Thomas Sowell is an economist who has written extensively. This is the second book of his that I have read. This book was relatively short but it took me longer than I thought it would to finish it.
Sowell writes “The difference between seeing economic disparities as due to differences in the production of wealth and seeing those disparities as due to the transfer of wealth from some people to other people is fundamental. History shows that either cause of economic disparities can prevail at particular times and places.”
Sowell covers many topics that address economics. When discussing poverty he writes “Isolation is a recurring factor in poverty and backwardness around the world.”
This book discusses geography and culture and the role those play in economic development. Corruption, government inefficiency, and minimum wage laws are additional topics. Sowell writes “More than simple mistakes are involved in promoting a culture of dependency among those whom government statisticians have chosen to define as living in poverty. A dependent voting constituency is very valuable to politicians”
Sowell also spend time discussing equality. He notes “Whatever the merits of any particular definition of equality of outcomes what must be faced are the consequences of perpetually promoting a fervent crusade perpetually frustrated by its own internal contradictions but whose frustration is instead blamed on some human enemies of a sacred cause.”
There is a lot of information in this book. It presents several theories about economics and can be used for thought provoking discussion. However I had a hard time getting through it and was ready for it to be over by the time I got to the end.
Overall I rate it 3 out of 5 stars.
“The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.”
Friedrich August von Hayek
Alexander walked down 7th Avenue for several minutes. The sheer number of people walking down the street was astounding. Many of them held small rectangular devices in their hands. Many of them also had strange ear coverings. Alexander continued to walk and soon found himself in Times Square. The flashing billboards and millions of illuminated pixels were dizzying.
Truly this was a remarkable civilization. The magnitude of their grandeur was unprecedented. Alexander could tell that this square was a shrine. As he had traveled to see the Oracle at Delphi so too had many thousands of people travel to this site. Was there something holy about it? What insights could be gathered from this glittering acropolis?
Amidst the jarring sounds of what must have been music Alexander gravitated towards a crowd that appeared to be watching something. As he drew closer he noticed a performer. Alexander watched the gyrations of the man’s body as the crowd cheered. Alexander was witnessing his first break dancing performance. He watched as the performer skipped around the rectangle formed by the crowd collecting money. Once he had secured the amount he was looking for he continued to perform. Alexander watched dispassionately as the performer spun on his head and then back before jumping onto his feet and concluding ...
