Thomas Sowell Quotes

Thomas Sowell Quote, Financial institutions are not being bailed out as a favor to them
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Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.

Thomas Sowell

Thomas Sowell Quote, Sellers in general maintain the quality of their products and services for
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Sellers in general maintain the quality of their products and services for fear of losing customers otherwise. But, when price controls create a situation where the amount demanded is greater than the amount supplied - a shortage - fear of losing customers is no longer as strong an incentive. For example, landlords typically reduce painting and repairs when there is rent control, because there is no need to fear vacancies when there are more tenants looking for apartments than there are apartments available.

Thomas Sowell

Thomas Sowell Quote, What sense would it make to classify a man as handicapped because
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What sense would it make to classify a man as handicapped because he is in a wheelchair today, if he is expected to be walking again in a month, and competing in track meets before the year is out? Yet Americans are generally given 'class' labels on the basis of their transient location in the income stream. If most Americans do not stay in the same broad income bracket for even a decade, their repeatedly changing 'class' makes class itself a nebulous concept. Yet the intelligentsia are habituated, if not addicted, to seeing the world in class terms.

Thomas Sowell

Thomas Sowell Quote, In its pursuit of justice for a segment of society, in disregard
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In its pursuit of justice for a segment of society, in disregard of the consequences for society as a whole, what is called 'social justice' might more accurately be called anti-social justice, since what consistently gets ignored or dismissed are precisely the costs to society. Such a conception of justice seeks to correct, not only biased or discriminatory acts by individuals or by social institutions, but unmerited disadvantages in general, from whatever source they may arise.

Thomas Sowell

Thomas Sowell Quote, Most Americans living below the official poverty line own a car or
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Most Americans living below the official poverty line own a car or truck - and government entitlement programs seldom provide cars and trucks. Most people living below the official poverty line also have air condition, color television and a microwave oven - and these too are not usually handed out by government entitlement programs. Cell phone and other electronic devices are by no means unheard of in low-income neighborhoods, where children would supposedly go hungry if there were no school lunch programs. In reality, low-income people are overweight even more often than other Americans.

Thomas Sowell