Monday, November 4, 2019

Who Cares About You?

Via KurtP

Image result for Who Cares About You? walter williams

During my student days at a UCLA economics department faculty/graduate student coffee hour in the 1960s, I was chatting with Professor Armen Alchian, probably the greatest microeconomic theory economist of the 20th century. I was trying to impress Alchian with my knowledge of statistical type I and type II errors. I explained that unlike my wife, who assumed that everyone was her friend until they prove differently, my assumption was everyone was an enemy until they proved otherwise. The result: My wife's vision maximized the number of her friends but maximized her chances of betrayal. My vision minimized my chances of betrayal at a cost of minimizing the number of my friends.

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  1. Mr. Williams is a GREAT MAN! Like in the closing sentences of the article above One of the Few Good Men left.