Thomas Sowell Cost Quotations

Actually lowering the cost of insurance would be accomplished by such things as making it harder for lawyers to win frivolous lawsuits against insurance companies.

For society as a whole, nothing comes as a "right" to which we are "entitled." Even bare subsistence has to be produced-and produced at a cost of heavy toil for much of human history. The only way anyone can have a right to something that has to be produced is to force someone else to produce it for him. The more things are provided as rights, the less the recipients have to work and the more others have to carry their load.

Much of the self-righteous nonsense that abounds on so many subjects cannot stand up to three questions: (1) Compared to what? (2) At what cost? and (3) What are the hard facts?.

One of the most basic and pervasive social processes is the sorting and labeling of things, activities, and people... Sorting and labeling processes involve a trade-off of costs and benefits. In general, the more finely the sorting is done, the greater the benefits - and the costs... Sorting and labeling, whether of people or of things, is a sorting and labeling of probabilities rather than of certainties.

It is so easy to be wrong-and to persist in being wrong-when the costs of being wrong are paid by others.

There are 3 questions that would destroy most of the arguments of the Left. The first is - compared to what? The second is - at what cost? And the third is - what hard evidence do you have?

In its pursuit of justice for a segment of society, in disregard of the consequences for society as a whole, what is called 'social justice' might more accurately be called anti-social justice, since what consistently gets ignored or dismissed are precisely the costs to society. Such a conception of justice seeks to correct, not only biased or discriminatory acts by individuals or by social institutions, but unmerited disadvantages in general, from whatever source they may arise.

One of the biggest reasons for higher medical costs is that somebody else is paying those costs, whether an insurance company or the government. What is the politicians' answer? To have more costs paid by insurance companies and the government. ... [H]aving someone else pay for medical care virtually guarantees that a lot more of it will be used. Nothing would lower costs more than having each patient pay those costs. And nothing is less likely to happen.