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

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...

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...

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 real minimum wage is zero.

The real minimum wage is zero.

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...

Each new generation born is in effect an invasion of civilization by little barbarians, who...

Each new generation born is in effect an invasion of civilization by little barbarians, who...

The first lesson of economics is scarcity: There is never enough of anything to satisfy...

The first lesson of economics is scarcity: There is never enough of anything to satisfy...

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...

What 'multiculturalism' boils down to is that you can praise any culture in the world...

What 'multiculturalism' boils down to is that you can praise any culture in the world...

The welfare state is not really about the welfare of the masses. It is about...

The welfare state is not really about the welfare of the masses. It is about...

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...

Not only does the passage of time produce knowledge, it also produces ignorance... As the...

Not only does the passage of time produce knowledge, it also produces ignorance... As the...

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.

Each new generation born is in effect an invasion of civilization by little barbarians, who...

Each new generation born is in effect an invasion of civilization by little barbarians, who...

Force is the antithesis of freedom, but force must be used, if only to defend...

Force is the antithesis of freedom, but force must be used, if only to defend...

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

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

People who have time on their hands will inevitably waste the time of people who...

People who have time on their hands will inevitably waste the time of people who...

Liberalism is totalitarianism with a human face

Liberalism is totalitarianism with a human face

Liberalism, above all, means emancipation - emancipation from one's fears, his inadequacies, from prejudice, from...

Liberalism, above all, means emancipation - emancipation from one's fears, his inadequacies, from prejudice, from...

Liberals claim to want to give a hearing to other views, but then are shocked...

Liberals claim to want to give a hearing to other views, but then are shocked...