Tuesday, May 10, 2016

Nature of Wealth

People who want to redistribute wealth often misunderstand the nature and causes of wealth. Tangible wealth can be confiscated, but you cannot confiscate the knowledge which produced that wealth. Countries that confiscated the wealth of some groups and expelled them, destitute, have often seen the economy collapse, while the expelled people became prosperous again elsewhere.

Thomas Sowell, “Random Thoughts: 2016 Elections

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