Quotation of the Day…

by Don Boudreaux on April 30, 2022

in Myths and Fallacies, Seen and Unseen

… is from page 151 of Thomas Sowell’s 2008 book, Economic Facts and Fallacies (original emphases):

Although one person’s income may be a hundred or a thousand times greater than another’s, it is of course very doubtful that one person is a hundred or a thousand times more intelligent or works a hundred or a thousand times as hard. But, again, input is not the measure of value. Results are. In a multibillion dollar corporation, one person’s business decisions can easily make a difference of millions – or even billions – of dollars, compared to someone else’s decisions.

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