Quintessential Quotes – Thomas Sowell
March 13, 2010 Leave a comment
“Because wages and salaries are so important in the lives of most individuals, there is a tendency to look at earnings from work solely from the standpoint of the individuals receiving those earnings. However, this overlooks the important role of the price of labor in allocating resources in ways which promote economic efficiency and thereby raise the standard of living in the society as a whole.”
Sowell, T. (2007). Basic Economics. New York: Perseus Books Group.
