I have only heard one Austrian Economist discuss Dr. Thomas Sowell and it was only one book I heard discussed. The commentator was Murray Rothbard in an MP3 I downloaded from LVMI. The book was a work on Marxism and Rothbard’s comment was that Dr. Sowell had largely written it back when he was a Marxist. He is no longer a Marxist. Has anyone read anything else by him? If so, what are your thoughts?
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I enjoy alot of his writings on economics and especially his arguments againts "civil rights" legislation. I have never known him to be a marxist ever in his career. I believe he has always been a conservative (he has some non-libertarian views).
Sowell is sometimes called conservative but says he considers himself libertarian. Maybe it would be more accurate to call him a conservative though. I like his book "Black Rednecks and White Liberals." Its the best book on racial issues in America in my opinion.
David Gordon very favorably reviewed his books on economics.
HERE
Jeffrey TuckerEditorial VP, Mises
Dr. Sowell's book, Basic Economics, changed my life, literally. I am posting on this forum right now because of his book. I picked the book up by chance at a Barnes&Noble book sale because I had been curious for some time about how the financial system and economy, in general, work. I recognized Dr. Sowell's name from radio interviews I had heard on conservative talk shows.
I began reading voraciously and each new concept blew my mind again and again, starting with the maxim of individual self-interest: People tend to act more in their own interest than in the interests of others. Dr. Sowell applies this principle to government polices - rent control, gas price controls, wage controls and so on - to debunk the "Government Can Fix It!" myth. He debunks the myth of arbitrary prices as a greed metric.
As I read through Dr. Sowell's book, I began to realize that we did not need government to regulate commerce and, in fact, wherever it does regulate commerce, its effects are unfaillingly detrimental. I became curious about how much government did we really need. Through my multi-dimensional travesl across the internet, I arrived from Dr. Sowell to a roughly Austrian view of economics and government (I have a soft spot for David Friedman - but don't shoot me!)
I will go so far as to say that, despite a four year degree in computer engineering, I had not really learned to think critically until I read Dr. Sowell's book. It was as if Coke-bottle glasses had been removed from my eyes and I could see, clearly, with my own 20/20 eyeballs. I had been a Republican from my youth. I was a huge fan of FOX News but, suddenly, all the economic clap-trap coming out of Murdoch's machine grated on my ears just as harshly as the CNN or MSNBC clap-trap.
Now, I can clearly see that the government is just evil. To be more precise (and quoting Dr. Hoppe, who is always precise), it is the territorial monopoly on decision-making which is unjust. Its corrolaries - the territorial monopoly on force and forcible collection of revenues - constitute nothing more than a protection racket. The fabric of government is so intrinsically criminal that it seeks to monopolize all criminal ventures. No one but the government may operate a numbers racket (lottery regulations), no one but the government may operate a counterfeiting ring (central banking), no one but the government may operate a Ponzi scheme (Social Security), no one but the government may operate a drug cartel (DEA), no one but the government may operate a protection racket (taxes to fund the warfare/police state), no one but the government may operate an extortion ring (consumer protection agencies), no one but the government may harass and stalk citizens (the Big Brother state), no one but the government may fund terrorism through charity fronts (taxes to fund the welfare/police state), and on and on and on. When I first began reading Rothbardian and Hoppean criticisms of the state, felt they were a bit hyperbolic, but the more I read, the more I realized their arguments were insuperable on any view.
Anyway, I don't know whether Sowell is Austrian per se (I suspect that, by virtue of not being associated with LvMI, he's not), he led me to Austria, and I am happy.
Clayton -
Ive just read two books by Sowell, "Race & Culture" and "Black Rednecks And Whitle Liberals" but trust me :D i will read more, to me Sowell is a Fresh breath of air..
Walter Block has gone so far as to say that Sowell is deserving of the Nobel prize in economics. He said this before Krugman won, so this statement actually had some meaning.
ClaytonB: Dr. Sowell's book, Basic Economics, changed my life, literally. I am posting on this forum right now because of his book. I picked the book up by chance at a Barnes&Noble book sale because I had been curious for some time about how the financial system and economy, in general, work. I recognized Dr. Sowell's name from radio interviews I had heard on conservative talk shows. I began reading voraciously and each new concept blew my mind again and again, starting with the maxim of individual self-interest: People tend to act more in their own interest than in the interests of others. Dr. Sowell applies this principle to government polices - rent control, gas price controls, wage controls and so on - to debunk the "Government Can Fix It!" myth. He debunks the myth of arbitrary prices as a greed metric. As I read through Dr. Sowell's book, I began to realize that we did not need government to regulate commerce and, in fact, wherever it does regulate commerce, its effects are unfaillingly detrimental. I became curious about how much government did we really need. Through my multi-dimensional travesl across the internet, I arrived from Dr. Sowell to a roughly Austrian view of economics and government (I have a soft spot for David Friedman - but don't shoot me!) I will go so far as to say that, despite a four year degree in computer engineering, I had not really learned to think critically until I read Dr. Sowell's book. It was as if Coke-bottle glasses had been removed from my eyes and I could see, clearly, with my own 20/20 eyeballs. I had been a Republican from my youth. I was a huge fan of FOX News but, suddenly, all the economic clap-trap coming out of Murdoch's machine grated on my ears just as harshly as the CNN or MSNBC clap-trap. Now, I can clearly see that the government is just evil. To be more precise (and quoting Dr. Hoppe, who is always precise), it is the territorial monopoly on decision-making which is unjust. Its corrolaries - the territorial monopoly on force and forcible collection of revenues - constitute nothing more than a protection racket. The fabric of government is so intrinsically criminal that it seeks to monopolize all criminal ventures. No one but the government may operate a numbers racket (lottery regulations), no one but the government may operate a counterfeiting ring (central banking), no one but the government may operate a Ponzi scheme (Social Security), no one but the government may operate a drug cartel (DEA), no one but the government may operate a protection racket (taxes to fund the warfare/police state), no one but the government may operate an extortion ring (consumer protection agencies), no one but the government may harass and stalk citizens (the Big Brother state), no one but the government may fund terrorism through charity fronts (taxes to fund the welfare/police state), and on and on and on. When I first began reading Rothbardian and Hoppean criticisms of the state, felt they were a bit hyperbolic, but the more I read, the more I realized their arguments were insuperable on any view. Anyway, I don't know whether Sowell is Austrian per se (I suspect that, by virtue of not being associated with LvMI, he's not), he led me to Austria, and I am happy. Clayton -
I developed my interest in economics from the same book. I have read 3 more of his books since then. I don't think a Nobel Prize would be appropriate though because he isn't a theorist. He is a damn good economist that knows how to explain economics to everyday people. He is the Bastiat of the 20th century.
"I cannot prove, but am prepared to affirm, that if you take care of clarity in reasoning, most good causes will take care of themselves, while some bad ones are taken care of as a matter of course." -Anthony de Jasay
I have never heard of Dr Sowell described as a marxist.
I think that his book, "Knowledge and Decisions" is an attempt to build on Hayek's essay, "The use of knowledge in society". I also read a very positive article of Sowell's on Say. So Dr Sowell may not be an Austrian, I am sure he leans in that direction.
David Gordon gave his two books on economics very high marks. I've wondered for a long while whether we should look into carrying his books. The only real issue is that, while he writes in the areas he is great on, he is probably more fairly classifed as a neoclassical Hayekian rather than an Austrian as such. Still, these are wonderful books.
I first became acquainted with Dr. Sowell's work in his _Black Rednecks and White Liberals_, which struck me as insightful, compelling, and easy to follow. Following his writing is what led me to begin studying Economics - a field I'd long considered too boring, convoluted, and irrelevant (!) to focus on. His _Basic Economics - A Citizen's Guide to the Economy_ cured me of that misconception, and I recommend it unreservedly as a starting point in the study of economics. He mentions, occasionally, the liberal leanings and rocky start of his youth, but I strongly doubt he was ever a Marxist - if he was, it was long ago. Then again, I've not found any book of his that directly discussed Marxism, (though he often mentions the flaws in Socialist policies), so I may be, yet again, underinformed.
Dr. Sowell and I do not agree on all things, but in the half-dozen of his books that I've read, his writing ranges from very good to superb. His reasoning is clear, accessable and easy to follow, his research is extensive and well-referenced without being overwhelming, and he often has insights that are clear and obvious - but only after he has pointed them out.
There is a previous thread here, in which I asked for reactions to his economics, and got unfailingly good reviews of it, though he seems to be of the Chicago school.
If Mises would start carrying his books, I could get them here instead of from Amazon. ;-)
Danno, who must be a fanboy
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I've found some info on Sowell and Marxism. This is from a 1985 review on Sowell's book, Marxism: Philosophy and Economics, taken from TheFreemanOnline.org:
http://www.thefreemanonline.org/columns/book-review-marxism-philosophy-and-economics-by-thomas-sowell/Dr. Sowell sees the modern practice of communism as being, in a sense, a betrayal of Marx’s thought, but not one which should have been wholly unpredictable. For one thing, Marxism is, in Sowell’s words, “a mighty instrument for the acquisition and maintenance of political power.” And it is not entirely clear whether Marx himself would not have committed the atrocities of a Joseph Stalin or a Pol Pot.Nevertheless, Dr. Sowell, who himself now holds a distinctly free-market outlook, remembers the attraction which Marxist doctrine once held for him and continues to hold for countless students and intellectuals. He tells us, “What Marx accomplished was to produce such a comprehensive, dramatic, and fascinating vision that it could withstand innumerable empirical contradictions, logical refutations and moral revulsions at its effects.”Dr. Sowell, too, is dramatic and comprehensive, and his book is clearly written and devoid of jargon. It is ideally suited as an introduction to Marxism, but it delves deeply enough to recommend itself to more learned scholars. The last chapter spells out the tragic flaws in Marx’s reasoning and is especially worth reading. Dr. Sowell has provided a valuable work which will enable us to base our acceptance of free enterprise and our rejection of communism on careful study and deliberation
Wow, according to Wiki, Sowell went from high school dropout to magna cum laude of Harvard with a Bachelor of Arts degree in Economics - for starters. He was also a late-talker and in 2002 wrote, The Einstein Syndrome: Bright Children Who Talk Late.
http://en.wikipedia.org/wiki/Thomas_Sowell
"The best way to bail out the economy is with liberty, not with federal reserve notes." - pairunoyd
"The vision of the Austrian must be greater than the blindness of the sheeple." - pairunoyd
Sowell is right on target. Read "The Vision of the Anointed." You will learn a lot.
I havent read it but I checked out the audio version from the library several years ago. Rush Limbaugh is where I first became aware of Sowell. Sowell and Walter Williams would sometimes fill in for Rush. I had not heard very many, if any, blacks supporting freer markets, until I came across those two.
He wrote (and I think still writes) interesting stuff on capitalism.com (or org.?) which is an objectivist site. I used to read his articles and it first educated me on the use of incentives, through minimum wages, that tend and tended to favor racism and workplace discrimination. I sometimes ask if austrian econ. necessitates a materialist view of historical progress and while the answer is "no" it is a view that I half-heartedly hold largely based on his articles.
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