The time is long overdue to stop looking for progress through racial or ethnic leaders. Such leaders have too many incentives to promote polarizing attitudes and actions that are counterproductive for minorities and disastrous for the country.
Thomas SowellAlthough I am ready to defend what I have said, many people expect me to defend what others have attributed to me.
Thomas SowellA shortage is a sign that somebody is keeping the price artificially lower than it would be if supply and demand were allowed to operate freely.
Thomas SowellFinancial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.
Thomas Sowell