Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Friday, April 3, 2026

Is Reality Optional? Thomas Sowell’s Sharp Warning Against Wishful Thinking

My copy, purchased in 1994
When it comes to thinking clearly and speaking pointedly about contemporary issues, there are few better minds than that of Thomas Sowell, an American economist, social theorist, and senior fellow at the Hoover Institution. He's widely regarded as one of the most influential conservative thinkers of the past half-century for his clear-eyed, data-driven critiques of liberal social policies and his emphasis on empirical reality over ideological wishful thinking.

In 1993, Sowell published a short but powerful collection of essays titled Is Reality Optional? And Other Essays. Don’t let the title fool you — this isn’t some abstract philosophy book. It’s a no-nonsense straight-talking takedown of the idea that we can simply ignore reality when it doesn’t fit our favorite theories.

If you step off the roof of your house there will be consequences, whether you believe in the law of gravity or not. So, too, there are laws of economics, which we ignore to our own peril.

Sowell’s central argument is blunt: too many intellectuals, activists, and politicians treat reality as optional. They believe that with enough good intentions, clever policies, or bold social engineering, we can reshape human nature, fix complex problems, and create a better world — even if the evidence says otherwise.
He contrasts two very different ways of looking at the world. One vision (which he calls the “unconstrained” or visionary view) sees humans as highly malleable. If society has problems, it must be because of bad institutions or not enough compassion. The solution? Big government programs and new theories to remake everything.
The other view (the “constrained” or tragic vision) is more realistic. It says human nature has built-in limits — scarcity, self-interest, imperfect knowledge, and trade-offs. Good policy, Sowell argues, must work with these limits instead of pretending they don’t exist.
A quote on the back cover (of my copy) captures the problem perfectly:
“Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good. In area after area—crime, education, housing, race relations—the situation has gotten worse after the bright new theories were put into operation. The amazing thing is that this history of failure and disaster has neither discouraged the social engineers nor discredited them.” (EdNote: This was more than three decades ago, and the trend has continued unabated.) 
Sowell points to real-world examples in crime, education, welfare, housing, and race relations. Again and again, “bright new ideas” were tried, problems got worse, and yet the people pushing those ideas rarely faced any consequences. 
He repeatedly warns against what he calls “intellectual hubris” — the dangerous belief that experts know better than millions of ordinary people making decisions in their own lives. Sowell stresses the importance of empirical evidence and common sense (which, as they say, is as rare as the dodo). Start with observable facts and historical results, not beautiful-sounding theories.
At just 192 pages, Is Reality Optional? is short, readable, and often contrarian. Sowell writes like a man tired of watching the same mistakes get repeated while reality keeps sending the bill.
In a world full of grand ideological promises, Sowell reminds us of a simple truth: reality is not optional. You can ignore scarcity, incentives, trade-offs, and human nature for a while — but eventually, they push back.
Here are a few quotes that will give you the flavor of Sowell's ideas.

On Economics vs. Politics

“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”


On Faith Masquerading as Science

“Some things must be done on faith, but the most dangerous kind of faith is that which masquerades as ‘science.’”


On Forgiveness and Being Right

“People will forgive you for being wrong, but they will never forgive you for being right—especially if events prove you right while proving them wrong.”


A few more notable quotes from the book:

--“Ordinary people, lacking that gift [of ignoring reality], are forced to face reality.”

--“The welfare state is the oldest con game in the world. First you take people’s money away quietly, and then you give some of it back to them flamboyantly.”

--“It takes considerable knowledge just to realize the extent of your own ignorance.”  


Recommended: Thomas Sowell, who was born in 1930, is still alive and kicking. YouTube has a treasure trove of videos that will give you an opportunity to engage directly with Sowell's ideas. His brain is stuffed with truckloads of facts from a lifetime of research, facts that often remain buried because they fail to fit the Progressive narrative.

Tuesday, March 24, 2026

Tech Tuesday: A.I., Robots and Future Impacts of the Tech Revolution

Over the past decade, I've been fascinated by the rapid rise of artificial intelligence and its profound impact on work, creativity, journalism, marketing, and society at large. From early conversations with futurist Calum Chace about The Economic Singularity and Surviving AI, to exploring how ChatGPT is reshaping storytelling and white-collar jobs, I've been tracking AI’s journey from speculative fiction to everyday reality.

In this collection, you’ll find reflections on jobs that AI may soon transform or eliminate, ethical questions surrounding AI-generated art in advertising, the poetic warnings of Richard Brautigan, optimistic predictions from Mark Cuban, and even the possibility of chatbots falling in love. Whether you're concerned about the future of your career, curious about AI’s creative potential, or simply trying to make sense of this technological revolution, I offer these posts as a thoughtful, wide-ranging look at one of the most important stories of our time.

AI Artificial Intelligence

A Visit with Futurist Calum Chace on his new book The Economic Singularity

https://pioneerproductions.blogspot.com/2016/06/a-visit-with-futurist-calum-chace-on.html


Surviving AI by Calum Chace Is a Must Read for Those Who Plan to Be Here in the Future

https://pioneerproductions.blogspot.com/2016/06/surviving-ai-by-calum-chace-is-must.html


Will Computers Put Journalists Out Of Business? Check Out These 7 Stories

https://pioneerproductions.blogspot.com/2016/04/will-computers-put-journalists-out-of.html


The AI Revolution and Marketing (Part One)

https://pioneerproductions.blogspot.com/2024/10/the-ai-revolution-and-marketing-part-one.html


What Kinds of Jobs Will Be Lost Due to AI?

https://pioneerproductions.blogspot.com/2023/07/what-kinds-of-jobs-will-be-lost-due-to.html


Four ChatGPT Stories with Implications for All

https://pioneerproductions.blogspot.com/2023/04/four-chatgpt-stories-with-implications.html


Can ChatBots Fall In Love?

https://pioneerproductions.blogspot.com/2023/03/can-chatbots-fall-in-love.html


Tech Tuesday: A.I. Is Already Taking White Collar Writing Jobs. Who's Next?

https://pioneerproductions.blogspot.com/2016/08/tech-tuesday-ai-is-already-taking-white.html


Interview with David Asch Offers Insights On A.I.

https://pioneerproductions.blogspot.com/2021/10/interview-with-david-asch-offers.html


The Importance of Klara and the Sun For Data Science Workers (by David Asch)

https://medium.com/management-matters/the-importance-of-klara-and-the-sun-for-data-science-workers-2b9768c2d50f


Tech Tuesday: The Future of Jobs (Part One)

https://pioneerproductions.blogspot.com/2020/06/tech-tuesday-future-of-jobs-part-one.html


Richard Brautigan's "All Watched Over By Machines Of Loving Grace"

https://pioneerproductions.blogspot.com/2018/02/richard-brautigans-all-watched-over-by.html


Tech Tuesday: Two AI Specialists Place Wagers on the Economic Impact of AI

https://pioneerproductions.blogspot.com/2017/12/tech-tuesday-two-ai-specialists-place.html


Tech Tuesday: Mark Cuban Predicts AI Entrepreneur Trillionaires

https://pioneerproductions.blogspot.com/2017/03/tech-tuesday-mark-cuban-predicts-ai.html


A.I. Art in Advertising: Unethical or Much Ado about Nothing?

https://pioneerproductions.blogspot.com/2023/04/ai-art-in-advertising-unethical-or-much.html


Flashback Friday: Will A.I. Finally Solve the JFK Assassination?

https://pioneerproductions.blogspot.com/2024/11/flashback-friday-will-ai-finally-solve.html


Popular Posts