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Book: Economic Facts and Fallacies
Quotes of Book: Economic Facts and Fallacies
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  1. Thomas Sowell _ Economic Facts and Fallacies

    A 1972 study showed that the amount of pollution per mile traveled by horse was a hundred times the amount of pollution per mile traveled by automobile.27 Since the cars produced in later years have had reduced pollution levels, the disparity today would be even greater. It should also be noted that the replacement of horses by automobiles made it possible to "restore more than 80 million acres of forestlands that had once been cleared for horse pasture."28
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  2. Thomas Sowell _ Economic Facts and Fallacies

    What is called "planning" in political rhetoric is the government's suppression of other people's plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others.
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  3. Thomas Sowell _ Economic Facts and Fallacies

    While "greed" is one of the most popular-and most fallacious-explanations of the very high salaries of corporate executives, when your salary depends on what other people are willing to pay you, you can be the greediest person on earth and that will not raise your pay in the slightest. Any serious explanation of corporate executives' salaries must be based on the reasons for those salaries being offered, not the reasons why the recipients desire them.
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  4. Thomas Sowell _ Economic Facts and Fallacies

    Whatever we wish to achieve in the future, it must begin by knowing where we are in the present- not where we wish we were, or whee we wish others to think we are, but where we are in fact.
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