Thomas Sowell - The Money of Fools

Thomas Sowell

Seventeenth century philosopher Thomas Hobbes said that words are wise men's counters, but they are the money of fools. That is as painfully true today as it was four centuries ago. Using words as vehicles to try to convey your meaning is very different from taking words so literally that the words use you and confuse you.
Take the simple phrase "rent control." If you take these words literally-- as if they were money in the bank-- you get a complete distortion of reality. New York is the city with the oldest and strongest rent control laws in the nation. San Francisco is second. But if you look at cities with the highest average rents, New York is first and San Francisco is second. Obviously, "rent control" laws do not control rent. Read more here:

Thomas Sowell - The Money of Fools