Economics is a study of cause-and-effect relationships in an economy. It’s purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.

Economics is a study of cause-and-effect relationships in an economy. It’s purpose is to discern the consequences of various ways of allocating resources which have alternative uses. It has nothing to say about philosophy or values, anymore than it has to say about music or literature.

– Thomas Sowell –

Basic Economics: A Citizen’s Guide to the Economy

© License assigned to YouCanQuoteME. License CC BY-NC 4.0

📲 Copy this QR code to share the phrase wherever you want