Prager University: Free Market Morality - YouTube
Walter Williams is another of my favorite economists. He's a UCLA Ph.D. who's been at George Mason University for years.
Showing posts with label Walter Williams. Show all posts
Showing posts with label Walter Williams. Show all posts
Monday, November 12, 2012
Saturday, April 21, 2012
Good Economists - Walter E. Williams
Good Economists - Walter E. Williams - Townhall Conservative Columnists - Page 1
EXCERPTS:
"It's difficult to be a good economist and simultaneously be perceived as compassionate. To be a good economist, one has to deal with reality. To appear compassionate, often one has to avoid unpleasant questions, use "caring" terminology and view reality as optional.
*****
"You say, "Williams, the White House and Congress should do something." The track record of doing nothing is pretty good compared with doing something. None of our economic downturns in the century and a half prior to 1930 lasted as long as the Great Depression."
EXCERPTS:
"It's difficult to be a good economist and simultaneously be perceived as compassionate. To be a good economist, one has to deal with reality. To appear compassionate, often one has to avoid unpleasant questions, use "caring" terminology and view reality as optional.
*****
"You say, "Williams, the White House and Congress should do something." The track record of doing nothing is pretty good compared with doing something. None of our economic downturns in the century and a half prior to 1930 lasted as long as the Great Depression."
Monday, May 31, 2010
The minimum wage law and its effect on poor people - who do you think is right?
EXCERPT from a statement by Congressman Eni Faleomavaega (representative from the territory of American Samoa in the United States Congress since 1989) in a response to an article by economist Walter Williams:
"...shame on Walter Williams for asking ‘Which is preferable for the Samoan worker – being employed at $3.25 an hour or being unemployed at $5.25?'
“What is preferable is to do right by poor people. Anything less, including ‘breathtakingly stupid’ comments which imply that poor people should be treated like second class citizens have no place in public debate.”
COMMENT:
I encourage you to read the entire statement posted by Congressman Faleomavaega, then read the article by Walter Williams that provoked the congressman's outrage.
Questions:
Is Williams suggesting that poor people should be treated like second-class citizens?
Why is Williams opposed to raising the minimum wage? Is it because he wants to help businesses and keep poor people poor, or is it because he believes that the consequences of raising the minimum wage will harm the poor people the congressman for whom he is professing concern?
For each of these writers, ask yourself, "is he giving me a thoughtful analysis of the consequences which can be expected to result from a higher minimum wage, or is he simply expressing a desire that poor people be better off without considering whether a higher minimum wage will actually make those people better off or worse off?
"...shame on Walter Williams for asking ‘Which is preferable for the Samoan worker – being employed at $3.25 an hour or being unemployed at $5.25?'
“What is preferable is to do right by poor people. Anything less, including ‘breathtakingly stupid’ comments which imply that poor people should be treated like second class citizens have no place in public debate.”
COMMENT:
I encourage you to read the entire statement posted by Congressman Faleomavaega, then read the article by Walter Williams that provoked the congressman's outrage.
Questions:
Is Williams suggesting that poor people should be treated like second-class citizens?
Why is Williams opposed to raising the minimum wage? Is it because he wants to help businesses and keep poor people poor, or is it because he believes that the consequences of raising the minimum wage will harm the poor people the congressman for whom he is professing concern?
For each of these writers, ask yourself, "is he giving me a thoughtful analysis of the consequences which can be expected to result from a higher minimum wage, or is he simply expressing a desire that poor people be better off without considering whether a higher minimum wage will actually make those people better off or worse off?
Tuesday, March 23, 2010
Who Poses the Greater Threat? - Walter E. Williams
EXCERPT:
"Bill Gates is the world's richest person, but what kind of power does he have over you? Can he force your kid to go to a school you do not want him to attend? Can he deny you the right to braid hair in your home for a living? It turns out that a local politician, who might deny us the right to earn a living and dictates which school our kid attends, has far greater power over our lives than any rich person. Rich people can gain power over us, but to do so, they must get permission from our elected representatives at the federal, state or local levels. For example, I might wish to purchase sugar from a Caribbean producer, but America's sugar lobby pays congressmen hundreds of thousands of dollars in campaign contributions to impose sugar import tariffs and quotas, forcing me and every other American to purchase their more expensive sugar."
"Bill Gates is the world's richest person, but what kind of power does he have over you? Can he force your kid to go to a school you do not want him to attend? Can he deny you the right to braid hair in your home for a living? It turns out that a local politician, who might deny us the right to earn a living and dictates which school our kid attends, has far greater power over our lives than any rich person. Rich people can gain power over us, but to do so, they must get permission from our elected representatives at the federal, state or local levels. For example, I might wish to purchase sugar from a Caribbean producer, but America's sugar lobby pays congressmen hundreds of thousands of dollars in campaign contributions to impose sugar import tariffs and quotas, forcing me and every other American to purchase their more expensive sugar."
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