Walter Williams, RIP

One of America’s leading public intellectuals, Walter Williams, has passed away. In 2014, I shared a teaser for Suffer No Fools, a video biography of his life. To commemorate the life of this great man, here’s the full video. I first got to know Walter when I was a Ph.D. student at George Mason University […]

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In the Debate over Capitalism and Morality, the Score Is: Walter Williams 1 – Pope Francis 0

The biggest mistake of well-meaning leftists is that they place too much value on good intentions and don’t seem to care nearly as much about good results. Pope Francis is an example of this unfortunate tendency. His concern for the poor presumably is genuine, but he puts ideology above evidence when he argues against capitalism […]

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The Rahn Curve, the Laffer Curve, and Walter Williams

What’s the relationship between the Rahn Curve and the Laffer Curve? For the uninitiated, the Rahn Curve is the common-sense notion that some government is helpful for prosperous markets but too much government is harmful to economic performance. Even libertarians, for instance, will acknowledge that spending on core “public goods” such as police protection and […]

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Amusing California Satire by Walter Williams, but What if Gov. Brown Takes It Seriously?

I periodically mock the crazy statists of California. The state is almost surely doomed to suffer a Greek-style fiscal chaos. The only unknown is whether Illinois will beat the Golden State into default. The politicians in Sacramento impose very high taxes to fund a bloated bureaucracy that oversees a bunch of politically correct nonsense. But […]

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Walter Williams on the Moral Difference Between Markets and Statism

Since starting this blog, I’ve cited several columns by Walter Williams (see here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, and here), in large part because he’s so good at explaining economic concepts, but also because he’s very effective when demonstrating how big government undermines both freedom and […]

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Walter Williams vs. Barack Obama on Class Warfare

It isn’t fair to compare and contrast the views of a distinguished economist with the envious ramblings of a career politician/community activist. But it’s also not right for the government to use coercion to impose bad policy, so I don’t feel guilty about sharing this excerpt from a recent Walter Williams column. President Barack Obama, […]

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Walter Williams, Freedom Fighter

I’ve been fortunate to know Walter Williams ever since I began my Ph.D. studies at George Mason University in the mid-1980s. He is a very good economist, but his real value is as a public intellectual. He also has a remarkable personal story, which he tells in his new autobiography, Up from the Projects. I’ve […]

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The Extraordinary Life and Insight of Walter Williams

I don’t think I’ve ever promoted a book since starting this blog, but the new autobiography from Walter Williams is too good not to recommend. But don’t believe me. Walter was just interviewed by the Wall Street Journal, and you can get a flavor for his blunt style and crisp analysis. Speaking for myself, I’m […]

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Walter Williams Is Skeptical about the House GOP Pledge to Obey the Constitution

Walter Williams has a column about the House GOP’s commitment to make sure legislation is consistent with the Constitution. As with most things he writes, it is very much worth reading. Walter starts by explaining what Boehner and the rest of the Republicans have promised to do. He then points out that – if they’re […]

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A Basic – but Critical – Economics Lesson from Walter Williams

Just because something is free, that doesn’t mean there is no cost. This is the core message of Walter Williams’ column, which uses the example of “employer-paid” Social Security taxes to explain how politicians specialize in giving us very expensive things for “free.”  Scarcity means there’s no free lunch. Having more of one thing requires […]

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Walter Williams Discusses Racial and Sexual Profiling

With his usual bluntness, Professor Walter Williams of George Mason University explains why profiling is not always a sign of racism or sexism. And it certainly doesn’t necessarily indicate animus. His column explains that rational profiling can lead to injustice for law-abiding young black men, but he hits the nail on the head by stating […]

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Walter Williams and America’s Founding

I’ve only excerpted three paragraphs, but you should read his entire column. It is very tragic that the vision of liberty put forth by the Founders has been so undermined by modern politicians who swear an oath to the Constitution without having any idea what the document actually says. In 1794, when Congress appropriated $15,000 […]

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Walter Williams on Immigration

I have mixed feelings about the right response to illegal immigration. I don´t favor amnesty because of my respect for the rule of law and because it would encourage more illegal immigration. On the other hand, I certainly do not want law enforcement resources diverted to hassling people who are in America solely in search […]

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Walter Williams: Is Secession the Answer?

Because the looters and moochers in Washington have made a mockery of the Constitution, Professor Williams wonders whether the only solution is for advocates of limited government to split off and create an America based on traditional principles of self reliance and individual freedom: I believe we are nearing a point where there are enough […]

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Walter Williams Decimates Obamacare

Walter Williams correctly summarizes what it means to make healthcare a “right.” And he also dusts off that quaint document, long forgotten in Washington, called the U.S. Constitution.

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Timeless Wisdom from Walter Williams

Back in the 1980s, the irreplaceable Walter Williams produced a documentary based on one of his more controversial books, The State Against Blacks. Someone has done a great service and posted the documentary on Youtube.com. Everything Walter said back then is true today – and just as applicable. The only discordant note is that when […]

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In One Image, Everything You Need to Know about the Washington-Created Welfare State (Part II)

As part of my everything-you-need-to-know series, I shared an incomprehensible flowchart showing the ridiculous maze of federal welfare programs back in 2015. Today, let’s look at another visual that captures what’s wrong with the Washington welfare state. As you can see, taxpayers are footing the bill for a system that spends more than twice what […]

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The Right and Wrong Way to Reduce Poverty, Part II

In Part I of this series, I explained that the War on Poverty, launched by Lyndon Johnson and expanded by other profligate presidents, has been bad news for both taxpayers and poor people. More specifically, I shared some academic research showing how it led to a big increase in dependency on government. Let’s expand on […]

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An Independence Day Lesson from Grover Cleveland

Calvin Coolidge probably deserves a prize for the best July 4th speech. But another president also deserves some Independence Day recognition. I’ve previously written about Grover Cleveland’s sound thinking about fiscal issues. Remarkably, his frugality even extended to opposing the use of taxpayer money to celebrate the Declaration of Independence. In a column for the […]

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Is the Economy a Fixed Pie or Growing Pie?

A few days ago, I shared a clip about capitalism and big business from a recent speech in Poland. Here’s something else I said, in this case about whether free markets can produce more prosperity for everyone. The answer, of course, is that capitalist societies have produced mass prosperity. Yes, some people have become astoundingly […]

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The Higher Education Racket, Part II

In Part I of this series, I shared a very amusing video from Bill Maher about how colleges and universities have become “luxury day-care centers.” I then added some of my analysis to show that government subsidies – such as student loans – were the underlying problem. Simply stated, colleges and universities increased tuition and […]

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How Should the Constitution Be Changed?

John Stossel has added to his collection of great videos. His latest releases asks whether the Constitution should be amended. If you watch carefully, you’ll see that I made an appearance toward the end. My clip lasts only about five seconds, but I used that short segment to say that the main goal should be […]

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California Humor

I write frequently about economic policy in California, mostly to note that bad policy by politicians is offsetting the state’s natural advantages such as climate, natural resources, and topography. The net result is a slow-motion economic suicide, as measured by a gradual loss in competitiveness and unfavorable migration patterns. Today, we’re going to make similar […]

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The Case for Capitalism, Part VI

I have shared five videos (Part I, Part II, Part III, Part IV, and Part V) that make the case for capitalism. Here’s a sixth example. The video notes that poverty was the natural condition for humanity (notwithstanding the economic illiteracy of Congresswoman Pressley). But then, starting a couple of hundred years ago, capitalism gained […]

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Americans Are Getting Richer, but the Relevant Question is “How Quickly?”

Our friends on the left believe (or at least claim to believe) that the United States is an unfair nation because the rich get richer and the poor get poorer. More specifically, they assert that the economy is a fixed pie and that when people like Bill Gates and Jeff Bezos become rich, then there […]

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Is the United States Defined by 1619 or 1776?

Since this is America’s Independence Day, I’m going to continue my tradition (see 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, and 2020) of authoring a July 4-themed column. What will make this year special, though, is that we’re going to tackle the heavy topic of whether the United States lives up to […]

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Defending Capitalism, Part II

Last week, I shared Part I of my discussion with John Stossel about “capitalism myths.” Here’s Part II. In the first video, we discussed three myths about free enterprise. Myth #1 – Capitalists get rich by ‘taking’ money from others. Myth #2 – The rich getting richer, and the poor getting poorer. Myth #3 – […]

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Everything You Need to Know about Bad Government in California

California is a fascinating state for people who follow public policy. It has some immense advantages, such as climate, coastline, and natural resources. But it also has high taxes, absurd regulations, a bloated bureaucracy, and a costly welfare state. The net result of all these factors is mixed. There are some sectors that are still […]

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Immigration, Part I: The Fantasy Solution of Foreign Aid

Illegal immigration is again becoming a big issue, which always leaves me with mixed feelings. I think it’s great that the United States is a beacon of hope and opportunity for people around the world. I think it’s great when immigrants add more dynamism and entrepreneurship to our economy. I think it’s not-so-great that we […]

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Blame Washington for the Great Depression

There are several false narratives about economic history, involving topics ranging from the recent financial crisis to 19th-century sweatshops. But probably the biggest falsehood, as explained in this video by Prof. Lee Ohanian, is the notion that big government saved us from the Great Depression. The only shortcoming of Ohanian’s video is that he’s analyzing […]

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