both free speech rights and property rights belong legally to individuals, but their real function is social, to benefit vast read more
Both free speech rights and property rights belong legally to individuals, but their real function is social, to benefit vast numbers of people who do not themselves exercise these rights.
...each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it read more
...each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.
