On the occasion of America’s 241st birthday, take a moment to celebrate economist Thomas Sowell’s 87th which comes just a few days earlier.
The latter complements the former.
Born in the Jim Crow South in 1930, Sowell’s family was without electricity or hot running water. No one in his family had gone beyond the sixth grade in school.
Sowell graduated magnum cum laude from Harvard and earned his Ph.D. in economics from the University of Chicago.
He then spent the last half century as one of the most prolific and persuasive economists in advance of free minds and free markets in American history.
Make some time away from the grill this holiday to peruse Sowell’s Conflict of Visions primer on competing schools of political thought if you haven’t.
Other than Milton Friedman, no American economist has better harnessed his intellect to make economics accessible to the everyman.
An example of Sowell’s succinct summaries, “The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”
In his farewell column at the end of 2016 Sowell wrote, “We cannot return to the past…but let us hope we can learn something from the past to make for a better present and future.”
The more who learn from Sowell’s life’s work, the better the present and the future will be for America.