Quotation of the Day…

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… is from page 67 of Thomas Sowell’s 2023 book, Social Justice Fallacies (footnotes deleted; links added):

The turnover rate of individuals is especially high in the highest income brackets. What Professor Paul Krugman of the City University of New York has referred to as “the charmed circle of the 1 percent” must have a somewhat fleeting charm, because most of the people in that circle in 1996 were no longer there in 2005. Neither high-income people nor low-income people are like inert chess pieces.