Quotes used By Thomas Sowell in Basic Economics

A list that will grow as I work my way through this tome.

“It seems to me that at this time we need education in the obvious more than the investigation of the obscure.”

– Oliver Wendell Holmes, Jr.

“A man is usually more careful of his money than of his principles.”

– Oliver Wendell Holmes, Jr. (ok 1 exception to the title)

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”

– John Adams, ‘Argument in Defense of the Soldiers in the Boston Massacre Trials,’ December 1770 (used in describing incentive based economics vs goal based economics w/ a focus on price controls)

But it is precisely this sole regulator that the utopia[n]… wishes to abolish. And if we then ask what guarantee we have that necessary quantity and not more of each product will be produced, that we shall not go hungry in regard to corn and meat while we are choked in beet sugar and drowned in potato spirit, that we shall not lack trousers to cover our nakedness while trouser buttons flood us by the million [the utopian] triumphantly shows us his splendid calculation, according to which the correct certificate has been handed out for every superfluous pound of sugar, for every unsold barrel of spirit, for every unusable trouser button, a calculation which “works out” exactly

– Friedrich Engels, father of communism

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