"Capitalist enterprises buy components from others who have lower costs in producing those particular components, and sell their own output to whatever middlemen can most efficiently carry out its distribution. But a socialist economy may forego these advantages of specialization; and for perfectly rational reasons, given the very different circumstances in which they operate."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Thomas Sowell, Basic Economics, 4th ed. (2010), Ch. 6. The Role of Profits—and Losses
https://en.wikiquote.org/wiki/Socialism
Revision History
No revisions have been submitted for this quote.
Categories
Socialism
205 quotes on TrueQuotesView all quotes by Socialism →
Related Quotes
"Sosialismi. Voiton marximointia. (Seppo Ahti = Bisquit) (SSSK)"
"Socialism of any type leads to a total destruction of the human spirit and to a leveling of mankind into death."
"Why is it after a century of socialist disasters, and an intellectual legacy that has been time and again exploded, t…"
"Socialism is the same as Communism, only better English."
"The trouble is with socialism, which resembles a form of mental illness more than it does a philosophy. Socialists ge…"
"In different places over the years I have had to prove that socialism, which to many western thinkers is a sort of ki…"
"Under Socialism, you would not be allowed to be poor. You would be forcibly fed, clothed, lodged, taught, and employe…"
"The socialism I believe in is everyone working for each other, everyone having a share of the rewards. It's the way I…"
"As we know, socialism is calculational chaos. Rational appraisement and allocation are eternally elusive. It is a gig…"
"It is far more likely that by the time nationalization has become the rule, and private enterprise the exception, Soc…"