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The idea that even the brightest person or group of bright people, much less the U.S. Congress, can wisely manage an economy has to be the height of arrogance and conceit.

Walter E. Williams

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Walter E. Williams
Age: 84 †
Born: 1936
Born: March 31
Died: 2020
Died: December 1
Columnist
Economist
Journalist
Radio Personality
University Teacher
Philadelphia
Pennsylvania
Walter Williams
Walter Edward Williams
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Arrogance
Idea
Height
Persons
Bright
Ideas
Manage
Person
Congress
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People
Economy
Conceit

More quotes by Walter E. Williams

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In general, presidents and congressmen have very limited power to do good for the economy and awesome power to do bad. The best good thing that politicians can do for the economy is to stop doing bad. In part, this can be achieved through reducing taxes and economic regulation, and staying out of our lives.
Walter E. Williams
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Preaching doom and gloom has been beneficial to the political class. They use it to gain more power and control.
Walter E. Williams
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Many of the wonderful achievements of the 20th century were the result of the pursuit of profits. Unfortunately, demagoguery has led to profits becoming a dirty word. Nonprofit is seen as more righteous, particularly when people pompously stand before us and declare, 'We're a nonprofit organization.'
Walter E. Williams
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Reduced employment opportunities is one effect of minimum wage legislation. The minimum wage law has imposed incalculable harm on the disadvantaged members of our society. The only moral thing to do is to repeal it.
Walter E. Williams
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I have nothing against rich people. In fact, I've been struggling most of my life to join them.
Walter E. Williams
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Maybe I'm overly pessimistic, but most of Africa is a continent without much hope for its people... What [Africa] needs, the West cannot give. ...what Africans need is personal liberty...[and] guarantees of private property rights and rule of law.
Walter E. Williams
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The Founders knew that a democracy would lead to some kind of tyranny. The term democracy appears in none of our Founding documents. Their vision for us was a Republic and limited government.
Walter E. Williams
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You can bet the rent money that whatever politicians do will end up harming consumers. ... Economic ignorance is to politicians what idle hands are to the devil. Both provide the workshop for the creation of evil.
Walter E. Williams
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The prospects are dim for a society that makes mascots out of the unproductive and condemns the productive.
Walter E. Williams
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Legality alone is no guide for a moral people. There are many things in this world that have been, or are, legal but clearly immoral. Slavery was legal. Did that make it moral? South Africa’s apartheid, Nazi persecution of Jews, and Stalinist and Maoist purges were all legal, but did that make them moral?
Walter E. Williams
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Whether we want to own up to it or not, the welfare state has done what Jim Crow, gross discrimination and poverty could not have done. It has contributed to the breakdown of the black family structure and has helped establish a set of values alien to traditional values of high moral standards, hard work and achievement.
Walter E. Williams
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Communism and socialism is [sic] seductive. It promises us that people will contribute according to ability and receive according to needs. Everybody is equal. Everybody has a right to decent housing, decent food and affordable medical care. History should have taught us that when we hear people talk this stuff - watch out!
Walter E. Williams
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Most of what Congress does fits the description of forcing one American to serve the purposes of another American. That description differs only in degree, but not in kind, from slavery.
Walter E. Williams
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Increases in money supply are what constitute inflation, and a general rise in prices is the symptom.
Walter E. Williams
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Tariff policy beneficiaries are always visible, but its victims are mostly invisible. Politicians love this. The reason is simple: The beneficiaries know for whom to cast their ballots, and the victims don't know whom to blame for their calamity.
Walter E. Williams
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Profit is vital to human well-being. Profit is the payment to entrepreneurs just as wages are payments to labor, interest to capital and rent to land. In order to earn profits in free markets, entrepreneurs must identify and satisfy human wants and do so in a way that economizes on society's scarce resources.
Walter E. Williams
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Students who are alien and hostile to the education process ought to be removed. You say, What will we do with them? I say that's a secondary issue. The first priority is to stop thugs from making education impossible for everyone else.
Walter E. Williams
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More important than anything else is for Americans to wise up to class warfare demagoguery and reject the politics of envy.
Walter E. Williams
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In keeping Americans ill-educated, ill-informed and constitutionally ignorant, the education establishment has been the politician's major and most faithful partner. It is in this sense that American education can be deemed a success.
Walter E. Williams
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An increasing amount of climate research suggests a possibility of global cooling.
Walter E. Williams