Thomas Sowell is a great economist, but his expertise extends to other fields of study. Everything from history to education.
But he’s also famous for being a great communicator, with dozens of well-known quotes.
I use one of them on my rotating banner because it succinctly summarizes why the left has to rely on emotional appeals rather than rigorous evidence.
For purposes of today’s column, I want to cite one of his other quotes, this one dealing with the fact that tradeoffs are an inevitable reality.
Simply stated, if you want more of one thing, you have to accept less of another thing.
And this has important implications for regulatory policy – especially about the value of cost-benefit analysis.
Let’s look at two examples.
First, here’s the abstract from a study by Jordan Nickerson from MIT and David Solomon from Boston College.
Since 1977, U.S. states have…
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Utopia, you are standing in it! 
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