Reviewed Date: August 18th, 2024
“A man is not even equal to himself at different stages of life.” The quote struck me very hard. What most people don’t understand is that we should all aim for equal opportunity but not for equal outcome. You cannot expect an incompetent man to do the job the same way a competent man does. It defeats the purpose.
People have diverse talents, and they excel in different fields. Moreover, the environment they grew up in, the country’s history they witnessed, and the culture they inherited play a major role in the potential they have. But that doesn’t mean they all have equal capabilities. Some are more capable than others. It’s like some regions of a country are more advanced and developed than others, even though they are in the same country.
The concept that I found more interesting is the minimum wage. It doesn’t help the employees. When there are surplus unemployed people in the market, the minimum wage law makes employers discriminate because they can choose a candidate based on their racial preference rather than their talent and capability. And the same law makes businesses cut down their manpower expenditures because it’s expensive and eats up a major chunk of business revenue.
Thomas Sowell is one of my favorite authors. I read 4 of his books. Every time I pick up his book, I am ready to be blown away by its contents. I am surprised this time; half of the book is just for references. Imagine how much research he has done to write the book. I highly recommend this book. It’s easy to get carried away by emotions, but facts push us to understand reality as it is.
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