The first lesson of economics is scarcity: there is never enough of an…

Thomas Sowell
270 citations
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics. ✨ Thomas Sowell (1993). Is Reality Optional?: And Other Essays, Hoover Inst Press
Politics Truth
19

More Author Quotes

Congressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicia … ▶
The most basic question is not what is best, but who shall decide what is best. ✨ Thomas Sowell (1996). Knowledge And Decisions, p.79, Basic Books
It is hard to read a newspaper or watch a television newscast without encountering someone who has come up with a new 'solution' to society's 'problems.'
Many of the words and phrases used in the media and among academics suggest that things simply: happen: to people, rather than be being caused by their own choices and behavior. Thus there is said to … ▶
People who are very aware that they have more knowledge than the average person are often very unaware that they do not have one-tenth of the knowledge of all of the average persons put together. In … ▶

The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics. ✨ Thomas Sowell (1993). Is Reality Optional?: And Other Essays, Hoover Inst Press

More Author Quotes

Most Cited Authors

The Best Quotes

Most Liked Authors

Curated Author Quotes