Wealth, Poverty, and Politics [ Thomas Sowell, Economist & Author]

Thomas Sowell the African American economist who is also a senior fellow at the Hoover Institution. Here are some of his more famous quotes on economic issues.

• “Rhetoric is no substitute for reality.”

“Intellect is not wisdom.” “Some of the biggest cases of mistaken identity are among intellectuals who have trouble remembering that they are not God.”

• Despite a voluminous and often fervent literature on “income distribution” the cold fact is that most income is not distributed: It is earned.

“There are only two ways of telling the complete truth anonymously and posthumously.”

When you want to help people, tell them the truth. When you want to help yourself tell them what they want to hear. -Thomas Sowell

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

• It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.

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