Thomas Sowell is an American economics guru, social theorist, political philosopher and author.
He writes as an advocate of the free market system, his political views are often labeled as Libertarian.
Thomas Sowell has won several awards for his books and essays in economics and is currently a senior fellow of the Hoover Institution at Stanford University.
In the short video above, Thomas Sowell explains his thoughts on Government Economic Intervention.
Thomas Sowell was born June 30, 1930 in Gastonia, North Carolina. For a young African-American boy, Sowell had a very hard childhood, his father died before he was born, and Sowell's mother, a maid, already had four children. He was later adopted by his great-aunt.
When Sowell was eight, his family moved from North Carolina to a neighborhood in Harlem, New York. He became the first in his family to have an education beyond sixth grade by attending High School.
However, due to a deteriorating home environment and financial problems, he was forced to dropped out of high school at the age 17.
Shortly after leaving high school, he tried out for the Brooklyn Dodgers. He did not do so well, in fact he did so poorly fielding in the tryout, they sent him home without letting him him hit.
At the age of 21, Sowell was drafted into the Korean War, he was assigned to be a photographer in the US Marine Corps.
After he was discharged from the Marines, he attended night classes at Howard University despite the fact that he did not graduate from high school.
His high grades on College Board exams and recommendations by his professors helped him to be accepted by Harvard University.
In 1958 he graduated, with a Bachelor of Arts degree in economics.
In addition, he received a Master of Arts in economics from Columbia University in 1959 and a PhD. in economics from the University of Chicago in 1968.
In the video to the left, Thomas Sowell talks about growing up in Harlem and his time in College.
Thomas Sowell has taught economics at Howard University, Cornell, Amherst College, and UCLA.
Since 1980 he has been a Senior Fellow of the Hoover Institution at Stanford University, where he holds a fellowship named after Rose and Milton Friedman, his mentor.
Early in his writing career, Thomas Sowell stated that he was a Marxist and approved of Marxian economics.
These beliefs changed after he worked as an intern for the federal government in the summer of 1960. He rejected the Marxist views of economics in favor of free market economics and principles.
During his work as a government intern, Sowell discovered a correlation between the rise of mandated minimum wages for workers in the sugar industry and the rise of unemployment in that industry.
Studying the patterns led him to theorize that the politicians who passed the minimum wage laws cared more about their own jobs than the plight of the poor.
In the video to the right, Mr. Sowell describes the fallacies in today's government statistics.
Among his many works advocating the "Free Market;" He wrote in a 2002 article in, Capitalism Magazine: Titled - From Marxism to Free Market
"Anyone who saw the contrast between East Berlin and West Berlin, back in the days when half the city was controlled by the Communists, can have no doubts as to which system produces more economic benefits for ordinary people.
Even though the people in both parts of the city were of the same race, culture and history, those living under the Communists were painfully poorer, in addition to having less freedom."
Thomas Sowell's website : www.tsowell.com
Economics Guru - Thomas Sowell's Articles & Commentary
Note: All of these articles were first posted on the Homepage.Thomas Sowell - Random Thoughts
For the Best Bullion Market News...