Wintery Knight

…integrating Christian faith and knowledge in the public square

Walter Williams explains why capitalism is moral in 5 minutes

Who is Walter Williams?

Dr. Walter E. Williams holds a B.A. in economics from California State University, Los Angeles, and M.A. and Ph.D. degrees in economics from UCLA. He has served on the faculty of George Mason University in Fairfax, Virginia, as John M. Olin Distinguished Professor of Economics, since 1980.

Williams was born into an African-American family. His family during childhood consisted of himself, his mother, and his sister. His father played no role in raising either child. He grew up in Philadelphia. The family initially lived in West Philadelphia, moving to North Philadelphia and the Richard Allen housing projects when Williams was ten. In 1959 he was drafted into the military, and served as a Private in the United States Army. Following his military service, he re-entered college as a far more motivated student.

While at UCLA, Thomas Sowell arrived on campus in 1969 as a visiting professor. Though he never took a class from Dr. Sowell, the two met and began a friendship that has lasted to this day.

Watch this 5-minute video where he explains why capitalism is more moral than socialism:

And here’s another 5-minute video where he explains the profit motive:

Now let’s consider another economist, Thomas Sowell:

Thomas Sowell (born June 30, 1930) is an American economist, social theorist, political philosopher, and author. A National Humanities Medal winner, he advocates laissez-faire economics and writes from a conservative and libertarian perspective. He is currently the Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution, Stanford University. He is considered a leading representative of the Chicago school of economics.

Sowell was born in North Carolina, but grew up in Harlem, New York. He dropped out of high school, and served in the United States Marine Corps during the Korean War. He received a bachelor’s degree from Harvard University in 1958 and a master’s degree from Columbia University in 1959. In 1968, he earned his doctorate degree in Economics from the University of Chicago.

Sowell has served on the faculties of several universities, including Cornell University and University of California, Los Angeles, and worked for think tanks such as the Urban Institute. Since 1980 he has worked at the Hoover Institution. He is the author of more than 30 books.

Here is a 33-minute interview with Thomas Sowell on basic economics:

Lately, I have been thinking a lot about Christians who focus on only one issue during elections, typically abortion. I consider this to be a weak and short-sighted approach. Even if the main goal you desire is to stop the murder of unborn babies, you would do well to consider your opponent and use every tool available to defeat them in elections. Our opponent on the abortion issue is the Democrat voter. A Democrat is a person who is liberal on social policy – who supports abortion and gay marriage. If you want to defeat the Democrat candidate in an election, then you need to appeal to as many voters as possible on as many issues as possible – not just on social policy. You need to defeat Democrat fiscal policy with arguments and evidence. You need to defeat Democrat foreign policy with arguments and evidence. If you engage every target using every argument and every piece of evidence, you will get more success and win the battle for public opinion.

Let’s face it. We are not going to win elections if we turn only to people who call themselves Christians and try to get them to vote pro-life. There are not enough Christians – and not every person who calls himself a Christians is one. Focusing only on Christians is not going to get the pro-life majority we are looking for. It may be easier to avoid confronting people outside of our church, but it won’t work. A much better idea is to use every argument against every person – Christian or not. And to be able to address objections on every issue – not just one social issue. If the voters don’t care about one issue, then you can argue on another issue. You must be all things to all people so that you can win some by knowing what to say when they ask you for reasons and evidence. Now where have I heard that before?

Here is a full audio course on economics from famous Christian philosopher Ron Nash which I recommend to those who have not yet learned to integrate their Christian faith with economics. His two favorite economists are Walter Williams and Thomas Sowell – he says so in the lectures. In fact, he actually quotes a lot of Walter Williams material from his public lectures on economics, and Thomas Sowell material from his books on economics.

Note: for those who want MP3s of the Thomas Sowell lecture I posted above, here they are:

These are low-quality so they could be smaller for downloading.

Filed under: Videos, , , , , , , , , , , , , , , , , , , ,

Peter Robinson interviews Paul Ryan on fixing Washington

Here’s a 47-minute interview with the Republican candidate for Vice President.

Topics:

  • health care reform
  • patient-centered health care
  • patient choice
  • price and quality competition
  • reducing costs
  • empowering states
  • education reform
  • separate health care from the employer and attach it to the worker
  • the root cause of rising health costs
  • the moral hazard caused by government spending “makers vs. takers”
  • fixing dependency on the government by changing incentives
  • how Republicans can get votes from Democrats and Independents
  • how far is America from becoming Greece?
  • is the debt crisis avoidable?
  • the importance of the 2012 election
  • reforming Social Security

Best quote: “we need to kick this thing upstairs to the American people” (on letting the people decide instead of government).

H/T Rocking With Hawking.

Filed under: Videos, , , , , , , , , , , , ,

Let’s learn economics using videos from Thomas Sowell

ECM sent me these videos from the Uncommon Knowledge web site. Tom Sowell is the official economist of the Tea Party movement.

Part 1 of 5: (Housing Boom and Bust)

Part 2 of 5: (Quantitative Easing and Tax Cuts)

Part 3 of 5: (Health Care)

Part 4 of 5: (Trade, Trade Deficit, Protectionism, Tariffs)

Part 5 of 5: (The Federal Reserve, Bailouts, Keynes)

The fourth edition of his new book is out! Only $25 or less. (One of my readers bought it for me for Christmas, so please don’t buy me one!)

You can translate youtube videos into MP3 using the “vidtomp3″ web site. Or I could make them FOR YOU!

UPDATE: Within 5 minutes somebody asked me to make the MP3s for them. So here you go if you don’t like YouTube.

These are low-quality so they could be smaller.

UPDATE: Commenter Jim says:

Downloads of Sowell’s interview are also available in both audio MP3 and video M4V formats.

Filed under: Videos, , , , , , , , , , , , , , , , , , , , ,

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