Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst Co…
Video Rating: 4 / 5

Not all doom and gloom. The professor of economics on America’s banking reforms, the risk of deflation in advanced economies and China’s growth.

55 Responses to “Thomas Sowell — Basic Economics”

  • shawn m:

    You sir or maam are entiled to an opinion. How would you decribe yourself since you are so quick to judge others?

  • AKAlainey:

    19:16 *leans back* “Ha Ha ha ha ha”

  • carlindelco:

    No, the way bank were forced to loan, was the real culprit. The mortgages were being traded in a combination of a game called hot potato and trying to dilute the the poison of the sub prime.

  • carlindelco:

    Love Professor Sowell. ” When someone removes a cancer, what do you replace it with?” LMAO

  • WayWeary:

    Sowell is ignoring the fact that the way mortgages are handled and traded has changed a lot in the last 100 years and that is a large part of what caused the housing bubble.

  • gary morrison:

    Maybe the reason Sowell has felt compelled and paid very well to spent so much time defending his conception of Economics is that Economics has not produced a shred of useful knowledge in over a century Economics has failed to explain prove predict or discover anything but its own strange subculture. He should have sought a more useful education for himself if wanted to be taken seriously.

  • Neufdaddy:

    Are you kidding….Sowell is a brilliant guy…..I guess he just doesn’t have the Marxist message you so admire

  • Onieracraft:

    I wouldn’t be surprised if he did take advantage of it. a number of people in Libertarian circles DID see the housing bust coming. Do a Youtube search for a video called “Peter Schiff was right”. After you watch it, look for Yotutube vids with Peter Schiff and Thomas Sowell together and you will see that they are friends.

    Sowell was actually one of Schiff’s heroes growing up.

  • PFB1994:

    I’m surprised this guy can tie his own shoes he is so lost and stupid.

  • PFB1994:

    I guess Sowell was so smart that he saw the housing boom problem coming, invested wisely, and made boatloads of money. Or maybe he’s just a Monday Morning Quarterback.

  • Jesse B:

    That’s hilarious!!!

  • Jesse B:

    Dismantled…I love it. Sowell is an American legend and should be revered by all americans.

  • BroodjeEend:

    I feel like Sowell is a little harsh on the healthcare systems of other countries. It’s not as bad as he suggests.

  • prestigeworldwide141:

    who’s the interviewer? sounds brilliant in his own right

  • TheMagmagoblin:

    While he’s never been the head of his own business, I don’t see how that disqualifies him from supporting them. Besides teaching, he’s published dozens of books and hundreds of columns…being a writer might be considered the ultimate private business. Sowell has one of the most impressive resumes of any living person…Korean War vet, Western Union manager, steel cutter, photographer, and in ’48 nearly replaced Jackie Robinson in the Brooklyn Dodgers.

  • The Pursuit Of Knowledge:

    “Please explain mr. sowel the record economic expansion under Clinton??! ”

    Please explain, Mr. Juvserr, the Financial collapse of 2008?

    “Slick Willy’s repeal of Glass-Steagall due to heavy lobbying.”

    Thank you and goodnight. That adulterer single-handedly caused the collapse of 2008 you braindead moron.

  • DanO:

    I believe he’s right on every issue except for our trade balance. He says that it’s not bad for the economy because Americans aren’t forced to buy these cars from South Korea. Well, in a sense, they are being incentivized to do so because of the current benefits of consumption over savings. Buying finished consumer products from China doesn’t help expand our economy. Trade that would help our economy is capital investment, such as buying iron ore to manufacture and sell to other countries.

  • Uhkilleez:

    You’re all wrong. The huge expansion of jobs under the Clinton administration despite his raises in taxes was due to a technological boom, which in turn created a need for productivity as well as a premise for safe investments which would in turn produce large amounts of profit and in turn create wealth. The booming 90s were by appearances great despite government intervention and not because of it.


    without the media covering his ass – Obama would be nothing

  • PFB1994:

    What private business has this guy run?

  • DaBearsManiac:

    You could replace the Fed with independent clearing houses that could compete and issue traveler’s checks to banks in which a common currency could be issued to the public.

  • gary morrison:

    Capitalism is the light of liberty shining above the darkness of human nature. Unfortunately it is necessarty to hold several million people hostage to a profit driven prison industry in the process of protecting the property of the virtuous haves from the morally inferior have nots. On the subject of “back to the caves”, what can you tell us about the Hoover Institution?

  • 1Skeptik1:

    Great point – away with capitalism, back to the caves for us all!

  • adamatomic41:

    Yes, and I’m sure that was all due to him.. he is the king, right?

  • drstrangelove09:

    Hmmmm… I was starting to think that Sowell made sense….  :(

  • Umer Ahmad:

    It is requested to complete the questionnaire and spread it, THE RESPONDENT MUST BE EMPLOYED. it is for an academic research.

    Don’t attempt it, if you are a student and doesnt have any experience. THIS QUESTIONNAIRE IS NOT FOR STUDENTS!!!!!!

  • antonKASA2007:

    there is no more salvation of the economy using the old ddead system and money printing but there should be a whole new world good sytem because the present one has died and specially in the west there is no more meat but sceleton in the dead world system inside the grave,because the worms eat it faster in the west side of the grave because they were to many big worms there

  • CPS123456:

    Nouriel has been predicting economic chaos for the past 10 years. He is bound to succeed, eventually…

  • Jim Walsh:

    This tea malarkey is very gay.

  • Thentherewasgr8ness:

    I wish these intellects had a more established presence within general media, the world’s IQ would increase ten fold if such refined knowledge was more accessible to the wider population

  • StrangeYoghurt:

    You are extremely intelligent and well educated.

  • sadhaklal:

    Ok he knows his stuff… 

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  • ChixRChattel:

    um The Economist never prints names of the writers…thats so we dont find out they all heebs or darkies…who cares what the pack of untermensch has to say…not gonna chg the fact that NAZIs gonna RULE SOON

  • ChixRChattel:

    um jews sort of make me sick…sorry (um not really sorry)

  • whoo689:

    I hate the fact that The Economist has such a misnomer name. :P change it! Your magazine’s not that much about economics as just politics and global affairs in general. Let a more economics-oriented magazine have the title.

  • ChixRChattel:

    Need 2 git 2 the store and pick up a bottle of jew-b-gone !

  • hemmi79:

    Well if you eliminate possibly talented people purely on racist grounds, let me know the name of your company and I will be careful not to risk my money doing business with it.

  • redarrowhead2:

    you should probably learn to construct sentences before saying you won’t hire him or her or whoever based on preconditions of race

  • hymnofashes:

    ‘ChixRChattel’ doesn’t like Jews. Amazing what crawls out on the internet. Please go hang yourself.

  • hymnofashes:

    he drinks the tea.

  • joel1923:

    Have to be honest: I hate the red tea set. 0_0

  • Lucky Mark:

    Larry Summers has already stepped down from his government post. I like Dr. Doom because he correctly predicted the great recession to hit the US and the Global starting in 2008.

    I think the Doctor likes his job at NYU.

  • ChixRChattel:

    @onecoolgreek um roubini looks sort of heebie, i wdnt hire anyone that liked that jewish (yuck)… ok, truth is i just wdnt hire a jew period (period)

  • smokenfly514:

    HAHA they’re literally having tea!

  • Vannessa Coonrod:

    It would be great if we could get Larry Summers out and Professor Roubini into government service.

  • waldentree:

    He’s so right about China. Australia will be affected big time.

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