Thomas Sowell

Knowledge can be enormously costly, and is often scattered in widely uneven fragments, too small to be individually usable in read more

Knowledge can be enormously costly, and is often scattered in widely uneven fragments, too small to be individually usable in decision making. The communication and coordination of these scattered fragments of knowledge is one of the basic problems- perhaps the basic problem- of any society.

Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can read more

Morality, like other inputs into the social process, follows the law of diminishing returns- meaning ultimately, negative returns. People can be too moral.

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. read more

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.

Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.The read more

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it.The first lesson of politics is to disregard the first lesson of economics.