Archive for the ‘Thomas Sowell’ Category

Thomas Sowell, senior fellow of the Hoover Institution, argues that the Affordable Care Act (Obamacare) is just an old program:

An Old ‘New’ Program

What is older than the idea that some exalted elite know what is good for us better than we know ourselves?

Insurance is an institution for dealing with risks. It is a costly and counterproductive way to pay for things that are not risks […]¬†Your annual checkup does not cost any less because it is covered by insurance.

Sowell also points out that Obamacare was initially supported by the idea to help the minority of people lacking health insurance. But instead of directly helping those people, the new health care policy now affects everyone.

Since there has never been a society of human beings without at least some segment with some problem, this is a formula for a never-ending expansion of government power.

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Thomas Sowell, senior fellow at the Hoover Institution, on the use of words in politics:

Words That Replace Thought

At neither end of the income scale is a “fair share” defined as a particular number or proportion, or in any other concrete way. It is just a political synonym for “more,” dressed up in moralistic-sounding rhetoric.

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It is often said that the welfare state would work in theory but fails in practice. Here is Thomas Sowell‘s response:

You mean separating the hopes from the reality.

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Words are probably the most important tools that politicians can use. Indeed, rhetoric is far more important in becoming a ‘successful’ politician than actual knowledge. More than a year ago, I found this wonderful sentence that ‘style often outweighs substance’ in political debates. It is basically a summary of decades of failed political crusades.

Thomas Sowell has followed and commentated on these crusades. He describes the sharp difference between words and realities in one of his articles on blacks and the housing market:

Misleading Words

It was one of the most valuable lessons, that words do not necessarily reflect reality.

Now the statistics tell us, belatedly, that blacks lost out, big time, from this “favor” done for them by politicians.

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The other day I came across yet another great quote by Thomas Sowell:

I don’t want people making decisions who don’t pay the price of their decisions. And that’s what politics is all about: you don’t pay the price of the decisions.

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For Uncommon Knowledge, Peter Robinson and economist Thomas Sowell discuss the nexus between culture and economic outcomes. The discussion is based on Sowell’s latest book “Intellectuals and Race”.

Multiculturalism is an insistence that the particular cultures found among less fortunate groups are not to be blamed for disparities in income, education, or crime rates but are on net positive.

This quotation reminds me of another sentence by Thomas Sowell that I posted about a year ago (link):

Although intellectuals pay a lot of attention to inequality among different groups, seldom has this attention been directed toward how the less economically successful might improve themselves by availing themselves of the culture of others around them.

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Dr. Thomas Sowell describes how private enterprises invest in politicians and why that leads to mutual benefits at the taxpayer’s cost:

An industry like the sugar industry can contribute money to Congress and the Congress will appropriate enough money to the sugar industry in subsidies to pay them back a thousand dollars on every dollar. And you cannot get that kind of return on your investment in many places.

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