Gad Saad F**king Loves Thomas Sowell: the OG of Smacking Bullshitters Into Reality

Is there a better economist anywhere than Thomas Sowell?

Thomas Sowell is a wonderful example of how facts and logic can prevail against any form of toxic ideology on a long enough timeline.

Earlier in life, Sowell was a very vocal Marxist, the last person you would think would crush common myths on economic inequality and other common issues. In present times, Sowell has been a thought leader for pro-capitalism ideals and has helped guide many people along the right path in terms of economic education. Unphased by this personal transition, Sowell calmly stated that he was merely enlightened by facts. He also noted that other people like Ronald Reagan went through similar transitions.

Cultural Marxists have very dangerous and illogical ideas, which have slowly been damaging the social and economic structures of the economy. These ideas cause more suffering, and people in turn use this suffering as justification for how capitalism has failed societies. Without preventive measures, this damage will continue to compound, until the US economy is unrecognizable.

Gad Saad has been another heroic force in this space, who has squashed Marxists and presented the Western world with a healthy dose of reality and sanity. He recently praised some of Thomas Sowell’s efforts, noting that Sowell was very skilled at bringing bullshitters back to reality with sound economic facts.

Gad Saad Praises Thomas Sowell

Gad Saad, one of the strongest thought leaders in academia, recently shared a video of a Thomas Sowell interview and praised his ideals. In this video, Sowell humorously shared the one thing that helped turn him away from Marxism: facts.

Thomas Sowell is an extraordinary case as he went from being a Marxist to one of the strongest common-sense voices promoting the case for capitalism. However, Sowell also humbly admitted that this transition was common among many other people.

“Most of the leading conservative thinkers of our time did not start off as conservatives. You had a couple like Bill Buckley and George Will. Milton Friedman was a liberal and a Keynesian. Ronald Reagan was so far left at one point the FBI was following him.”

Thomas Sowell has been an excellent conservative voice who has exposed many of the gaps in arguments made by the left. In this legendary quote, Sowell provides a basic framework of how to debunk the left, as many of their ideas can’t pass this simple litmus test.

“I often said there are three questions that I think would destroy most arguments on the left. And the first is, “Compared to what?”. The second is “At what cost?”, and the third is “What hard evidence do you have?”.”

Sowell has done an excellent job explaining the difference between conservative and liberal thinking. Conservatives generally focus on trade-offs and maximizing success and they are content knowing that all systems in the world are not perfect. This is a more realistic approach that allows an individual to aim for the highest possible success and accept the inevitable shortcomings that imperfect systems produce. On the other hand, liberals are much more focused on ideals and proclaimed goals, thus making them less likely to consider the costs and consequences of certain actions.

When it comes to many issues, like renewable energy, housing solutions, immigration, and other economic policies, many of the solutions posed by political parties fail to answer these three questions adequately. Because many people are focusing on absolutes, instead of focusing on risks and trade-offs, the population thus becomes more vulnerable to populism and illogical thinking. It is no wonder that the political system has failed to provide any type of economic solution and that these systems even create greater issues over time.

Mythbusting Inequality

One of the common lies that has become more prevalent in the United States is the claim that minority groups are victims of inequality. Cultural Marxists have used this theory as a pretext to attempt to overthrow capitalism and push back against the US economy’s success in the past few decades.

Sowell, a former Marxist, was easily able to debunk this erroneous assumption through the power of facts. In articles and interviews, he has given examples of many minority groups that have been successful in history, including Jews, Chinese in Malaysia, Indians in Africa, and Cubans in the United States. Asians have also been very successful in the United States recently, defying this misguided idea about inequality.

Many politicians have continued to run on this false premise when they deliver populist promises during their campaigns. Government intervention in areas like rent controls, and even Kamala Harris’ recent plan to provide money for down payments for houses, are all disconnected from reality.

Sowell also recently showed how this intervention has historically not had a strong impact, and how cities with strong measures like these have had the worst issue with rent prices.

“New York and San Francisco have very long rent control laws. Old ones and severe ones. Yet when you look at the cities with the highest rents in the country of any major cities, they are number one New York, and number two San Francisco.”

In an environment with excessive rent control laws, the free market will take over through supply reductions. Fewer companies will want to operate in this environment, resulting in negative consequences for the real estate market. During an interview, Sowell mentioned that more people were living in NYC before rent controls. In cases like this, supply-side solutions are much more relevant, and price-control solutions never work.

Tackling the Federal Reserve

Thomas Sowell has also been very vocal about how he opposes the Federal Reserve and has voiced how he agrees with individuals like Ron Paul. During a recent interview, Sowell confirmed that he would abolish the Federal Reserve if it were up to him.

“The Fed represented wonderful hopes, but we’ve had so many programs that represented wonderful hopes that ended in disasters. I don’t doubt that someone who is sufficiently scholarly could come up with examples of where the Federal Reserve made things better. But the question is, overall, what was it supposed to do? What it was supposed to do….not only prevent bank failures, it was supposed to prevent huge changes in the money supply and in particular great deflations. The greatest deflation system in history occurred under the Federal Reserve.”

Sowell pointed out how the Fed was behind the great depression, and how it still fails to perform some of its core duties today. The money supply has expanded substantially since 2020, which displays how the Fed has moved away from its core purpose. Citing issues that occurred during previous periods is absolutely irrelevant when the Fed is obviously out of line with its current actions. Sadly, we have only just begun to taste the inflationary consequences of the Fed’s actions since 2008.

Sowell also noted that the policies of the Federal Reserve made it easier for the Obama administration to rack up more national debt. The American public has had to pay the price of the country’s soaring debt and the Fed’s massive money printing spree. Inflation has been a substantial issue in the 2020s, and sadly things are not likely to be over if we keep increasing our debt and money supply.

May Common Sense Prevail

As Thomas Sowell stated, many of the programs with the best intentions have created the worst outcomes in society. Most of the dangerous and toxic ideologies in society are based upon a person having good intentions and wanting to improve the world. However, intentions are 100% irrelevant if one is unwilling to put their ideology through a basic logic test to ensure that it is intellectually sound. A move toward an honest discussion about trade-offs would be more healthy for our political, social, and economic situation in the United States.

The free market is a powerful force that can rectify many economic issues. Consequently, many governments who attempt to solve issues struggle with the Cobra effect, which ends up resulting in nasty, unintended consequences. The solution, as always, is less government intervention.

The real solutions that our country needs right now have nothing to do with political parties or ideology. We need to cut government spending and stop increasing the money supply in order to combat inflation. Other issues, like the housing markets, could address themselves if we eliminate regulations and let the free market step in via supply-side solutions. Once people see real economic solutions at work, they may be less vulnerable to the toxic influence of cultural Marxism.