Thomas Sowell Quotes


Most problems, decisions, and performances are multidimensional, but somehow the results have to be reduced to a few key indicators which are to be institutionally rewarded or penalized... The need to reduce the indicators to a manageable few is based not only on the need to conserve the time (and sanity) of those who assign rewards and penalties, but also to provide those subject to these incentives with some objective indication of what their performance is expected to be and how it will be judged... key indicators can never tell the whole story.


Citations

Sowell, Thomas. Knowledge and Decisions. Basic Books, 1980, p. 165.

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Thomas Sowell
Thomas Sowell
  • Born: June 30, 1930
  • Nationality: American
  • Profession: Economist

Thomas Sowell is an American economist, social theorist, and senior fellow at Stanford University's Hoover Institution.