Walter E Williams - Windfall Profits

[warpicachu]

Walter E Williams for president!

[lakeeriejew]

Williams is correct, mostly, but his examples are a bit shoddy.

What about the family in the North whose house burned down? Ho do they benefit from double the plywood price?

Their need as desperate as the hurricane victims.

[EGarrett01]

@lakeeriejew

"What about the family in the North whose house burned down?"

It's called insurance.

[flyoverjoe]

@lakeeriejew They benefit in exactly the same ways the hurricane victims do.

[xerakis]

indeed, the bullet will hit the bone, we will slaughter them with no mercy...it is going to get wet ..fuck the lousy un American socialists who seek to destroy the US Constitution.

[bjarnet3]

The last example is the best example ever...

[karas89]

Does anyone know from which year is this speech?

[XCritonX]

The Statists love windfall prices, as long as it is the government who is reaping the windfall.

[selfrealizedexile]

This is by far the best explanation of the price system I've seen. Milton Friedman's exposition on transmission of information is also great via the price system. But, I particularly like the way Williams explained how consumers of goods for less valued means economize so as to hasten the resource consumption of those who have a more valued need.

[bravo0105]

Dr. Walter E. Williams: turning back the frontiers of ignorance! Free market principals are as fundamental and irrefutable as the laws which govern mechanics. Politicians can't disregard gravity and escape harm, but they can fearlessly prey upon the ignorance of their constituents and run riot over economic principals all day long, and its all thanks to the mediocrity and indoctrination occurring in public schools! Abolish the public school system and move education into the private sector!

[hornedone72]

He makes too much common sense for this perverted era. God Bless Walter Williams.

[carcabe]

Truth and common sense.  So refreshing/

[whoo689]

I believe it was the CBO or GAO that investigated the windfall profits taxes begun in the Carter Administration that lasted throughout the 80s. They found that it didn't get them much revenues in the first place, and even when oil became more profitable, windfall taxes still didn't increase by much.

[TimeWarp66]

Go back to the old music, if you would : )

[PatriotsRepublic]

Liberals will look at this and see it as a horrid thing and vote to have the government just TAKE the goods and give them freely to those affected by disaster... this is why I hate Liberals and why Liberals will be first up against the wall when the revolution comes.

[Elasaltaculos]

While I don't look forward to a bloody revolution, I feel confident that those who love liberty will win. We have guns and we know how to shoot, lol.

I know what context you are using liberal in, but they are not liberals, let me assure you. A real liberal embraces liberty, these new "liberals" are statists who seek to silence those with differing opinions and seek the government to coerce others to comply with their agenda.

[ferrozm]

agreed.

lets not forget conservatives though they are statists too

[PatriotsRepublic]

There are two types of conservative... the progressive conservative (Statist) and the Liberal Conservative (Constitutionalist) which have had to take the name Libertarian. The modern day Republican party is around 20% of the people in the US, but is supported by nearly 60% when they espouse true conservative non-progressive values showing that true die hard conservatives are around 40% of the US population... they just don't call themselves Republicans.

[PatriotsRepublic]

Anyone who's read the history of politics in the US knows that the progressives became modern day Liberals. Of course the original meaning has been tainted, and they are by no means a Benjamin Franklin or Thomas Jefferson Liberal. Our biggest problem with both parties is they are largely made up of progressives wanting strict controls and laws. For the leftist Progressive, they desire to control thought (i.e. hate crimes), and conservative progressives to control behavior (i.e. sodomy laws).

[Elasaltaculos]

Well put, Patriot. I just think everyone who knows this needs to start using hte correct terminology so that these statists can't claim that they are pro-freedom.

Many "liberals" lay claim to classical liberalism, and we need to shut them down at the get go. Same with the neocons hijacking the conservative label.

[ambagoli21]

@Elasaltaculos my sentiments exactly...

[TreeSmoke1999]

@Elasaltaculos Perfectly put, also I would add neo-liberal and neo-con are the exact same thing lol

[Auggie56]

Another fine video. Thanks Liberty Penn.