Socialism is a wonderful idea. It is only as a reality that it has been disastrous. Among people of every race, color, and creed, all around the world, socialism has led to hunger in countries that used to have surplus food to export.... Nevertheless, for many of those who deal primarily in ideas, socialism remains an attractive idea — in fact, seductive. Its every failure is explained away as due to the inadequacies of particular leaders.

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About Thomas Sowell

Thomas Sowell (born June 30, 1930) is an American economist and political commentator. He taught economics at Cornell University, the University of California, Los Angeles, and since 1980 at the Hoover Institution at Stanford University, where he is currently Senior Fellow.

Biography information from Wikiquote

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Additional quotes by Thomas Sowell

"The government is indeed an institution, but "the market" is nothing more than an option for each individual to chose among numerous existing institutions, or to fashion new arrangements suited to his own situation and taste."