What we call the market is really a democratic process involving millions, and in some markets billions, of people making personal decisions that express their preferences. When you hear someone say that he doesn't trust the market, and wants to replace it with government edicts, he's really calling for a switch from a democratic process to a totalitarian one.
Interpretation
The market reflects individual choices and preferences, and replacing it with government control undermines democracy.
Walter E. Williams emphasizes that the market functions as a democratic mechanism where countless individuals express their preferences through personal choices. When people express distrust in the market and advocate for government intervention, they are inadvertently pushing towards a totalitarian system that centralizes decision-making and suppresses individual freedoms.
In practice
During a lecture on economics, one could cite this quote to illustrate the importance of individual choice in market dynamics.
However, if we wish to be compassionate with our fellow man, we must learn to engage in dispassionate analysis. In other words, thinking with our hearts, rather than our brains, is a surefire method to hurt those whom we wish to help.
In a free society, government has the responsibility of protecting us from others, but not from ourselves.
The true test of one's commitment to liberty and private property rights doesn't come when we permit people to be free to do those voluntary things with which we agree. The true test comes when we permit people to be free to do those voluntary things with which we disagree.
Powerful government tends to draw into it people with bloated egos, people who think they know more than everyone else and have little hesitance in coercing their fellow man. Or as Nobel Laureate Friedrich Hayek said, "in government, the scum rises to the top".
If one person has a right to something he did not earn, of necessity it requires that another person not have a right to something that he did earn.
The essence of government is force, and most often that force is used to accomplish evil ends.
We have thought of peace as the passive and war as the active way of living. The opposite is true. War is not the most strenuous life. It is a kind of rest-cure compared to the task of reconciling our differences.
Suffering pulls us farther away from other human beings. It builds a wall made of cries and contempt to separate us.
In Brueghel’s Icarus, for instance: how everything turns away Quite leisurely from the disaster, the ploughman may Have heard the splash, the forsaken cry, But for him it was not an important failure; the sun shone As it had to on the white legs disappearing into the green water, And the expensive ship that must have seen Something amazing, a boy falling out of the sky, Had somewhere to get to and sailed calmly on.
I have no religion, and at times I wish all religions at the bottom of the sea. He is a weak ruler who needs religion to uphold his government; it is as if he would catch his people in a trap. My people are going to learn the principles of democracy, the dictates of truth and the teachings of science. Superstition must go. Let them worship as they will; every man can follow his own conscience, provided it does not interfere with sane reason or bid him against the liberty of his fellow-men.
When people call people nerds, mostly what they're saying is, 'you like stuff.' Which is not a good insult at all, like, 'you are too enthusiastic about the miracle of human conscience.
Dead battles, like dead generals, hold the military mind in their dead grip.
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