"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics"
- Thomas Sowell
About this Quote
This quote by Thomas Sowell is a commentary on the relationship between economics and politics. It suggests that while economics is based upon the concept of scarcity, politics is based upon the concept of ignoring this concept. To put it simply, politics is typically driven by the desire to satisfy the wants and needs of the people, no matter the limited resources readily available. This is why political leaders typically make guarantees that are difficult to keep, as they are not taking into consideration the reality of shortage. The quote also suggests that politicians are more worried about gaining and preserving power than with making sound financial decisions. Ultimately, this quote serves as a reminder that economics and politics are 2 really various disciplines, and that the choices made in one need to not be based upon the concepts of the other.
This quote is written / told by Thomas Sowell somewhere between July 30, 1930 and today. He/she was a famous Economist from USA.
The author also have 47 other quotes.
"Well, I think any time you delve into this sort of religion, politics, as you well know, you're going to, you know, touch a few nerves. I wasn't - now - and this is the honest truth"
