Walter E Williams, a Fundamental Economist

By Grant Davies

A great friend of liberty passed away yesterday. 

I'm not much into naming people as heroes, but Dr. Walter Williams was a hero to me. I have read his books (all of them, I think) and still own quite a number of them to this day.

I was introduced to his work by an essay he wrote titled "The role of government in a free society." 

That essay resides in the guest bathroom of our home for the edification of any overnight guest we have while they are otherwise occupied in that room.

I was fortunate enough to attend the below presentation that Dr. Williams made (of that same title) in 1994 in Chicago. If you have never read the essay I'm referring to, or seen the video of it before, you would do well to watch it now.

This presentation, and others like it, were the inspiration for my evolution from a bloviating opinionator into a person who analyzes problems from a fundamental standpoint. I still may not get it right but it has worked out somewhat better for me than before.

Williams was a genius at making complex problems understandable even to people like me. He was known by many as "the peoples' economist." He wrote his last column just days ago.

He keeps things simple and fundamental. And no matter how complicated people try to make things, almost everything is simple and fundamental.

Some Honesty About Race in America

The following article was written by Dr. Walter E Williams, professor of Economics at George Mason University. In the past Dr. Williams' work has often been featured here.

Readers of this blog are used to plain talk about sensitive subject matter and I know of no one better at addressing things in that manner than Williams.

It's a good thing Dr. Williams is black or he would called a racist for addressing this subject in such a straightforward manner. I'm white, so I risk be called a racist for republishing his essay. Oh well.

Many thanks to Dr. Williams for the express written permission to republish his essay here.


Honest Examination of Race

Dr. Walter E Williams

One definition given for insanity is doing the same thing over and over again and expecting different results; it might also be a definition of stupidity. Let's look at some cities where large percentages of black Americans live under poor conditions.

Experiencing a violent crime rate of 2,137 per 100,000 of the population, Detroit is the nation's most dangerous city. Rounding out Forbes magazine's 2012 list of the 10 most dangerous cities are St Louis; Oakland, Calif.; Memphis, Tenn.; Birmingham, Ala.; Atlanta; Baltimore; Stockton, Calif.; Cleveland; and Buffalo, N.Y.

The most common characteristic of these predominantly black cities is that for decades, all of them have been run by Democratic and presumably liberal administrations. Some cities -- such as Detroit, Buffalo, Newark, N.J., and Philadelphia -- haven't elected a Republican mayor for more than a half-century. What's more is that in most of these cities, blacks have been mayors, chiefs of police, school superintendents and principals and have dominated city councils.

You might ask, "What's the point, Williams?" Let's be clear about it. I'm not stating that there's a causal relationship between crime, poverty and squalor on the one hand and, on the other, Democratic and black political control over a city. Nor am I saying that blacks ought to vote Republican.

What I am saying is that if one is strategizing on how to improve the lives of the poorest black people, he wants to leave off his to-do list election of Democrats and black politicians. Also to be left off the to-do list is a civil rights agenda. Racial discrimination has little to do with major problems confronting black people.

Today 72 percent of black babies are born out of wedlock. Being born and finding out that your mother is 17 years old, that your grandmother is 35 and that you don't know who or where your father is is not a good start on life. In fact, it's a near guarantee for school dropout, poverty and crime, but such a start in life has nothing to do with racial discrimination.

Law-abiding poor black people suffer the nation's highest rates of criminal victimization from assaults and homicide. More than 50 percent of homicide victims are black. Would anyone claim that this victimization is caused by racist groups preying on the black community? In addition to victimization, the level of lawlessness in many black communities has the full effect of a law banning economic growth. That's because the thugs are equal-opportunity thugs who will rip off a black-owned business just as they'd rip off a white-owned business.

Black education is a disaster, but who runs the violent, disruptive big-city schools, where education is all but impossible? For the most part, it's not white people. Go to a city such as Detroit and you'll find that blacks have been superintendents, principals and most of the teachers for years. Most black high-school students, in Detroit and other cities, can't read, write and compute as well as sixth-, seventh- and eighth-grade white students, but is it because of racism?

What the elite teach is not only futile but counterproductive. For example, speaking standard English in an English-speaking country is critical for self-improvement. But that's not the lesson from the nation's multiculturalists, who call for the celebration of native languages and dialects. Sloppy-minded academics and assorted hustlers have taught that poor English, gangsta rap, men wearing pigtails and thug behavior should not be criticized but become a part of the celebration of diversity.

Black people could benefit from an honest examination of the bill of goods they've been sold. Such an examination would not come from black politicians, civil rights leaders or the black and white liberal elite. Those people have benefited politically and financially from keeping black Americans in a constant state of grievance based on alleged racial discrimination.

The long-term solution for the problems that many black Americans face begins with an absolute rejection of the self-serving agenda of hustlers and poverty pimps.

The original of this essay can be found here. Dr. Williams website can be found here.

Amnesty For the Rest of Us

Dr. Walter E Williams

Proclamation of Amnesty and Pardon Granted to
              All Persons of European Descent

Whereas, Europeans kept my forebears in bondage some three centuries toiling without pay,

Whereas, Europeans ignored the human rights pledges of the Declaration of Independence and the United States Constitution,

Whereas, the Emancipation Proclamation, the Thirteenth and Fourteenth Amendments meant little more than empty words, 

Therefore, Americans of European ancestry are guilty of great crimes against my ancestors and their progeny.

But, in the recognition Europeans themselves have been victims of various and sundry human rights violations to wit: the Norman Conquest, the Irish Potato Famine, Decline of the Hapsburg Dynasty, Napoleonic and Czarist adventurism, and gratuitous insults and speculations about the intelligence of Europeans of Polish descent,

I, Walter E. Williams, do declare full and general amnesty and pardon to all persons of European ancestry, for both their own grievances, and those of their forebears, against my people.

Therefore, from this day forward Americans of European ancestry can stand straight and proud knowing they are without guilt and thus obliged not to act like damn fools in their relationships with Americans of African ancestry.

Walter E. Williams, 

 Gracious and Generous Grantor

Interestingly Cursed

It's almost May. Six months remain before the elections. Even though it's been said so often by so many groups that it's almost a cliche, these may be the most important elections in the span of our lives.

As a person who has been involved his entire adult life in trying to promote civil society via individual liberty and personal responsibility, this particular election holds the answer for me to the question of what the people of this country want for their way of life.

As Dr. Walter Williams asks the question: "What is the proper role of government in a free society?" The answer to that question, whether or not we want to be free to succeed or fail, or whether we want to be cared for by a group of people who run the government has finally come up for a vote.

It's that basic, folks. And if the majority of the people want to be free, they will defeat incumbents in large numbers. If the politics of personality and group against group warfare win out, the die will be cast in an ominous way, in my opinion.

Some pundits look for a huge repudiation of those currently in power. Such a person can be viewed in the video found below. It was brought to my attention by my good friend Joe (as astute an observer of events and trends as one will find anywhere) who was kind enough to bring it to my attention, and now yours. An accompanying article can be found here and is also worth your time.

As an old Chinese curse has it, "May you live in interesting times." I for one, along with Joe and a great many others, former Democrats and Republicans alike, certainly are cursed, because we are just as certainly interested in the decisions our fellow citizens will make.

Can Anything You Get For Free, be Worth Having?

Since nothing in our worldly existence is actually free, the question is moot.
Today, the common understanding of "free" is getting something someone else actually paid for.
The government constantly promises free things, and advertisers for companies are always offering free stuff. "Buy one, get one free" sales and free appetizers at restaurants are popular ways to rephrase the obvious truth, that the price is temporarily being lowered to stimulate demand.

But today, I'm here to offer you something for free. (actually a few things) And they certainly are worth having.  

If you have followed the essays on this blog or read the names of people I have linked to on the side bar, you know the name of Professor Walter E Williams. And if you have ever heard me, during discussions about government policy over Ben Franklin's favorite beverage, parrot his question: "What is the legitimate role of government in a free society?" you will recognize his trademark opening.

The answer will vary depending upon your particular philosophical leanings. A popular one in recent decades was summarized by former President George W Bush when, during a campaign speech in 2004, he uttered  "I think that's a proper role for the federal government, to help people". A statement, which in my view, sums up his misguided and sometimes preposterous presidency. The current President and most, if not all of those in my time on earth have been similarly incorrect or purposefully deceptive.
By contrast, the header of this blog-site reveals the thinking of Thomas Jefferson. It is elegant in its brevity and concise in its transmittal of  his message, which is why it remains my favorite quotation concerning governance and graces the top of this page.

A quaint old document, the contents of which have been largely forgotten (even as many pretend to venerate that declaration) has it this way:

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men"

The highlighting is mine of course, to make it read as a sentence. The attending words are more often quoted, and usually with good reason, but the object of the sentence has been been given short shrift, to our lasting detriment.

There still remain some of us silly old fools who took those words the way they were intended, that is to say, literally.

Now, back to my favorite economist. Walter Williams has a doctorate degree in economics and  teaches at George Mason University, but that isn't the only place he teaches. In an article adapted from a lecture he delivered in August for Hillsdale College (while aboard a cruise ship in the Mediterranean)  he taught the people in attendance, and now, through the beneficence of those who contribute to the publication of Imprimus, he will teach right here on this humble blog.

 He is also the author of many important books, a syndicated column and is a frequent speaker at gatherings of smart people and those who are attempting to become smart. Over the years, I have read most of his books and columns and have personally heard him speak on different occasions and the only thing I have to show for it thus far is that I am less ignorant. But I guess it's semi smart to trim back my ignorance whenever possible.

The reason I chose this particular article, Future Prospects for Economic Liberty, to feature on this page is that he seems to have rather concisely put together the most important points of dozens of those lectures and books and folded them into this one. If this is the only article of his you ever read, you will get the "Cliffs Notes" version of his work and save yourself a lot of time and money. Which is not something I recommend, but I don't think it would trouble him a whit to have someone "get it for free". After all, he has already been paid, but in my opinion, the most important thing to him is to educate the largest number of people about the blessings of freedom. It is his passion and his life's work.

And I'm delighted to introduce you to it, for free. I can also offer you a free subscription to Imprimus, a publication which has a circulation of 1,800,000 readers monthly. I am one of those readers, and through my association with Hillsdale and Dr. Williams I am authorized to..........Okay, I fibbed. You don't need me for that and I have no special relationship to either of them except my long time admiration for both and a few donations to the college.

Anyone can get it for free, and it proves that, sometimes many things worth having, are indeed, Free.

Now That I’m a Racist

After over four decades of experience in the financial markets, having a good understanding of profit motivation has made it fairly easy to ignore being called a racist by the usual race and poverty extortionists like Jesse Jackson and Al Sharpton. But now that the media and an ex-President have jumped into the dumpster with them and the third rate actress who was already in there for reasons of insanity, it may be time to close the lid and call Waste Management.

The good thing about this situation is that it gathers the tactics, the practitioners and the ideas they champion all in one place for easier disposal. The bad thing is, we never seem to be able to pile enough clay on top of them to keep them from crawling out of the landfill every so often when people forget how bad the stench actually is.

There is an old saying that “the first one to invoke Hitler’s name in any argument, automatically loses the debate”. I’ve never believed that to be true in all cases, but the idea that associating your opponent with a vile ideology can change the subject when losing an argument is certainly not new. Lawyers and spin meisters are well acquainted with the concept and employ it all the time. You’d think more people would catch on, but once you become addicted to hopiates, you can start hallucinating that people who disagree with your dreams aren’t merely stupid after all, they are actually evil racists as well.
And since those who rode Obama’s “return to Camelot” train in the greatest number were the youngest passengers and didn’t understand it was a disastrous return trip to a dangerous illusion, they don’t have the advantage of hindsight.

At least I’m in good company now that you can be put on the racist list without actually being white. As a kid, it was my understanding that only white people could be racists. Of course that wasn’t true, but the new racism definition includes anyone who disagrees with liberal dogma on “healthcare reform” and the “failure” of capitalism and freedom. Our recalcitrance stems from a racist hatred of President Obama according to Billy Carter’s slower brother.

To stand as a fellow racist with the likes of Thomas Sowell, Walter Williams, Ward Connerly and Larry Elder is an honor. Anyone who is familiar with these luminary Americans and still utters racial epithets about others doesn’t have a problem with political correctness, they have a problem with rational thought.

I’ve been fortunate enough to have been in the same room and actually spoken with three of them (I’m still waiting for the chance to shake hands with Dr. Sowell) but until this connection was established by our rabbit fearing ex-President, the personal association ended there. They have graced the page on this blog, not because they happen to be black, (and now are fellow racists) but because they share my love for freedom and happen to be smarter and better at communicating that virtue than I am.

A few years ago I had the privilege of a short chat with Larry Elder after hearing him speak at a dinner gathering. I asked him a question which had puzzled me since I became a “born again” freedom advocate many years ago. It seemed to me, I told him, that the most natural constituency for the ideas of liberty in this country ought to have been the people to whom it had been systematically denied. That is to ask, why aren’t black people as a group the most vocal proponents of freedom in our society? After all, some of the best spokesmen for liberty today, are immigrants from Eastern European countries and various other kleptocracies around the globe. Those who have been abused the most, often defend it the best. Witness Svetlana Kunin, etal.

Larry's answer then was as honest as he is, he didn’t know. And I still don’t know. So I guess it’s only logical that as individuals, the above named people are some of the best defenders we could hope for even if the group's political leanings still have me befuddled.

Now that we have a President of color for the first time, it should have been a slam dunk for freedom based solutions to our various problems. Instead, we elected a man who dines at the statism table and seeks to re-enslave people, this time without regard to skin color. I guess the idea is that, you don’t solve servitude as if it were a problem, but instead ensure that all people are equally enslaved in the name of fairness. The slave masters this time around will be big government czars instead of whip wielding cotton farmers.

It’s the same approach these folks have on poverty and the results will be the same. I’m afraid the people who will suffer most will be the people who support this replay of the horror story with the highest enthusiasm, that is to say, the younger people. That may seem like justice, but it’s like giving petty thieves life without parole. And in this case, the innocent will get the same sentence.

So, Jimmy Carter notwithstanding, the new “racists” mentioned above, the rude "shout out" specialists, and the sign carrying protestors at Washington marches of debatable size, are our best hope to avoid jumping into the historical dumpster with the USSR and all the other failed utopian nightmares that started out as the hopeful dreams of our fathers.