Thomas Sowell Quote

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.

Knowledge And Decisions (ed. Basic Books, 1996) - ISBN: 9780786723638

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements...

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements...

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements...

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements...