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The world this week lost a great defender of economic freedom with the passing of the great American economist Walter E. Williams. He was 84.
Williams’ legacy will be one of fighting for lasting liberty at every turn against those who would be dictators over their fellow man.
As an economics professor at George Mason University, Williams gave numerous speeches at The Heritage Foundation over the years, and he always had fascinating things to say. His mind was sharp and clear as he saw things for the way they are, putting him at odds with those seeking Big Government policies for shortsighted solutions.
There have been only a small number of economists in modern times who have challenged and overturned more wrongheaded economic thinking than Williams. //
In his December 2019 column “Why Capitalism Is Morally Superior to Other Systems,” Williams made a succinct case for free-market capitalism for young people by pointing out:
Free markets are morally superior to other economic systems … . In a word or so, our protest should not be against capitalism. People should protest crony capitalism, where people use the political arena to buy government favors.
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.