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Politics Quote by Thomas Sowell

“What the British had earlier than many other peoples was a framework of law and government that facilitated economic transactions.” quote by Thomas Sowell
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““What the British had earlier than many other peoples was a framework of law and government that facilitated economic transactions.””

Thomas Sowell

About This Quote

Source Book: Basic Economics, 2000

A stable legal and governmental framework enables efficient economic activity and growth.

In simple terms: Law and government help economies work.

Key Takeaway

Support strong institutions.

Themes

economics law government

Mood

analytical informative

Type

economic educational

When to use this quote

  • policy making
  • business planning
  • international trade

Key Concepts

institutional economics market facilitation

Questions to Reflect On

  • What role does culture play?
  • Can law hinder innovation?
A Different Perspective

Assumes all frameworks are equally effective.

3.0 out of 5 (4 ratings)

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