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Many economic fallacies depend upon (1) thinking of the economy as a set of zero-sum transactions, (2) ignoring the role of competition in the marketplace, or (3) not thinking beyond the initial consequences of particular policies.

— Thomas Sowell

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Finance

More quotes by Thomas Sowell

Freedom has cost too much blood and agony to be relinquished at the cheap price of rhetoric.

Knowledge and Decisions (1980)

If there is one thing that is bipartisan in Washington, it is brazen hypocrisy.

Ideas are everywhere, but knowledge is rare.

Knowledge and Decisions (1980)

The fact that so many successful politicians are such shameless liars is not only a reflection on them, it is also a reflection on us. When the people want the impossible, only liars can satisfy.

Racism has never done this country any good, and it needs to be fought against, not put under new management for different groups.

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We must do away with the absolutely specious notion that everybody has to earn a living.

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Economics is on the side of humanity now.

Isaac Asimov Empire novels (1950)

Since the state must necessarily provide subsistence for the criminal poor while undergoing punishment, not to do the same for the poor who have not offended is to give a premium on crime.

John Stuart Mill Principles of Political Economy (1848)

Economy, in the estimation of common minds, often means the absence of all taste and comfort.

Sydney Smith Lady Holland's Memoir (1855)

Attribution

Quote text and notes from Wikiquote: Thomas Sowell (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.