Walter Williams

Walter Williams (March 31, 1936 – December 1, 2020) was an American economist, commentator, academic, and columnist at Capitalism Magazine.

He was the John M. Olin Distinguished Professor of Economics at George Mason University, and a syndicated editorialist for Creator's Syndicate. He is author of Race and Economics: How Much Can Be Blamed on Discrimination?, and numerous other works.

Insulting Blacks

Insulting Blacks

What does it say about blacks who can be taken in by pandering, alarmist nonsense from both whites and blacks as a means to get their votes?

The Pope Sanctions the OECD Thugs

London’s Times Online recently reported that, according to Vatican sources, Pope Benedict XVI is working on his second encyclical, a doctrinal pronouncement that will condemn tax evasion as “socially unjust.” (See...

Silencing Dissent on Global Warming

Global warming has become a big-ticket item in the eyes of its supporters. At stake are research funds, jobs and the ability to control lives all over the globe. Most climatologists agree that over the last century, the Earth’s average temperature has risen...

Economic Thinking

Historical costs, sometimes called sunk costs, are irrelevant to decision-making because they are costs that have already been incurred. That’s something that’s not intuitively obvious, even for some trained economists. On a couple of occasions, I’ve...

Health Care: Government vs. Private

Sometimes the advocates of socialized medicine claim that health care is too important to be left to the market. That’s why some politicians are calling for us to adopt health care systems such as those in Canada, the United Kingdom and other European nations....

Economists on the Loose

On July 11, New York Times reporter Patricia Cohen wrote an article titled, “In Economics Departments, a Growing Will to Debate Fundamental Assumptions.” The article begins with, “For many economists, questioning free-market orthodoxy is akin to...

Illegal Immigration

Illegal Immigration

President Bush and his pro-amnesty allies both in and out of Congress suffered a devastating defeat at the hands of the American people. Like any other public controversy, there are vested interests served on both sides of the amnesty issue, but I’d like to...

Straight Thinking 101

Just about the most difficult lesson for first-year economics students, and sometimes graduate students, is that economic theory, and for that matter any scientific theory, is positive or non-normative. You might ask, “What’s this business about positive...

Do People Care?

Back in the late 1960s, during graduate study at UCLA, I had a casual conversation with Professor Armen Alchian, one of my tenacious mentors. Professor Alchian is among the top 20th-century contributors to economic knowledge. During our graduate student/faculty coffee...

The Law Versus Orders

Suppose a person is raped and we arrest the rapist. Should his status, whether he’s a senator, professor or an ordinary man, play a role in the adjudication of the crime and subsequent punishment? I’m betting that the average person would answer that the...

FDA: Friend or Foe?

The U.S. Food and Drug Administration (FDA) is charged with ensuring that only safe and effective drugs are marketed. Such a task is highly complex and fraught with difficulties. Consumers, the ostensible beneficiaries, should examine and question the incentive...

Creating Effective Incentives

What should our response be if terrorists set off a nuclear explosion, or some other weapon of mass destruction, in one of our cities? I put this question to Professor Victor Hanson, senior research fellow at Stanford University’s prestigious Hoover Institution,...

gun

Fighting Climate Change, Gun Control and Income Tax Laws

Last week, Japan pledged $100 million in grants to fight global climate change. The UN’s Intergovernmental Panel on Climate Change (IPCC) is the world’s major leader in the struggle against climate change. The World Conservation Union has recently...

The Temperamental Minimum Wage

The Temperamental Minimum Wage

The first fundamental law of demand postulates that the lower the price of something, the more will be demanded, and the higher the price, the less will be demanded. To my knowledge, there are no known exceptions to the law of demand. That was until last fall when 650...

The HMS Cornwall and The Rules of Engagement

The March 23 Iranian capture of 15 British Royal Navy sailors should raise a number of questions. The sailors were part of the crew of HMS Cornwall, a state-of-the-art frigate bristling with high-tech surveillance devices and advanced weaponry. The sailors, dispatched...

Murder at Virginia Polytechnic Institute

The 32 murders at Virginia Polytechnic Institute (VPI) shocked the nation, but what are some of the steps that can be taken to reduce the probability that such a massacre will happen again? A large portion of the blame can be laid at the feet of the VPI administration...

Exploiting Ignorance

So many Americans graduate high school and college having learned what to think as opposed to acquiring the tools of critical, independent thinking. Likewise, they have learned little about our nation’s history. As such, they fall prey to the rhetoric of...

Phony Science and Public Policy

The public has become increasingly aware that the science behind manmade global warming is a fraud. But maybe Americans like bogus science in pursuit of certain public policy objectives. Let’s look at it. Many Americans find tobacco smoke to be a nuisance. Some...

The Shame of Higher Education

Many of our nation’s colleges and universities have become cesspools of indoctrination, intolerance, academic dishonesty and the new racism. In a March 1991 speech, Yale President Benno Schmidt warned, “The most serious problems of freedom of expression in...

Global Warming Heresy

Most climatologists agree that the earth’s temperature has increased about a degree over the last century. The debate is how much of it is due to mankind’s activity. Britain’s Channel 4 television has just produced “The Great Global Warming...

Regrets for Slavery

Both chambers of the Commonwealth of Virginia’s General Assembly passed a resolution saying government-sanctioned slavery “ranks as the most horrendous of all depredations of human rights and violations of our founding ideals in our nation’s history;...

Democracy or Liberty

Does democracy really deserve the praise it receives? According to Webster’s Dictionary, democracy is defined as “government by the people; especially: rule of the majority.” What’s so great about majority rule? Let’s look at majority...

Nonsense Ideas About Economics

There are some ideas and feelings that sound plausible but given just a wee bit of thought can be shown to border on lunacy. Let’s examine a few. Some U.S. companies have been accused of exploiting Third World workers with poor working conditions and low wages....

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