Prices are important not because money is considered paramount but because prices are a fast and effective conveyor of information through a vast society in which fragmented knowledge must be coordinated.

Quote by Thomas Sowell

Topics: Thomas Sowell Quotes

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...

The most fundamental fact about the ideas of the political left is that they do...

The most fundamental fact about the ideas of the political left is that they do...

The next time some academics tell you how important diversity is, ask how many Republicans...

The next time some academics tell you how important diversity is, ask how many Republicans...

One of the consequences of such notions as entitlements is that people who have contributed...

One of the consequences of such notions as entitlements is that people who have contributed...

Stopping illegal immigration would mean that wages would have to rise to a level where...

Stopping illegal immigration would mean that wages would have to rise to a level where...

Socialism in general has a record of failure so blatant that only an intellectual could...

Socialism in general has a record of failure so blatant that only an intellectual could...

Mystical references to society and its programs to help may warm the hearts of the...

Mystical references to society and its programs to help may warm the hearts of the...

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...

People who enjoy meetings should not be in charge of anything.

People who enjoy meetings should not be in charge of anything.

One of the sad signs of our times is that we have demonized those who...

One of the sad signs of our times is that we have demonized those who...

Liberals seem to assume that, if you don't believe in their particular political solutions, then...

Liberals seem to assume that, if you don't believe in their particular political solutions, then...

Talkers are usually more articulate than doers, since talk is their specialty.

Talkers are usually more articulate than doers, since talk is their specialty.

If we spend our time with regrets over yesterday, and worries over what might happen...

If we spend our time with regrets over yesterday, and worries over what might happen...

It is amazing how many of those who consider themselves thinking people respond automatically to...

It is amazing how many of those who consider themselves thinking people respond automatically to...

People used to say, Ignorance is no excuse. Today, ignorance is no problem. After all,...

People used to say, Ignorance is no excuse. Today, ignorance is no problem. After all,...

Talkers are usually more articulate than doers, since talk is their specialty.

Talkers are usually more articulate than doers, since talk is their specialty.

Capitalism knows only one color: that color is green; all else is necessarily subservient to...

Capitalism knows only one color: that color is green; all else is necessarily subservient to...

Someone once said that a fool can put on his coat better than a wise...

Someone once said that a fool can put on his coat better than a wise...

The possessions of the rich are stolen property.

The possessions of the rich are stolen property.

Capitalism is the legitimate racket of the ruling class

Capitalism is the legitimate racket of the ruling class

Poor and content is rich, and rich enough.

Poor and content is rich, and rich enough.

Prosperity is something the businessmen created for politicians to take credit for

Prosperity is something the businessmen created for politicians to take credit for

It is amazing that people who think we cannot afford to pay for doctors, hospitals,...

It is amazing that people who think we cannot afford to pay for doctors, hospitals,...