Being wrong Quote by Thomas Sowell
“Oliver Wendell Holmes said, "Think things, not words." In words, many see a need for "social justice" to override "the dictates of the market." In reality, what is called "the market" consists of human beings making their own choices at their own cost. What is called "social justice" is government imposition of the notions of third parties, who pay no price for being wrong.”
About This Quote
Source Book: Basic Economics, 2000
Markets are driven by individual choices; social justice often imposes external values without cost.
In simple terms: Markets = choices; justice = imposed ideas.
Key Takeaway
Weigh freedom against imposed ideals.
Themes
economics
politics
ethics
freedom
Mood
critical
analytical
skeptical
Type
political
economic
When to use this quote
- policy making
- business strategy
- public debate
- personal finance
Key Concepts
choice theory
government intervention
social policy
Questions to Reflect On
- What costs do you associate with market freedom?
- When should government intervene?
A Different Perspective
Risk of ignoring collective welfare needs.
