Thomas Sowell

A threesources.com favorite is undoubtedly Thomas Sowell.

OpinionJournal.com has an interview with him up on their site.

Asked why classical economics--and economists like Adam Smith, David Ricardo, Mill and Marx--continues to deserve attention, Mr. Sowell replies that "if classical economics is relevant, than Mill and Marx are relevant. Why is classical economics relevant? I guess it's relevant because there are people who study it, and if they're going to talk about it they ought to know what they're talking about, which is a requirement sometimes overlooked."

Free-market economics, a legacy of the classical school, is thought of as an old conservative doctrine. But Mr. Sowell explains that it was in fact one of the most revolutionary concepts to emerge in the history of ideas. Moreover, "the thinking of the classical economist was not only a radical break from landmark intellectual figures like Plato and Machiavelli but also from mainstream thinking to this day." The notion of a self-equilibrating system--the market economy--meant a reduced role for intellectuals and politicians, he says. "And even today many still haven't accepted that their superior wisdom might be superfluous, if not damaging."

Economics and Markets Posted by AlexC at March 25, 2006 7:08 PM