“Why anyone would expect better decisions to be made by third parties who pay no price for being wrong is one of the mysteries of our time.” — Thomas Sowell Sowell’s point is that incentives matter. People tend to be more careful and make better decisions when they have to bear the consequences, as a wrong move can cost them dearly. Third parties face much weaker incentives because they make decisions for others while bearing little, if any, cost when those decisions go wrong. The further decision-makers are removed from the consequences of their choices, the less incentive they have to weigh costs and trade-offs carefully.

“I am so old that I can remember when other people’s achievements were considered to be an inspiration, rather than a grievance.” — Thomas Sowell