Ministers Louis Farrakhan, Jesse Jackson, Al Sharpton, Washington, D.C.'s Mayor Anthony Williams and others recently met to discuss plans to celebrate the 10th anniversary of the October 1995 Million Man March. Whilst reading about the plans, I thought of an excellent...
Walter Williams
Only in America
Let's talk about the rich -- those people who, according to former Congressman Richard Gephardt, are "winners in life's lottery." Or the people whom director Michael Moore preaches, in his book "Dude, Where's my Country?" got rich off the backs of the poor. Farrah...
The Productive vs. The Unproductive
"The Greatest Century That Ever Was: 25 Miraculous Trends of the Past 100 Years" is the appropriate title of a 1999 article authored by Stephen Moore and the late Julian L. Simon and published by the Washington-based Cato Institute. Let's highlight some of the...
Stupid Airport Security 3
Several airport security screeners have sent me polite letters criticizing some of my comments in my last two columns, prompting this question to you: In managing our personal security, should we guard against possible or probable threats? Consider the measures and...
Stupid Airport Security 2
Hundreds of readers responded to last week's column about airport security. These were letters from Americans who fit no terrorist profile -- airline pilots, mothers traveling with children, disabled people, elderly and other law-abiding Americans -- and yet were...
Stupid Airport Security
For most of my professional life, I've traveled frequently -- sometimes boarding a commercial flight two, three or four times a month for lucrative speaking engagements. Over the past three years, the frequency has fallen to an average of once or twice a year. The...
The Law or “Good Ideas”?
Here's my question to you: Should we be governed by good ideas? You say, "Williams, what do you mean?" Here's an example: I regularly bike for fun, cardiovascular fitness and, hopefully, for a longer, healthier life. In my opinion, that's a good idea. That being the...
Minimum Wage, Maximum Folly
Senators Edward Kennedy, D-Mass., and Rick Santorum, R-Pa., both introduced proposals to increase the minimum wage from its current $5.15 an hour. Sen. Kennedy's proposal would have raised the minimum wage to $7.25 in three steps over 26 months, while Sen. Santorum's...
Anti-Intellectualism at Harvard
Dr. Larry Summers, Harvard's president, remains under siege for remarks (www.president.harvard.edu/speeches/2005/nber.html) made in his Jan. 14 address to the National Bureau of Economic Research (NBER). Dr. Summers suggested that there might be three major reasons...
More Social Security Deceit
A fortnight ago, I explained some of the congressional deceit that has become part and parcel of Social Security. One was the 1936 promise of maximum wages subject to Social Security tax of three percent -- $3,000 -- which, controlling for inflation, comes to roughly...
Are CEOs Overpaid?
In the wake of the Enron and WorldCom corporate scandals, the purveyors of envy have found another opportunity to preach about what they consider the evils of high CEO salaries, retirements and bonuses. After all, according to them, evil must be afoot when a corporate...
Social Security Deceit
President Bush's call to allow Americans to take a portion of the money they pay as Social Security taxes to set up private retirement accounts has to be a good idea. Why? The more of what a person earns that's in his pocket and under his control, the better off he...
Do Corporations Have Social Responsibility?
On Jan. 20, 2005, J.P. Morgan Chase announced that it had completed research to determine whether it had any links to slavery. Its website (www2.bankone.com/presents/home/) announced: "Today, we are reporting that this research found that between 1831 and 1865 two of...
Not Yours To Give
Charity to man's fellow man is praiseworthy, and Americans are the most generous people on Earth. According to a quote by American philanthropist Daniel Rose in "An Exceptional Nation," an article in Philanthropy magazine (November/December 2004), "American private...
Anti-Intellectualism Among the Academic Elite
Dr. Lawrence Summers, president of Harvard University, has been excoriated for suggesting that innate differences between men and women might be one of the reasons fewer women succeed in the higher reaches of science and math. Adding insult to injury, he also...
Should We “Save Jobs”?
Now that the elections are over, there's little political gain for demagoguery about jobs, but let's prepare ourselves for the next time. Losing a job means a financial crunch and readjustment regardless of the source of job loss. If it's not from an economic...
Weaker Than We Think
"On Sept. 11, one in 3,000 New Yorkers perished, but in the same year, over one in 1,000 urbanites were murdered in three major cities in the Western Hemisphere alone," according to Russell Seitz in his article "Weaker Than We Think" in The American Conservative (Dec....
Economics for the Citizen (Part 10)
A discussion of a few popular sentiments that have high emotional worth but make little economic sense.
Economics for the Citizen (Part 9)
What’s called the market is simply a collection of millions upon millions of independent decision makers not only in America but around the world.
Economics for the Citizen (Part 8)
Economic theory is broadly applicable. However, a society’s property-rights structure influences how the theory will manifest itself.
Economics for the Citizen (Part 7)
The fact that sellers charge people different prices for what often appear to be similar products is related to a concept known as elasticity of demand,
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