Sunday, December 22, 2024 Text is available under the CC BY-SA 3.0 licence.

Walter E. Williams

« All quotes from this author
 

The essence of exchange is the transfer of title. Here's the essence of what happens when I buy a gallon of milk from my grocer. I tell him that I hold title to these three dollars and he holds title to the gallon of milk. Then, I offer: If you transfer your title to that gallon of milk, I will transfer title to these three dollars.Whenever there's voluntary exchange, the only clear conclusion that a third party can make is that both parties, in their opinion, perceived themselves as better off as a result of the exchange; otherwise, they wouldn't have exchanged. I was free to keep my three dollars, and the grocer was free to keep his milk. If you think it's obvious that both parties benefit from voluntary exchange, then how come we hear pronouncements about worker exploitation? Say you offer me a wage of $2 an hour. I'm free to either accept or reject your offer. So what can be concluded if I'm seen working for you at $2 an hour? One clear conclusion is that I must have seen myself as being better off taking your offer than my next best alternative. All other alternatives were less valuable, or else why would I have accepted the $2 offer? How appropriate is it to say that you're exploiting me when you've given me my best offer? Rather than using the term exploitation, you might say you wish I had more desirable alternatives.While people might characterize $2 an hour as exploitation, they wouldn't say the same about $50 an hour. Therefore, for the most part, when people use the term exploitation in reference to voluntary exchange, they simply disagree with the price. If we equate price disagreement with exploitation, then exploitation is everywhere. For example, I not only disagree with my salary, I also disagree with the prices of Gulfstream private jets.By no means do I suggest that you purge your vocabulary of the term exploitation. It's an emotionally valuable term to use to trick others, but in the process of tricking others, one need not trick himself. I'm reminded of charges of exploitation Mrs. Williams used to make early on in our 44-year marriage. She'd charge, "Walter, you're using me!" I'd respond by saying, "Honey, sure, I'm using you. If I had no use for you, I wouldn't have married you in the first place." How many of us would marry a person for whom we had no use? As a matter of fact, the problem of the lonely hearts among us is that they can't find someone to use them.
--
Economics for the Citizen

 
Walter E. Williams

» Walter E. Williams - all quotes »



Tags: Walter E. Williams Quotes, Authors starting by W


Similar quotes

 

In a market-based labor contract, there is no exploitation. People come to agreement based on their own perceptions of mutual benefit. A person who believes it is better to work for $1 an hour rather than sit at home doing nothing is free to make that contract. In fact, a person who works for a negative wage – who pays for an internship, for example – is free to make that deal too.
I propose to you, then, a definition of exploitation that comes from the writings of William H. Hutt: violence or threat of violence implied in the negotiation of anything affecting the life of a worker or employer. In that sense, the present system is exploitation. Workers are robbed of wages. Employers are robbed of profits. Poor people and young people especially are robbed of opportunity.

 
Lew Rockwell
 

In order for a slave--or, for that matter, a slaveholder--to become free, a series of successive perceptions must be realized. First, the person must perceive that the owners (and slaves) are merely human, that is, putting all rhetoric aside, that there exists a dichotomy of privilege and exploitation, and that the privilege is a result of exploitation. ... The second realization is, once again, that the owners and slaves are merely human, meaning this time that the exploitation and consequent privilege are not inevitable, but the result of social arrangements and force (as well as a huge dollop of bad luck on the part of those enslaved). ... The third realization is yet again that the owners are merely human, by which I now mean they are vulnerable. Wealth does not protect them.

 
Derrick Jensen
 

A: "Your objection to the self-evident has no validity. There is no such thing as disagreement. People agree about everything."
B: "That’s absurd; people disagree constantly, and about all kinds of things."
A: "How can they? There’s nothing to disagree about; no subject matter. After all, nothing exists."
B: "Nonsense. All kinds of things exist, you know that as well as I do."
A: "That’s one. You must accept the existence axiom, even to utter the term “disagreement.” But to continue, I still maintain that disagreement is unreal. How can people disagree when they are unconscious beings who are unable to hold any ideas at all?"
B: "Of course people hold ideas. They are conscious beings. You know that."
A: "There’s another axiom, but even so, why is disagreement about axioms a problem? Why should it suggest that one or more of the parties is mistaken? Perhaps all of the people who disagree about the very same point are equally, objectively right."
B: "That’s impossible. If two ideas contradict each other, they can’t both be right. Contradictions can’t exist in reality. After all, A is A."
Existence, consciousness, identity are presupposed by every statement and by every concept, including that of "disagreement." … In the act of voicing his objection, therefore, the objector has conceded the case. In any act of challenging or denying the three axioms, a man reaffirms them, no matter what the particular content of this challenge. The axioms are invulnerable.
The opponents of these axioms pose as defenders of truth, but it is only a pose. Their attack on the self-evident amounts to the charge. "Your belief in an idea doesn't necessarily make it true; you must prove it, because facts are what they are independent of your beliefs." Every element of this charge relies on the very axioms that these people are questioning and supposedly setting aside.

 
Leonard Peikoff
 

The Indians and Pakistanis exchange insults and beat their chests in order to inflame a 60 year old rivalry, and claim that their respective countries can offer the people they have occupied—and make no mistake, it is an occupation, and an illegal one to boot—a better future than their enemy can. But far from wanting to offer, and indeed being able to offer the Kashmiri people economic security, all that they are supplying the ordinary people of Kashmir are untold war crimes and misery. It is a sickening example of murderous aggresion against a whole peoples for the sake of pride, and one that was being largely overlooked by the world until the spectre of nuclear holocaust came over the continent.

 
Munir Butt
 

You may keep your ten thousand talents; I am not in want of money, I have taken enough. Why only the half of your kingdom to the Euphrates? You offer me the part in exchange for the whole. Your daughter whom you speak of, I shall marry if I choose, whether given by you or not. Your family is safe; no ransom is required of you; come here yourself and make your suit to me, you shall have them free. If you desire our friendship, you have only to ask.

 
Mary Renault
© 2009–2013Quotes Privacy Policy | Contact