"Imagine a political system so radical as..." - Quote by Thomas Sowell
Imagine a political system so radical as to promise to move more of the poorest 20% of the population into the richest 20% than remain in the poorest bracket within the decade? You don't need to imagine it. It's called the United States of America.
More by Thomas Sowell
More on Opportunity
“I put myself in the way of things happening, and they happened.”
“From the first moment a woman dared to speak that hope - dared to believe that the American Dream was meant for her too - ordinary women have taken on extraordinary odds to give their daughters the chance for something else; for a life more equal, more free, and filled with more opportunity than they ever had. In so many ways we have succeeded, but in so many areas we have much work left to do.”
“If we miss this chance to make a fresh start, we may look back on this moment from some later vantage point and realize how much that failure cost us all.”
More on Economics
“Every proprietor owes to the community a ground-rent for the land which he holds.”
“Adam Smith's 'invisible hand' is not above sudden, disturbing, movements. Since its inception, capitalism has known slumps and recessions, bubble and froth; no one has yet dis-invented the business cycle, and probably no one will; and what Schumpeter famously called the 'gales of creative destruction' still roar mightily from time to time. To lament these things is ultimately to lament the bracing blast of freedom itself.”
“The federal [bank deposit] insurance scheme has worked up to now simply and solely because there have been very few bank failures. The next time we have a pestilence of them it will come to grief quickly enough, and if the good banks escape ruin with the bad ones it will be only because the taxpayer foots the bill.”