Thomas Sowell Quotes

Verified quotes on economic reality, rationalism, systems analysis.

“The most fundamental question is not what decision to make but who is to make it—through what processes and under what incentives and constraints, and with what feedback mechanisms to correct the decision if it proves to be wrong.”

“Rational decisions are decisions that weigh one thing against another, a trade-off as distinguished from a crusade to achieve some good thing without weighing costs.”

“Capital is always available under capitalism, but knowledge and insights are rare and precious under any system.”

“Analyzing economic actions in cause-and-effect terms means examining the logic of the incentives being created, rather than simply the goals being sought.”