"Unfortunately, the real minimum wage is always zero, regardless of the laws, and that is the wage that many workers receive in the wake of the creation or escalation of a government-mandated minimum w..."
- Thomas Sowell
"Racism does not have a good track record. It's been tried out for a long time and you'd think by now we'd want to put an end to it instead of putting it under new management. "
"It would be very heard, for example, a basketball owner, no matter how racist he was, to try to operate without Blacks. It would be suicidal."
"Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to..."
"Everyone may be called "comrade," but some comrades have the power of life and death over other comrades."
"What then is the intellectual advantage of civilization over primitive savagery? It is not necessarily that each civilized man has more knowledge but that he requires far less."
"The government is indeed an institution, but "the market" is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his..."
"When I was an undergraduate studying economics under Professor Arthur Smithies of Harvard, he asked me in class one day what policy I favored on a particular issue of the times. Since I had strong fee..."
"Misconceptions of business are almost inevitable in a society where most people have neither studied nor run businesses. In a society where most people are employees and consumers, it is easy to think..."
"lthough the basic principles of economics are not very complicated, the very ease with which they can be learned also makes them easy to dismissed as "simplistic" by those who do not want to accept an..."