"Since it's not considered polite, and surely not politically-correct to come out and actually say that greed gets wonderful things done, let me go through a few of the millions of examples of the benefits of people trying to get more for themselves. There's probably widespread agreement that it's a wonderful thing that most of us own cars. Is there anyone who believes that the reason we have cars is because Detroit assembly line workers care about us? It's also wonderful that Texas cattle ranchers make the sacrifices of time and effort caring for steer so that New Yorkers can have beef on their supermarket shelves. It is also wonderful that Idaho potato growers arise early to do back-breaking work in the hot sun to ensure that New Yorkers also have potatoes on their supermarket shelves. Again, is there anyone who believes that ranchers and potato growers, who make these sacrifices, do so because they care about New Yorkers? They might hate New Yorkers. New Yorkers have beef and potatoes because Texas cattle ranchers and Idaho potato growers care about themselves and they want more for themselves. How much steak and potatoes would New Yorkers have if it all depended on human love and kindness? I would feel sorry for New Yorkers. Thinking this way bothers some people because they are more concerned with the motives behind a set of actions rather than the results. This is what Adam Smith, the father of economics, meant in The Wealth of Nations when he said, "It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interests.""
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Journalists from the United StatesColumnists from the United StatesPeople from PhiladelphiaAfrican AmericansEconomists from the United States
Original Language: English
Available Languages (1)
Sources
Imported from EN Wikiquote
https://en.wikiquote.org/wiki/Walter_E._Williams
Revision History
No revisions have been submitted for this quote.
Categories
Walter E. Williams
37 quotes on TrueQuotesView all quotes by Walter E. Williams →
Related Quotes
"If FDA officials err on the side of under-caution in approving an unsafe drug, they are attacked by the media and pat…"
"In 302, the Roman emperor Diocletian commanded "there should be cheapness," declaring, "Unprincipled greed appears wh…"
"I personally believe that economics is fun and valuable. People who say they found it a nightmare in college just did…"
"Three-fifths to two-thirds of the federal budget consists of taking property from one American and giving it to anoth…"
"We're all grossly ignorant about most things that we use and encounter in our daily lives, but each of us is knowledg…"
"At the beginning of each semester, I tell students that my economic theory course will deal with positive, non-normat…"
""You can never be too safe." Yes, you can. How many of us bother to inspect the hydraulic brake lines in our cars bef…"
"There are several methods of conflict resolution. First, there's the market mechanism -- let the highest bidder be th…"
"there's the claim that this or that price is unreasonable. I used to have conversations about this claim with Mrs. Wi…"
"There is no moral argument that justifies using the coercive powers of government to force one person to bear the exp…"