Quote of the day 28th June 2025

No apology for repeating, not for the first time or, probably, the last, one of Thomas Sowell's insights which I think is particularly powerful in a whole host of spheres, not just economics and politics.

It is very rare indeed- though when such an opportunity does come along, it should be grabbed with both hands - that you can improve something with no negative consequences at all.

Most opportunities to improve one thing come with a cost in terms of something else. The challenge is to ensure that you pick the trade-offs where the benefits outweigh the costs - and do your best to limit the damage in those areas where you lose out.




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