Copy ImagePeople who pride themselves on their "complexity" and deride others for being "simplistic" should realize that the truth is often not very complicated. What gets complex is evading the truth
Thomas Sowell
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Despite a voluminous and often fervent literature on "income distribution," the cold fact is that most income is not distributed: It is earned
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There are only two ways of telling the complete truth--anonymously and posthumously
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What sense would it make to classify a man as handicapped because he is in a wheelchair today, if he is expected to be walking again in a month, and competing in track meets before the year is out? Yet Americans are generally given 'class' labels on the basis of their transient location in the income stream. If most Americans do not stay in the same broad income bracket for even a decade, their repeatedly changing 'class' makes class itself a nebulous concept. Yet the intelligentsia are habituated, if not addicted, to seeing the world in class terms
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Economics is a study of cause-and-effect relationships in an economy. It's purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature