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" "There is no moral argument that justifies using the coercive powers of government to force one person to bear the expense of taking care of another. If that person is too resolute in his refusal to do so, what is the case for imposing fines, imprisonment or death? You say, "Death! Aren't you exaggerating, Williams?" Say he tells the agents of Congress that he'll pay his share of the constitutionally mandated functions of government but refuse to pay the health costs of a sick obese person or a cyclist who becomes a vegetable, what do you think the likely course of events will be? First, he'd be threatened with fines, imprisonment or property confiscation. Refusal to give in to these government sanctions would ultimately lead to his being shot by the agents of Congress.
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.
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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.
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?
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"It's wrong to profit from the misfortune of others." I ask my students whether they'd support a law against doing so. But I caution them with some examples. An orthopedist profits from your misfortune of having broken your leg skiing. When there's news of a pending ice storm, I doubt whether it saddens the hearts of those in the collision repair business. I also tell my students that I profit from their misfortune — their ignorance of economic theory.