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. WilliamsExperts and the educated elite have replaced what worked with what sounded good. Society was far more civilized before they took over our schools, prisons, welfare programs, police departments and courts. It's high time we ran these people out of our lives and went back to common sense.
Walter E. WilliamsPowerful government tends to draw into it people with bloated egos, people who think they know more than everyone else and have little hesitance in coercing their fellow man. Or as Nobel Laureate Friedrich Hayek said, "in government, the scum rises to the top".
Walter E. WilliamsTyrants always condemn and seek to replace the market process with government coercion because tyrants do not trust that people behaving voluntarily will do what the tyrants think they should do.
Walter E. WilliamsDemocracy gives the aura of legitimacy to acts that would otherwise be considered tyranny.
Walter E. Williams