The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
Thomas SowellCongressman Frank and Senator Dodd wanted the government to push financial institutions to lend to people they would not lend to otherwise, because of the risk of default. ... The idea that politicians can assess risks better than people who have spent their whole careers assessing risks should have been so obviously absurd that no one would take it seriously.
Thomas SowellPrices 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.
Thomas SowellMany of the words and phrases used in the media and among academics suggest that things simply: happen: to people, rather than be being caused by their own choices and behavior. Thus there is said to be an 'epidemic' of teenage pregnancy, or of drug usage, as if these things were like the flu that people catch just by being in the wrong place at the wrong time.
Thomas SowellCapitalism knows only one color: that color is green; all else is necessarily subservient to it, hence, race, gender and ethnicity cannot be considered within it.
Thomas Sowell