- Cafe Hayek - https://cafehayek.com -

Bonus Quotation of the Day…

Tweet [1]

… is from pages 118-119 of Thomas Sowell’s 2018 volume Discrimination and Disparities [2]:

“Solutions” can be a society’s biggest problem – and especially governmental “solutions” – because government is essentially a categorical institution in an incremental world.  When many desirable things compete for a share of inherently limited resources, individuals making decisions for themselves can make incremental trade-offs, giving up a certain amount of X to get a certain amount of Y – and at some point putting a stop to that particular trade-off, when they feel a need to conserve their dwindling supply of X and are approaching a more adequate supply of Y.

Government decisions, however, tend to be categorical: Things are either legal or illegal, and people are either eligible or ineligible for benefits provided by government.

Share [3] Tweet [4] Share [5] Email [6] Print [7]

Comments