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Keyword: walterewilliams

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  • Data Proves that Slavery has Little to do with the Current Plight of African-Americans

    06/30/2015 3:33:42 PM PDT · by robowombat · 51 replies
    Eagle Rising ^ | 24 June 2015 | Onan Coca
    Data Proves that Slavery has Little to do with the Current Plight of African-Americans By Onan Coca / 24 June 2015 / The brilliant economist and political thinker (and Professor at George Mason University) Walter E. Williams has a new column up at CNS News discussing modern black America. Professor Williams is a conservative African-American who is often at odds with the liberal orthodoxy on the problems within the black community, and his latest commentary is no different. In his latest effort, Williams discusses the mythology that has arisen around the current problems in the black community – particularly fatherlessness,...
  • Walter E. Williams on Government-Induced, Economic Slavery

    05/14/2015 1:38:07 PM PDT · by impetrio1 · 3 replies
    Black & Blonde Media ^ | 5/14/15 | Bob Parks and Laura Erickson
    In the second part of an exclusive interview with B&B Media, Professor Walter E. Williams explains how the government’s ability to force one individual into giving his or her property (taxes) to another is, in essence, slavery.
  • Walter Williams: Ferguson/Baltimore About Failed Economic Policies; Not Race

    05/13/2015 9:34:44 AM PDT · by impetrio1 · 15 replies
    Black & Blonde Media ^ | 5/13/15 | Bob Parks and Laura Erickson
    In the first installment of an exclusive interview with B&B Media, Professor Walter E. Williams (George Mason University) claims the recent unrest in Ferguson and Baltimore was not an outcome of racism but failed economic policies that plague America.
  • Three Cheers for Profits and Free Markets

    04/08/2015 3:43:53 PM PDT · by Kaslin · 9 replies ^ | April 8, 2015 | Daniel J. Mitchell
    What’s the most important factor for economic progress? There are several possible answers to that question. We can take a big-picture view and argue that the key is free markets and small government, and there certainly is lots of evidence in favor of this assertion when you compare countries over time. But what if we narrow our focus and try to identify, for instance, the key characteristic of a free market. At times, I’ve highlighted the importance of both property rights and the price system. Private property gives people the right incentives to both produce and conserve, a lesson learned...
  • Africa: A Tragic Continent

    10/28/2014 7:25:58 AM PDT · by rktman · 27 replies ^ | 10/28/2014 | Walter Williams
    Though there's a strong case for us to help with the Ebola crisis, the worst thing Westerners could do to Africa would be to send more foreign aid. Foreign aid provides the financial resources that enable Africa's grossly corrupt and incompetent regimes to buy military equipment, pay off cronies and continue to oppress their people. It also provides resources for the leaders to live lavishly and set up "retirement" accounts in foreign banks.
  • Williams: America's Budding Tyrants

    05/19/2014 9:54:51 AM PDT · by jazusamo · 12 replies
    Creators Syndicate ^ | May 21, 2014 | Walter E. Williams
    From the Nazis to the Stalinists, tyrants have always started out supporting free speech, and why is easy to understand. Speech is vital for the realization of their goals of command, control and confiscation. Basic to their agenda are the tools of indoctrination, propagandizing, proselytization. Once they gain power, as leftists have at many universities, free speech becomes a liability and must be suppressed. This is increasingly the case on university campuses. Back in 1964, it was Mario Savio, a campus leftist, who led the free speech movement at the Berkeley campus of the University of California, a movement that...
  • Sex and Race Equality

    04/02/2014 6:14:15 AM PDT · by Kaslin · 8 replies ^ | April 2, 2014 | Walter E. Williams
    There are several race and sex issues that need addressing. Let's look at a few of them with an ear to these questions: Should we insist upon equal treatment of people by race and sex or tolerate differences in treatment? And just how equal are people by race and sex in the first place? According to the National Institutes of Health, male infants 1 to 3 months old should be fed 472 to 572 calories per day, whereas their female counterparts should receive 438 to 521 calories per day ( That's an official sex-based caloric 10 percent rip-off of...
  • Touchy Topics

    09/04/2013 1:56:58 AM PDT · by Kaslin · 4 replies ^ | September 4, 2013 | Walter E. Williams
    Here's a question: What is the true test of one's commitment to freedom of expression? Is it when one permits others to express ideas with which he agrees? Or is it when he permits others to express ideas he finds deeply offensive? I'm betting that most people would wisely answer that it's the latter, and I'd agree. How about this question: What is the true test of one's commitment to freedom of association? Is it when people permit others to freely associate in ways of which they approve? Or is it when they permit others to freely associate in ways...
  • Academic Dishonesty

    09/19/2012 4:00:36 AM PDT · by Kaslin · 24 replies ^ | September 19, 2012 | Walter E. Williams
    Many of the nation's colleges and universities have become cesspools of indoctrination, intolerance, academic dishonesty and an "enlightened" form of racism. This is a decades-old trend. In a 1991 speech, Yale President Benno Schmidt warned: "The most serious problems of freedom of expression in our society today exist on our campuses. The assumption seems to be that the purpose of education is to induce correct opinion rather than to search for wisdom and to liberate the mind." Unfortunately, parents, taxpayers and donors have little knowledge of the extent of the dishonesty and indoctrination. There are several clues for telling whether...
  • The Rich Don't Pay Enough?

    08/29/2012 10:56:14 AM PDT · by Kaslin · 20 replies ^ | August 29, 2012 | Walter E. Williams
    If you listen to America's political hacks, mainstream media talking heads and their socialist allies, you can't help but reach the conclusion that the nation's tax burden is borne by the poor and middleclass while the rich get off scot-free. Stephen Moore, senior economics writer for The Wall Street Journal, and I'm proud to say former GMU economics student, wrote "The U.S. Tax System: Who Really Pays?" in the Manhattan Institute's Issue 2012 (8/12). Let's see whether the rich are paying their "fair" share. According to IRS 2007 data, the richest 1 percent of Americans earned 22 percent of national...
  • Obama's Educational Excellence Initiative

    08/15/2012 3:49:51 AM PDT · by Kaslin · 6 replies ^ | August 15, 2012 | Walter E. Williams
    President Barack Obama recently wrote an executive order that established a White House initiative on educational excellence for black Americans that will be housed in the Department of Education. It proposes "to identify evidence-based best practices" to improve black achievement in school and college. Though black education is in desperate straits, the president's executive order will accomplish absolutely nothing to improve black education. The reason is that it does not address the root causes of educational rot among black Americans. It's not rocket science; let's look at it. The president's initiative contains not one word about rampant inner-city school violence,...
  • Liberals, Progressives and Socialists (Walter Williams)

    08/06/2012 10:33:37 AM PDT · by jazusamo · 31 replies
    Creators Syndicate ^ | August 8, 2012 | Walter E. Williams
    In Europe, especially in Germany, hoisting a swastika-emblazoned Nazi flag is a crime. For decades after World War II, people have hunted down and sought punishment for Nazi murderers, who were responsible for the deaths of more than 20 million people. Here's my question: Why are the horrors of Nazism so well-known and widely condemned but not those of socialism and communism? What goes untaught — and possibly is covered up — is that socialist and communist ideas have produced the greatest evil in mankind's history. You say, "Williams, what in the world are you talking about? Socialists, communists and...
  • How Times Have Changed

    07/31/2012 2:18:50 PM PDT · by jazusamo · 11 replies
    Craetors Syndicate ^ | August 1, 2012 | Walter E. Williams
    Having been born in 1936 has allowed me to witness both societal progress and retrogression. High on the list of things made better in our society are the great gains in civil liberties and economic opportunities, especially for racial minorities and women. People who are now deemed poor have a level of material wealth that would have been a pipe dream to yesteryear's poor. But despite the fact that today's Americans have achieved an unprecedented level of prosperity, we have become spiritually and morally impoverished compared with our ancestors. Years ago, spending beyond one's means was considered a character defect....
  • The NOT Rush Limbaugh LIVE Radio Show Thread - Thursday, July 5, 2012

    07/05/2012 8:01:09 AM PDT · by IMissPresidentReagan · 103 replies
    The EiB Network ^ | 07/05/2012 | Rush Limbaugh
    AND NOW . . . amidst billowing clouds of fragrant, aromatic first- and second-hand premium cigar smoke. . . it is time for . . . that harmless, lovable little fuzz ball, the highly-trained broadcast specialist, having more fun than a human being should be allowed to have, from behind the golden EIB microphone, firmly ensconced in the prestigious Attila-the-Hun chair at the Limbaugh Institute of Advanced Conservative Studies, serving humanity simply by showing up, and he’s not retiring until every American agrees with him, do NOT doubt him, with shrieks of joy at the mere mention of his name...
  • The Underclass (Walter Williams)

    07/02/2012 9:27:49 AM PDT · by jazusamo · 11 replies
    Creators Syndicate ^ | July 2, 2012 | Walter E. Williams
    Anthony Daniels, who writes under the pen name Theodore Dalrymple, is a retired prison doctor and psychiatrist who tells of his experiences with his patients in "Life at the Bottom." It's an insightful book of essays about the self-destructive behavior and attitudes of the underclass. In one essay, "We Don't Want No Education," reprinted by City Journal (, Dalrymple says that he cannot recall meeting a 16-year-old from the public housing project near his hospital who could perform simple multiplication operations, such as nine times seven. One 17-year-old told him, "We didn't get that far." This was after 12...
  • [from 2010 and Still Applies] Parting Company

    06/29/2012 7:18:52 PM PDT · by Bearshouse · 40 replies ^ | 4/7/2010 | Walter E. Williams
    Here's the question asked in my September 2000 column titled "It's Time To Part Company": "If one group of people prefers government control and management of people's lives and another prefers liberty and a desire to be left alone, should they be required to fight, antagonize one another, risk bloodshed and loss of life in order to impose their preferences or should they be able to peaceably part company and go their separate ways?" The problem that our nation faces is very much like a marriage where one partner has broken, and has no intention of keeping, the marital vows....
  • Economic Chaos Ahead

    02/08/2012 4:16:52 AM PST · by Kaslin · 49 replies ^ | February 8, 2012 | Walter E Williams
    Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenues will go for Social Security and Medicare payments. The unfunded liability of both programs is already $106 trillion.But not to worry. The Congressional Budget Office estimates that it's possible to sustain today's level of federal spending and even achieve a balanced budget. All...
  • Ending Income Inequality?

    12/01/2011 10:38:15 AM PST · by ReformationFan · 8 replies
    Jewish World Review ^ | 11-30-11 | Walter E. Williams
    Benefiting from a hint from an article titled "Is Harry Potter Making You Poorer?", written by my colleague Dr. John Goodman, president of the Dallas-based National Center for Policy Analysis, I've come up with an explanation and a way to end income inequality in America, possibly around the world.
  • Walter E Williams predicts an OBAMA win in 2012, and here is why: BOGUS! SEE LINK

    04/24/2011 3:07:21 PM PDT · by The Magical Mischief Tour · 95 replies
    Walter E. Williams ^ | 04/2011 | Walter E. Williams
    <p>Walter E. Williams, (born 1936 in Philadelphia , Pennsylvania ) is a conservative American economist, commentator, and academic. He is the John M Olin Distinguished Professor of Economics at George Mason University , as well as a syndicated columnist and author.</p>
  • Why would OPEC give money to the American environmental left? Walter E. Williams explains (Audio)

    04/23/2011 12:48:32 PM PDT · by Rufus2007 · 9 replies
    The Daily Caller ^ | April 23, 2011 | Jeff Poor
    As gas prices approach $5 a gallon, and some even predict $6 a gallon by summer, the White House has launched an investigation into what is causing the rapid price surge. But on Thursday’s “Mark Levin Show,” George Mason University economist Walter E. Williams said no investigation was necessary since the cause of the spike in energy prices was obviously the fault of Washington politicians listening to “environmental wackos.” “And actually, you know – collusion, if you look for the source of collusion – it’s in Washington, D.C.,” Williams said. “The federal government is in charge of colluding, you know...
  • Economic Lunacy

    03/23/2011 4:40:11 AM PDT · by Kaslin · 6 replies ^ | Walter E. Williams
    Economic lunacy abounds, and often the most learned, including Nobel Laureates, are its primary victims. The most recent example of economic lunacy is found in a Huffington Post article titled "The Silver Lining of Japan's Quake" written by Nathan Gardels, editor of New Perspectives Quarterly, who has also written articles for The Wall Street Journal, Los Angeles Times, New York Times and Washington Post. Mr. Gardels says, "No one -- least of all someone like myself who has experienced the existential terror of California's regular tremors and knows the big one is coming here next -- would minimize the grief,...
  • Democracy Versus Liberty

    02/22/2011 8:31:07 AM PST · by Marty62 · 8 replies ^ | unk | Walter E. Williams
    It is truly disgusting for me to hear politicians, national and international talking heads and pseudo-academics praising the Middle East stirrings as democracy movements. We also hear democracy as the description of our own political system. Like the founders of our nation, I find democracy and majority rule a contemptible form of government. You say, "Whoa, Williams, you really have to explain yourself this time!"
  • Can Our Nation Be Saved?

    01/27/2011 6:45:11 AM PST · by IbJensen · 36 replies
    CNS News ^ | 27 January 2011 | Walter Williams
    The national debt is over $14 trillion, the federal budget deficit is $1.4 trillion and, depending on whose estimates are used, the unfunded liability or indebtedness of the federal government (mostly in the form of obligations for Social Security, Medicare, Medicaid and prescription drugs) is estimated to be between $60 and $100 trillion. Those entitlements along with others account for nearly 60 percent of federal spending. They are what Congress calls mandatory or non-discretionary spending. Then there's discretionary spending, half of which is for national defense. Each year, non-discretionary spending consumes a higher and higher percent of the federal budget....
  • Walter Williams' Memoir (Thomas Sowell)

    12/07/2010 11:12:52 AM PST · by jazusamo · 70 replies
    Creators Syndicate ^ | December 7, 2010 | Thomas Sowell
      Walter E. Williams is my oldest and closest friend. But I didn't know that his autobiography had just been published until a talk show host told me last week. I immediately got a copy of "Up from the Projects," started reading it before dinner and finished reading it before bedtime.It is the kind of book that you hate to put down, even though I already knew how the story would end.The first chapter, about Walter's life growing up in the Philadelphia ghetto, was especially fascinating. It brought back a whole different era in black communities— an era that...
  • Minimum Wage, Maximum Folly

    12/01/2010 5:47:22 AM PST · by Kaslin · 24 replies · 2+ views ^ | December 1, 2010 | Walter E. Williams
    How about this: The law of gravity is applicable to the behavior of falling objects on the U.S. mainland but not applicable on our Pacific Ocean territories Samoa and Northern Mariana Islands. You say, "Williams, that's lunacy! Laws are applicable everywhere; that's why they call it a law." You're right, but does the same reasoning apply to the law of demand that holds: The higher the price of something, the less people will take of it; and the lower its price, the more people will take of it? The law of demand applies to wages, interest and rent because, after...
  • All Tax Hikes Eventually Hit Middle Class

    10/04/2010 5:58:32 PM PDT · by Kaslin · 12 replies
    IBD Editorials ^ | October 4, 2010 | WALTER WILLIAMS
    One of President Obama's campaign promises was not to raise taxes on middle-class Americans. So here's my question: If there's a corporate tax increase either in the form of "cap and trade" or income tax, does it turn out to be a middle-class tax increase? Most people would say no, but let's look at it. There's a whole subject area in economics known as tax incidence — namely, who bears the burden of a tax? The first thing that should be recognized is that the burden of a tax is not necessarily borne by the party upon whom it is...
  • Something for Nothing

    09/01/2010 5:16:26 AM PDT · by Kaslin · 5 replies · 1+ views ^ | September 1, 2010 | Walter E. Williams
    Perhaps the most difficult economic lesson is that we live in a world of scarcity and everything has a cost. Scarcity exists whenever human wants exceed the means to satisfy those wants. For example, Rolls-Royce produces less than 4,000 cars a year but it's a safe bet that more than 4,000 of the Earth's 6.5 billion people want a Rolls-Royce. That means Rolls-Royces are scarce. But it's not just Rolls-Royces that are scarce. It's clothing, food, land and most anything a human would want. There's not enough to meet every single want. Scarcity means there's no free lunch. Having more...
  • Racism Or Stupidity?

    07/26/2010 5:02:28 PM PDT · by Kaslin · 17 replies
    IBD Editorials ^ | July 26, 2010 | WALTER E. WILLIAMS
    A black or white person, now dead, who lived during the civil rights struggles of the 1930s, '40s or '50s, might very well be appalled and disgusted by black behavior accepted today. Yesteryear, it was the Klan or White Citizens Council who showed up at polling places to intimidate black voters. During the 2008 elections, it was the New Black Panthers who showed up at a Philadelphia polling place to intimidate white voters and tell them, "You are about to be ruled by the black man, cracker." What's worse is the U.S. Department of Justice has decided to not to...
  • Can Black Americans Afford Obama?

    06/09/2010 7:49:46 AM PDT · by Kaslin · 75 replies · 101+ views ^ | June 9, 2010 | Walther E. Williams
    My March 2008 column "Is Obama Ready for America?" started out: "Some pundits ask whether America is ready for Obama. The much more important question is whether Obama is ready for America and even more important is whether black people can afford Obama." Let's look at this. In 1947, Jackie Robinson, in signing a contract with the Brooklyn Dodgers, broke the color bar in Major League Baseball. In 1950, three blacks broke the color bar in the National Basketball Association (NBA): Earl Lloyd (Washington Capitals), Chuck Cooper (Boston Celtics) and Nat "Sweetwater" Clifton (New York Knicks). Their highly successful performances...
  • Immigration and Liberty

    05/19/2010 4:55:28 AM PDT · by Kaslin · 10 replies · 400+ views ^ | May 19, 2010 | Walter E. Williams
    My sentiments on immigration are expressed by the welcoming words of poet Emma Lazarus' that grace the base of our Statue of Liberty: "Give me your tired, your poor, your huddled masses yearning to breathe free." Those sentiments are probably shared by most Americans and for sure by my libertarian fellow travelers, but their vision of immigration has some blind spots. This has become painfully obvious in the wake Arizona's law that cracks down on illegal immigration. Let's look at the immigration issue step by step. There are close to 7 billion people on our planet. I'd like to know...
  • Why So Hostile To Principles Of Liberty?

    05/04/2010 5:21:12 PM PDT · by Kaslin · 4 replies · 365+ views ^ | May 4, 2010 | WALTER WILLIAMS
    Having recently reached 74 years of age, if one were to ask me what's my greatest disappointment in life, a top contender would surely be the level of misunderstanding, perhaps contempt, that black Americans have for the principles of personal liberty and their abiding faith in government. Contempt or misunderstanding of the principles of personal liberty and faith in government by no means make blacks unique among Americans. But the unique history of black Americans should make us, above all other Americans, most suspicious of any encroachment on personal liberty and most distrustful of government. Let's look at it. The...
  • Linking Voting Rights With Taxes Paid

    04/20/2010 4:58:25 PM PDT · by Kaslin · 35 replies · 633+ views ^ | April 20, 2010 | WALTER WILLIAMS
    According to the Tax Policy Center, a Washington, D.C., research organization, nearly half of U.S. households will pay no federal income taxes for 2009. That's up from the Tax Foundation's 2006 estimate that 41% of the American population, or 121 million Americans, were completely outside the federal income tax system. These Americans pay no federal income tax either because their incomes are too low or they have higher income but credits, deductions and exemptions that relieve them of tax liability. This lack of income tax liability stands in stark contrast to the top 10% of earners, those households earning an...
  • Parting Company (by Walter E. Williams)

    04/07/2010 9:09:26 AM PDT · by GregoTX · 69 replies · 1,890+ views
    Town Hall ^ | Walter E. Williams
    Here's the question asked in my September 2000 column titled "It's Time To Part Company": "If one group of people prefers government control and management of people's lives and another prefers liberty and a desire to be left alone, should they be required to fight, antagonize one another, risk bloodshed and loss of life in order to impose their preferences or should they be able to peaceably part company and go their separate ways?" The problem that our nation faces is very much like a marriage where one partner has broken, and has no intention of keeping, the marital vows....
  • Does U.S. Need To Split Along Political Lines?

    04/05/2010 5:15:07 PM PDT · by Kaslin · 246 replies · 4,251+ views ^ | April 5, 2010 | WALTER WILLIAMS
    Ten years ago I asked the following question in a column titled "It's Time To Part Company": "If one group of people prefers government control and management of people's lives and another prefers liberty and a desire to be left alone, should they be required to fight, antagonize one another, risk bloodshed and loss of life in order to impose their preferences or should they be able to peaceably part company and go their separate ways?" The problem that our nation faces is very much like a marriage where one partner has broken, and has no intention of keeping, the...
  • The Warmers Strike Back

    03/17/2010 4:28:40 AM PDT · by Kaslin · 28 replies · 620+ views ^ | March 17, 2010 | Walter E. Williams
    Stephen Dinan's Washington Times article "Climate Scientist to Fight Back at Skeptics," (March 5, 2010) tells of a forthcoming campaign that one global warmer said needs to be "an outlandishly aggressively partisan approach" to gut the credibility of skeptics. "Climate scientists at the National Academy of Sciences say they are tired of 'being treated like political pawns' and need to fight back…" Part of their strategy is to form a nonprofit organization and use donations to run newspaper ads to criticize critics. Stanford professor and environmentalist Paul Ehrlich, in one of the e-mails obtained by the Washington Times said, "Most...
  • Is Health Care a Right?

    03/12/2010 4:21:51 AM PST · by ICAB9USA · 52 replies · 1,163+ views ^ | 3/10/10 | Walter E. Williams
    Most politicians, and probably most Americans, see health care as a right. Thus, whether a person has the means to pay for medical services or not, he is nonetheless entitled to them. Let's ask ourselves a few questions about this vision. Say a person, let's call him Harry, suffers from diabetes and he has no means to pay a laboratory for blood work, a doctor for treatment and a pharmacy for medication. Does Harry have a right to XYZ lab's and Dr. Jones' services and a prescription from a pharmacist? And, if those services are not provided without charge, should...
  • Health Care A Right? More Like A Wish

    03/08/2010 5:24:33 PM PST · by Kaslin · 15 replies · 136+ views ^ | March 8, 2010 | WALTER WILLIAMS
    Most politicians, and probably most Americans, see health care as a right. Thus, whether a person has the means to pay for medical services or not, he is nonetheless entitled to them. Let's ask ourselves a few questions about this vision. Say a person, let's call him Harry, suffers from diabetes and he has no means to pay a laboratory for blood work, a doctor for treatment and a pharmacy for medication. Does Harry have a right to XYZ lab's and Dr. Jones' services and a prescription from a pharmacist? And, if those services are not provided without charge, should...
  • The Census and the Constitution

    02/17/2010 5:43:24 AM PST · by Kaslin · 8 replies · 757+ views ^ | February 17, 2010 | Walter E. Williams
    The Census Bureau estimates that the life cycle cost of the 2010 Census will be from $13.7 billion to $14.5 billion, making it the costliest census in the nation's history. Suppose you suggest to a congressman that given our budget crisis, we could save some money by dispensing with the 2010 census. I guarantee you that he'll say something along the lines that the Constitution mandates a decennial counting of the American people and he would be absolutely right. Article I, Section 2 of our constitution reads: "The actual Enumeration shall be made within three Years after the first Meeting...
  • We Need Diversity

    01/27/2010 9:40:04 AM PST · by Kaslin · 26 replies · 927+ views ^ | January 27, 2010 | Walter E. Williams
    It's not at all uncommon to watch a college basketball game and see that 90 to 100 percent of the players are black. According to the University of Central Florida's Institute for Diversity and Ethics in Sport report titled "The 2008 Racial and Gender Report Card," the percentage of black male basketball players in Division I was an all-time high at 60.4 percent. It was 45.9 percent in football and 6.0 percent in baseball. Diversity is worse in professional sports. In the National Basketball Association, almost 82 percent of the players are people of color, higher than last year's 80...
  • Walter Williams: Minimum wage hurts black youth

    12/16/2009 4:06:03 PM PST · by george76 · 9 replies · 602+ views
    Orange County Register ^ | December 16, 2009 | WALTER E. WILLIAMS
    the devastating effects of minimum wage laws ... Today's overall teenage (16-19) unemployment rate, at 25 percent, is the highest since World War II. Black teenage unemployment, at 50 percent, is also the highest since World War II. How do you think the Reverends Jackson and Sharpton would explain the unemployment difference between black and white teens? You can bet the rent money they would say: It's racial discrimination. Let's investigate. Was racial discrimination in 1948 greater or less than racial discrimination today? In 1948, the unemployment rate for white 16-17 year olds was 10.2 percent while that for blacks...
  • The Pretense of Knowledge

    12/02/2009 2:09:02 AM PST · by Kaslin · 3 replies · 401+ views ^ | December1, 2009 | Walter E.Williams
    The ultimate constraint that we all face is knowledge -- what we know and don't know. The knowledge problem is pervasive and by no means trivial as hinted at by just a few examples. You've purchased a house. Was it the best deal you could have gotten? Was there some other house you could have purchased that 10 years later would not have needed extensive repairs or was in a community with more likeable neighbors and a better environment for your children? What about the person you married? Was there another person who would have made for a more pleasing...
  • A Minority View: Voluntarism or Self-Interest?

    11/24/2009 4:17:58 AM PST · by Kaslin · 4 replies · 347+ views ^ | November 24, 2009 | Walter E. Williams
    How many things in our lives would we like to depend upon the generosity and selflessness of our fellow man, and do you think we would like the outcome? You say, "Williams, are you now putting down generosity and selflessness?" No, I'm not. Let me ask the question in a more direct way. Say you want a nice three-bedroom house. Which human motivation do you think would get you the house sooner: the generosity of builders or the builders' desire to earn some money? What about a nice car? Which motivation of auto companies and their workers do you trust...
  • Economic Myths and Irrelevancy

    11/04/2009 4:45:43 AM PST · by Kaslin · 16 replies · 549+ views ^ | November 4, 2009 | Walter E. Williams
    Steve H. Hanke is a Professor of Applied Economics at Johns Hopkins University in Baltimore and Senior Fellow at the Cato Institute in Washington, D.C., and writes frequently for Globe Asia and Forbes magazine. Professor Hanke starts off his "Hu versus Sarkozy" article (Globe Asia, November 2009) with a warning. There is no more reliable rule than the 95 percent rule: 95 percent of what you read about economics and finance is either wrong or irrelevant. The article contrasts the Chinese versus the French responses to the financial crisis but the major focus is on economic myths. Hanke says that...
  • Obama's Nobel Peace Prize

    10/28/2009 5:14:34 AM PDT · by Kaslin · 9 replies · 465+ views ^ | October 28, 2009 | Walter E. Williams
    According to Alfred Nobel's will, the Peace Prize should be awarded to the person who: "during the preceding year, shall have done … the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses." According to the Norwegian Nobel Committee, appointed by the Norwegian Parliament, 2009 saw a record 205 nominations who competed against President Barack Obama for this year's Nobel Laureate. We don't know the names of other nominees who were passed over because Nobel Foundation statutes do not permit information about nominations,...
  • American Idea

    10/21/2009 4:13:49 AM PDT · by Kaslin · 285+ views ^ | October 21, 2009 | Walther E. Williams
    Americans are harder workers, more philanthropic, individualistic, self-reliant, anti-government than people in most other countries. We’ve turned what was an 18th-century Third World nation into the freest and most prosperous nation in mankind’s entire history. Throughout our history, United States has been a magnet for immigrants around the world. What accounts for what some have called American exceptionalism? We Americans, as human beings, are no different from any other people, including Germans, Russians, Chinese, Africans and other people who have produced tyrannical regimes such as those of Hitler, Stalin, Mao and Idi Amin. As such we are just as capable...
  • How Toll Of 'Social Justice' Eludes Elites

    10/05/2009 6:01:45 PM PDT · by Kaslin · 13 replies · 679+ views
    IBD Editorials ^ | October 5, 2009 | WALTER E. WILLIAMS
    In recent praise of Cuba's health care system, Rep. Diane Watson, D-Calif., said: "You can think whatever you want to about Fidel Castro, but he was one of the brightest leaders I have ever met." W.E.B. DuBois, writing in the National Guardian (1953) said: "Joseph Stalin was a great man; few other men of the 20th century approach his stature. ... But also — and this was the highest proof of his greatness — he knew the common man, felt his problems, followed his fate." Walter Duranty called Stalin "the greatest living statesman .. . a quiet, unobtrusive man." George...
  • Understanding The Inflation In The Pipeline (by Walter E. Williams)

    09/09/2009 5:55:11 PM PDT · by Kaslin · 15 replies · 938+ views
    IBD Editorials ^ | September 9, 2009 | WALTER E. WILLIAMS
    With the massive increases in federal spending, inflation is one of the risks that await us. To protect us from the political demagoguery that will accompany that inflation, let's now decide what is and what is not inflation. One price or several prices rising is not inflation. Increases in money supply are what constitute inflation, and a general rise in prices is the symptom. As the late Nobel laureate professor Milton Friedman said, "Inflation is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in...
  • The Racism of Diversity

    07/22/2009 5:55:12 AM PDT · by Kaslin · 23 replies · 705+ views ^ | July 22, 2009 | Walter E. Williams
    The U.S. Naval Academy's PowerPoint display explains diversity by saying, "Diversity is all the different characteristics and attributes of individual sailors and civilians which enhance the mission readiness of the Navy," adding that: "Diversity is more than equal opportunity, race, gender or religion. Diversity is the understanding of how each of us brings different skills, talents and experiences to the fight -- and valuing those differences. Leveraging diversity creates an environment of excellence and continuous improvement to remove artificial achievement barriers and value the contribution of all participants." Admiral Gary Roughead, chief of Naval Operations, says that "diversity is the...
  • Why a Bill of Rights?

    07/01/2009 10:44:06 AM PDT · by Turret Gunner A20 · 48 replies · 1,089+ views ^ | July 1, 2009 | Walter E. Williams
    Why did the founders of our nation give us the Bill of Rights? The answer is easy. They knew Congress could not be trusted with our God-given rights. Think about it. Why in the world would they have written the First Amendment prohibiting Congress from enacting any law that abridges freedom of speech and the press? The answer is that in the absence of such a limitation Congress would abridge free speech and free press. That same distrust of Congress explains the other amendments found in our Bill of Rights protecting rights such as our rights to property, fair trial...
  • Tyranny Grows When Majority Rules The Law

    04/16/2009 5:52:07 AM PDT · by Kaslin · 25 replies · 730+ views
    IBD Editorials ^ | April 15, 2009 | Walter E. Willliams
    Democracy and majority rule give an aura of legitimacy to acts that would otherwise be deemed tyranny. Think about it. How many decisions in our day-to-day lives would we like to be made through majority rule or the democratic process? How about the decision whether you should watch a football game on television or "Law & Order"? What about whether you drive a Chevrolet or a Ford, or whether your Easter dinner is turkey or ham? Were such decisions made in the political arena, most of us would deem it tyranny. Why isn't it also tyranny for the democratic process...