Say that Congress legislates gasoline price controls that sets a maximum price of $1 a gallon. As sure as night follows day, there'd be long lines and gasoline shortages, just as there were in the 1970s. For the average consumer, a $1.60 a gallon selling price and no waiting lines is a darn sight cheaper than a controlled $1 a gallon price plus searching for a gasoline station that has gas and then waiting in line. If your average purchase is 10 gallons, and if an hour or so of your time is worth more that $6, the $1.60 a gallon free market price is cheaper.
Walter E. WilliamsDemocracy and liberty are not the same. Democracy is little more than mob rule, while liberty refers to the sovereignty of the individual.
Walter E. WilliamsAs American education and intelligence becomes replaced by feelings and emotion, not seeing the forest for the trees has become a major problem.
Walter E. WilliamsEconomic planning is nothing more than the forcible superseding of other people's plans by the powerful elite backed up by the brute force of government.
Walter E. WilliamsLiberals believe government should take people's earnings to give to poor people. Conservatives disagree. They think government should confiscate people's earnings and give them to farmers and insolvent banks. The compelling issue to both conservatives and liberals is not whether it is legitimate for government to confiscate one's property to give to another, the debate is over the disposition of the pillage.
Walter E. WilliamsDespite the miracles of capitalism, it doesn't do well in popularity polls. One of the reasons is that capitalism is always evaluated against the non-existent, non-realizable utopias of socialism or communism. Any earthly system, when compared to a Utopia, will pale in comparison. But for the ordinary person, capitalism, with all of its warts, is superior to any system yet devised to deal with our everyday needs and desires.
Walter E. Williams