Quote by Thomas Sowell

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

The first lesson of economics is scarcity: There is never en

Summary

This quote by Thomas Sowell highlights two contrasting perspectives - economics and politics. The first lesson of economics emphasizes scarcity, the understanding that resources are limited and cannot fulfill unlimited desires. On the other hand, the quote suggests that politics often overlooks this fundamental principle, engendering a reluctance to make tough decisions and allocate resources efficiently to address scarce needs. It implies that political decisions may presume unlimited resources or prioritize short-term interests, ultimately neglecting the economic reality of scarcity. This quote alludes to the potential disconnect between economic principles and political decision-making processes.

Topics

Economics

By Thomas Sowell

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