Walter Williams,

Race and Economics: How Much Can Be Blamed on Discrimination? 


Colonial Markets Helped To Undermine Slavery


During colonial days, slaves learned skills and found that they could earn a measure of independence by servicing ships as rope makers, coopers, and shipwrights. Some entered more skilled trades, such as silversmithing, gold beating, and cabinetmaking.…

Many slaves exhibited great entrepreneurial spirit … After putting in a day’s work, some slaves were allowed to raise their own crops and livestock. These efforts allowed them to gain a presence in much of the marketing network on the streets and docks of port cities. . . . Market activity by slaves was so great that North Carolina whites mounted a campaign to stop slave “dealing and Trafficking” altogether.

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In Search Of History

Hillsdale College History Prof. Burton Folsom: What The Invention of the Airplane Teaches About Free Markets

The behind-the-scenes story of the airplane demonstrates how private enterprise is needed for innovation and economic growth— and that government subsidies usually fail.

Shadow Stats Snapshot


ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    BLS: 4.7%
    Shadow Stats: 22.7%
  • Inflation:
    February Year-to-Year: 2.74% (CPI-U*)
    Shadow Stats: 10.5%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]