Thomas Sowell doubts ‘the entrepreneurial spirit’ will win out over ‘big government’ in AmericaSubmitted by bobbyw24 on Thu, 02/17/2011 - 16:42
Economics was dubbed “the dismal science” in the 19th century, and Thomas Sowell thinks the current political leadership is making U.S. economic policy live up to that reputation.
Sowell appeared on Wednesday night’s “The Kudlow Report,” on CNBC to promote his book, “Basic Economics: A Common Sense Guide to Economics.” Host Larry Kudlow asked Sowell about the current outlook and his long-term predictions for the economic system as a whole in the United States. The senior fellow at Stanford University’s Hoover Institution replied that politics plays into the answer.
“That’s an unanswerable question because there’s not an economic question solely,” Sowell explained. “It’s a question of what the politicians will do. I will not predict what the politicians will do a month from now when it becomes necessary to either shut down the government or raise the debt ceiling.”