Nobel Prize Winning Economist's Disastrous Ideas
♣t has taken me a very long time to get to what exactly it was that Milton Friedman was talking about. When you know where these foul ideas of the Repukes come from, it is easier to understand them. Milton Friedman, is the most radical economics thinker since Karl Marx. Like Marx, the ideas look so good on paper. Too bad his work doesn't work in reality on a large scale. Friedman is responsible for the 3 foul ideas which guided the Ronnie Reagan Administration, and which were directly responsible for the huge foul up of the American economy.
Here, in a nutshell, are Friedman's most damaging and ineffective ideas:
- First, All government is too large.
- Maximize profit in any way you want. (Even if it means selling defective product. Not to worry, the law prohibits the public from paying for your defective product with a defective check.)
- De-regulate De-regulate De-regulate
I do have to agree with Friedman on one thing: Namely, the legalizing of all drugs. However, like so many others, I got there all by myself, without help from Friedman.