Thomas Sowell Daily
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Spreading the wisdom of economist & author Thomas Sowell 🗽 Fan account 🔥 Follow: @MiltonFriedmanW and @FAHayekSays. Subscribe to support my work.
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Thomas Sowell on Barack Obama: “I see him as someone who all his life has been associated with people who fundamentally don’t believe in the principles of this country.” “He always sought out the most radical people. He worked as a ‘community organizer.’ He doesn’t organize a community. He’s mobilizing all the resentments, organizing them in order to put them into battle to get what they want from other people.”
Thomas Sowell Daily1,064,948 Aufrufe • vor 5 Monaten
Thomas Sowell on the truth about the Great Depression: “There’s this narrative out there that the reason we had mass unemployment in the 1930s was because the market failed.” “It so happens that for the 12 months following the stock market crash, we never hit double digits of unemployment. Unemployment peaked at 9 percent two months after the crash and started going down.” “The unemployment rate was down to 6.3 percent when the federal government figured it had to intervene. And that’s when the downward movement reversed and we never saw 6.3 percent again for the next decade.” “It’s clear as crystal that the disaster came after federal intervention.”
Thomas Sowell Daily435,612 Aufrufe • vor 3 Monaten
Thomas Sowell on engineers vs intellectuals: “The engineer is judged by the end product. If he builds a building that collapses, it doesn’t matter how brilliant his idea was—he’s ruined.” “Conversely, if an intellectual has an idea for rearranging society and that ends in disaster, he pays no price at all.”
Thomas Sowell Daily407,000 Aufrufe • vor 4 Monaten
🚨 Thomas Sowell debunks the Great Depression’s most entrenched myth “There’s this narrative out there that the reason we had mass unemployment in the 1930s was because the market failed. It so happens that for the 12 months following the stock market crash, we never hit double digits of unemployment.” “Unemployment peaked at 9 percent two months after the crash and started going down. The unemployment rate was down to 6.3 percent when the federal government figured it had to intervene.” “And that’s when the downward movement reversed and we never saw 6.3 percent again for the next decade. It’s clear as crystal that the disaster came after federal intervention.”
Thomas Sowell Daily405,670 Aufrufe • vor 5 Monaten
Thomas Sowell on what’s wrong with education today: “Too many students are introduced to a certain vision of the world—for example, the capitalists are exploiting the workers.” “They just memorize that, and they talk about it as if it’s a known fact. There’s no developing in those students the ability to look at two different views and try to figure out which is correct.”
Thomas Sowell Daily167,350 Aufrufe • vor 2 Monaten
Thomas Sowell on how he taught students: “I’d spend a great deal of time putting together a reading list, where I’d find the strongest argument on one side and then the best example of the opposing view.” “I didn’t test students on which side they believed. I tested them on whether they understood the arguments on both sides.”
Thomas Sowell Daily36,312 Aufrufe • vor 13 Tagen
![Thomas Sowell on the Clintons and Barack Obama: “The Clintons had the saving grace of utter lack of principle—when they saw which way the political wind was blowing, that’s the way they’d go, regardless of what they’d been saying before.” “[Obama] has been a far-left ideologue for twenty years... I think this man really does believe that he can change the world; people like that are infinitely more dangerous than mere crooked politicians.”](https://image.24vids.com/tw-2083899616630841536/amplify_video_thumb/2083803786011951104/img/0H5TMr6iLZYlcEsU.jpg)
Thomas Sowell on the Clintons and Barack Obama: “The Clintons had the saving grace of utter lack of principle—when they saw which way the political wind was blowing, that’s the way they’d go, regardless of what they’d been saying before.” “[Obama] has been a far-left ideologue for twenty years... I think this man really does believe that he can change the world; people like that are infinitely more dangerous than mere crooked politicians.”
Thomas Sowell Daily92,353 Aufrufe • vor 1 Monat
Thomas Sowell on engineers vs intellectuals: “The engineer is judged by the end product: if he builds a building that collapses, he’s ruined.” “Conversely, if an intellectual who is brilliant has an idea for rearranging society and it ends in disaster, he pays no price at all.”
Thomas Sowell Daily163,300 Aufrufe • vor 5 Monaten
Thomas Sowell on why the gender pay gap can be misleading: “I found out that young female doctors made much less money than young male doctors. That seemed very odd.” “But when you look into it, you discover that young male doctors work an average of 500 hours a year more than young female doctors, and they get paid for the 500 hours.” “There’s no reason why the women and men should be doing the same thing. Their circumstances are different.”
Thomas Sowell Daily24,029 Aufrufe • vor 22 Tagen
Thomas Sowell remained a Marxist well into his twenties, even after studying economics at the University of Chicago under Milton Friedman. What changed his mind was his experience working for the Department of Labor in 1960. While studying Puerto Rico’s sugar industry, Sowell found that unemployment was rising as federally mandated minimum wages increased. He expected government officials to share his interest in whether the minimum wage law was actually helping workers. Instead, he discovered that they were more concerned with preserving the law because it provided roughly a third of the department’s funding. That experience fundamentally changed Sowell’s view of government. He realized that public officials, like everyone else, have their own self-interest and that they may preserve programs that benefit them regardless of the effects on those the programs are meant to help.
Thomas Sowell Daily30,295 Aufrufe • vor 1 Monat
Thomas Sowell: “The Soviet Union was one of the most richly supplied countries with natural resources—and probably the most richly supplied.” “The irony is, one of the world’s great famines occurred in the Soviet Union ... Milton Friedman once said that if the government took over the Sahara Desert, there’d be a shortage of sand. The Soviet Union was just that way.”
Thomas Sowell Daily85,795 Aufrufe • vor 3 Monaten
Thomas Sowell on why it is prosperity, not poverty, that needs explaining: “There’s no explanation needed for poverty—the species began in poverty. What you really need to know is what are the things that enable some countries and some groups within countries to become prosperous.”
Thomas Sowell Daily10,090 Aufrufe • vor 10 Tagen
Thomas Sowell: “The Soviet Union was one of the most richly supplied countries with natural resources—and probably the most richly supplied.” “The irony is, one of the world’s great famines occurred in the Soviet Union... Milton Friedman once said that if the government took over the Sahara Desert, there’d be a shortage of sand. The Soviet Union was just that way.”
Thomas Sowell Daily36,265 Aufrufe • vor 1 Monat
Thomas Sowell: “The question is not whether people on welfare or on low incomes can all spend their money effectively.” “The question is: how effectively do they spend it as compared to how effectively the bureaucrats spend it for them? Comparing anything to perfection or to some arbitrary standard settles nothing.” “The same thing is true in the education area. Would families be able to select schools for their kids under a voucher system? The question is, could they possibly do much worse than the current bureaucrats are doing in the public school system?”
Thomas Sowell Daily13,702 Aufrufe • vor 16 Tagen