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.

To those who feel that their values are the values, the less controlled systems necessarily present a spectacle of "chaos," read more

To those who feel that their values are the values, the less controlled systems necessarily present a spectacle of "chaos," simply because such systems respond to a diversity of values. The more successfully such systems respond to diversity, the more "chaos" there will be, by definition, according to the standards of any specific set of values- other than diversity or freedom as values. Looked at another way, the more self-righteous observers there are, the more chaos (and "waste") will be seen.

"What freedom does a starving man have?" The answer is that starvation is a tragic human condition- perhaps more tragic read more

"What freedom does a starving man have?" The answer is that starvation is a tragic human condition- perhaps more tragic than loss of freedom. That does not prevent these from being two different things.

The demands of unbounded individualism need to be weighed in the light of inherent social constraints which can only change read more

The demands of unbounded individualism need to be weighed in the light of inherent social constraints which can only change their form but cannot be eliminated without eliminating civilization.

The black family survived centuries of slavery and generations of Jim Crow, but it has disintegrated in the wake of read more

The black family survived centuries of slavery and generations of Jim Crow, but it has disintegrated in the wake of the liberals' expansion of the welfare state.