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Who Cares About You?

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.

Alchian, donning a mischievous smile asked, “Williams, have you considered a third alternative, namely, that people don’t give a damn about you one way or another?” Initially, I felt a bit insulted, and our conversation didn’t go much further, but that was typical of Alchian — saying something

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Author
Walter Williams
Walter E. Williams is an American economist, commentator, and academic. He is the John M. Olin Distinguished Professor of Economics at George Mason University, as well as a syndicated columnist and author known for his libertarian conservative views. His writings frequently appear on Townhall.com, WND, Jewish World Review, and hundreds of newspapers throughout the United States.
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