PREMIUM FEATURE
Advanced Search Filters
Filter search results by source, date, and more with our premium search tools.
Capitalism, or what some call free markets, is relatively new in human history. Prior to capitalism, the way individuals amassed great wealth was by … - Walter E. Williams
" "Capitalism, or what some call free markets, is relatively new in human history. Prior to capitalism, the way individuals amassed great wealth was by looting, plundering and enslaving their fellow man. With the rise of capitalism, it became possible to amass great wealth by serving and pleasing your fellow man. Capitalists seek to discover what people want and produce and market it as efficiently as possible as a means to profit. A historical example of this process would be John D. Rockefeller, whose successful marketing drove kerosene prices down from 58 cents a gallon in 1865 to 7 cents in 1900. Henry Ford became rich by producing cars for the common man. Both Ford's and Rockefeller's personal benefits pale in comparison to the benefits received by the common man who had cheaper kerosene and cheaper and more convenient transportation. There are literally thousands of examples of how mankind's life has been made better by those in the pursuit of profits. Here's my question to you: Are the people who, by their actions, created unprecedented convenience, longer life expectancy and a more pleasant life for the ordinary person — and became wealthy in the process — deserving of all the scorn and ridicule heaped upon them by intellectuals and political hustlers today?
English
Collect this quote
About Walter E. Williams
Walter Edward Williams (born 31 March 1936 - December 2, 2020) is an 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 known for his classical liberal and libertarian conservative views. His writings frequently appear on Townhall.com, WND, and Jewish World Review.
Also Known As
Alternative Names:
Walter Williams
•
Walter Edward Williams
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by Walter E. Williams
Say that you hire me to mow your lawn and afterwards you pay me $30. What I have earned might be thought of as certificates of performance, i.e. proof that I served you. With these certificates of performance in hand, I visit my grocer and demand 3 pounds of steak and a six-pack of beer that my fellow man produced. In effect, the grocer asks, "Williams, you're demanding that your fellow man, as ranchers and brewers, serve you; what did you do in turn to serve your fellow man?" I say, "I mowed my fellow man’s lawn." The grocer says, "Prove it!" That's when I hand over my certificates of performance -- the $30.
Paul Laurence Dunbar High School was established in 1870 in Washington, D.C., as the nation's first black public high school. From 1870 to 1955, most of its graduates went off to college, earning degrees from Harvard, Princeton, Williams, Wesleyan and others. As early as 1899, Dunbar students scored higher on citywide tests than students at any of the district's [three] white [high] schools. Its attendance and tardiness records were generally better than those of white schools. During this era of high achievement, there was no school violence. It wasn't racially integrated. It didn't have a big budget. It didn't even have a lunchroom or all those other things that today's education establishment says are necessary for black academic excellence.
Unlimited Quote Collections
Organize your favorite quotes without limits. Create themed collections for every occasion with Premium.
What human motivation is responsible for getting the most wonderful things done? I would say greed. When I use the term greed, I do not mean cheating, stealing, fraud and other acts of dishonesty, I mean people seeking to get the most for themselves. One might be tempted to use “enlightened self interest” but I like greed better. Unfortunately, many people are naive enough to believe that it is compassion, concern, and "feeling another's pain" that's the superior human motivation. As such we fall easy prey to charlatans, quacks and hustlers.
Loading...