Leaving prices out of the picture is probably the source of more fallacies in economics than any other single misconception.

Quote by Thomas Sowell

Topics: Economics Quotes, Legislation Quotes, Politics Quotes

The most basic question is not what is best, but who shall decide what is...

The most basic question is not what is best, but who shall decide what is...

Both free speech rights and property rights belong legally to individuals, but their real function...

Both free speech rights and property rights belong legally to individuals, but their real function...

The problem isn't that Johnny can't read. The problem isn't even that Johnny can't think....

The problem isn't that Johnny can't read. The problem isn't even that Johnny can't think....

The government is neither a monolith nor simply the public interest personified.

The government is neither a monolith nor simply the public interest personified.

The assumption that spending more of the taxpayer's money will make things better has survived...

The assumption that spending more of the taxpayer's money will make things better has survived...

Much of the social history of the Western world, over the past three decades, has...

Much of the social history of the Western world, over the past three decades, has...

Would you bet your paycheck on a weather forecast for tomorrow? If not, then why...

Would you bet your paycheck on a weather forecast for tomorrow? If not, then why...

The real goal should be reduced government spending, rather than balanced budgets achieved by ever...

The real goal should be reduced government spending, rather than balanced budgets achieved by ever...

Liberalism is totalitarianism with a human face.

Liberalism is totalitarianism with a human face.

The big divide in this country is not between Democrats and Republicans, or women and...

The big divide in this country is not between Democrats and Republicans, or women and...

It is hard to imagine a more stupid or more dangerous way of making decisions...

It is hard to imagine a more stupid or more dangerous way of making decisions...

The least productive people are usually the ones who are most in favor of holding...

The least productive people are usually the ones who are most in favor of holding...

Military pay has been allowed to lag behind to the point where career enlisted men...

Military pay has been allowed to lag behind to the point where career enlisted men...

What is ominous is the ease with which some people go from saying that they...

What is ominous is the ease with which some people go from saying that they...

Too much of what is called education is little more than an expensive isolation from...

Too much of what is called education is little more than an expensive isolation from...

If the battle for civilization comes down to the wimps versus the barbarians, the barbarians...

If the battle for civilization comes down to the wimps versus the barbarians, the barbarians...

You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and...

You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and...

If you are not prepared to use force to defend civilization, then be prepared to...

If you are not prepared to use force to defend civilization, then be prepared to...

Facts do not speak for themselves. They speak for or against competing theories. Facts divorced...

Facts do not speak for themselves. They speak for or against competing theories. Facts divorced...

Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.

Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.