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Home » Thomas Sowell: Facts Against Rhetoric, Capitalism, Culture and Yes, the Tariffs (Transcript)

Thomas Sowell: Facts Against Rhetoric, Capitalism, Culture and Yes, the Tariffs (Transcript)

Read the full transcript of economist and author Thomas Sowell’s interview on Uncommon Knowledge with Peter Robinson episode titled “Facts Against Rhetoric, Capitalism, Culture and Yes, the Tariffs” on April 1, 2025.

The interview starts here:

PETER ROBINSON: One guest on this program, one, is more requested by far than any other. Thomas Sowell on Uncommon Knowledge now. Welcome to Uncommon Knowledge. I’m Peter Robinson. Thomas Sowell lived in Gastonia, North Carolina to the age of nine, when his family moved to Harlem. After attending New York City public schools, Thomas Sowell worked in machine shops, tried out for the Brooklyn Dodgers, moved to Washington D.C. to join the civil service, became a United States Marine, and finally settled into a track in higher education that would take him from Howard University to Harvard University, where he received his undergraduate degree, to Columbia, where he earned his master’s, and then to the University of Chicago, where he earned his doctorate in economics. After teaching at institutions including Douglas, Cornell and UCLA, Dr. Sowell joined the Hoover Institution here at Stanford, where he has remained a senior fellow at the Hoover Institution for more than four decades. Dr. Sowell is the author of thousands, Literally, I checked this, thousands of newspaper and magazine columns and of some five dozen books. His newest project is a website, Facts Against Rhetoric, which you can find at factsagainstrhetoric.org we’re announcing this website today in this podcast for the very first time, so let me repeat it. Facts against rhetoric.org; Tom, welcome back.

THOMAS SOWELL: Good being here.

Education Despite College

PETER ROBINSON: Tom, your website, I’ve spent hours with it now. It represents a kind of syllabus or curriculum for the right way, the correct way to think about modern life, with topics ranging from culture to economic issues, to education, to war and peace. Why did you go to the trouble of pulling these materials together? Wouldn’t students come across this material in ordinary college courses, in any event?

THOMAS SOWELL: No. I thought of it as enabling students to get an education despite being in college.

What Sounds Good vs. What Works

PETER ROBINSON: All right, questions. All my questions today are drawn from the website or use the website as a point of departure. Economic issues. Under the heading on the website of economic Issues, you provide a link to your classic work, Basic Economics. A brief passage from that book I’m quoting. Basic Economics. “Empirical questions are questions that must be asked if we are truly interested in the well being of others. Perhaps the most important distinction is between what sounds good and what works.” On the one hand, what sounds good. On the other, what works. Why is that distinction so important?

THOMAS SOWELL: I guess it was because rhetoric and visions play such a large part in higher education that the question of whether some vision is correct, what they believe is correct. I saw just recently a replay of something by AOC, the congresswoman from New York. And as I listened to her, I just was amazed that there seemed to be no factual issue. As far as she’s concerned, she just pronounces things to be so, and that’s the end of it.

And unfortunately, I think many, too many, certainly college students and students in high school for that matter, are introduced to a certain vision of the world where, for example, the capitalists are exploiting the workers and so on, and they just memorize that, and they talk about it as if it’s a known fact. And there’s no developing in those students the ability to look at two different views and try to figure out which of them is correct.

To me, back when I was teaching, if I taught a course that had a lot of controversial stuff in it, I would spend a great deal of time putting together a reading list where I would find the strongest argument on one side of a particular argument and then the opposing view, the best example I could find of that. And I would then present that to the students. And when I tested them, I didn’t test them on which side you believed. I tested them on whether they understood the arguments on both sides. I suspect from what I see and hear that that is something that’s rarely done today in education at the college or high school level.

PETER ROBINSON: I see. So the old fashioned principle of teaching, which is that before you make up your mind where you stand, you make sure you understand where the other person stands first. Yes. All right, Tom, again, on your website, factsagainstrhetoric.org you provide a reading list, but you also provide links to a number of videos and podcasts. Here’s one. This is a link to your old professor at the University of Chicago and then for many years, your colleague here at the Hoover Institution, Milton Friedman. In this video to which you link on your website, Milton is addressing the question, is capitalism humane? Take a look at this, if you would, with me, Tom.

“It’s true that if you had a concentrated power in the hands of an angel, he might be able to do a lot of good as he viewed it. For one man’s good is another man’s bad. And the great virtue of a market capitalist society is that by preventing a concentration of power, it prevents people from doing the kind of harm which really concentrated power can do. So that I conclude that capitalism per se is not humane or inhumane. Socialism per se is not humane or anything. But capitalism tends to give free reign, much freer reign, to the more humane values of human beings. It tends to develop a climate which is more favorable to the development, on the one hand, of a higher moral atmosphere of responsibility and on the other, to greater achievements in every realm of human understanding.”

Capitalism and Morality

PETER ROBINSON: Thank you.