Category: Quotes

Quintessential Quotes – Thomas Sowell

“Because wages and salaries are so important in the lives of most individuals, there is a tendency to look at earnings from work solely from the standpoint of the individuals receiving those earnings.ย  However, this overlooks the important role of the price of labor in allocating resources in […]

Quintessential Quotes – Thomas Sowell

“It would be comforting to believe that the government can simply decree higher pay for low-wage workers, without having to worry about unfortunate repercussions, but the preponderance of evidence indicates that labor is not exempt from the basic economic principle that artificially high prices cause surpluses.” Sowell, T. […]