Thomas Sowell Quotes
A recent poll showed that nearly half the American public believes that the government should redistribute wealth. That so many people are so willing to blithely put such an enormous and dangerous arbitrary power in the hands of politicians – risking their own freedom, in hopes of getting what someone else has – is a painful sign of how far many citizens and voters fall short of what is needed to preserve a democratic republic
Sowell, Thomas. Dismantling America. Basic Books, 2010.
Mises observes the classic philosophical quandary of business and commerce. If we cannot leave everything to the market place and the capitalists and entrepreneurs because they are morally and ethically fallible, will not the government people who regulate and control them be equally moral and fallible? Mises critics point out that Mises misses the difference in a democracy, that if fallible businessmen err, all can suffer and their personal vested interests do not necessarily coincide with the interests of the majority in general. If the government representative of the majority are fallible and err, the majority can correct them and if the majority does not, the people have undone themselves and have not been the victims of the foibles of a few privileged people in the society. Mises argues that it is the minority who, if left alone, would produce the best standard of living for the majority who should exercise they right to regulation only by their acts as consumers.
Thomas Sowell is an American economist, social theorist, and senior fellow at Stanford University's Hoover Institution.