Thomas Sowell Economics Quotations

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.

Lunches don't get free just because you don't see the prices on the menu. And economists don't get popular by reminding people of that.

Economics is concerned with what emerges, not what anyone intended.