Skip to comments.Milton Friedman - The Free Lunch Myth
Posted on 08/08/2012 6:11:07 PM PDT by Nachum
Milton Friedman explodes the myth that government can provide goods and services at no one's expense
(Excerpt) Read more at youtube.com ...
How I miss him. Even when he was around, Friedman’s insights were not disseminated enough, except during the Reagan era when we actually had a POTUS who was wise enough to surround himself and listen to wise people, often from outside of government.
I am so glad my college economics professor taught Friedman. ‘Capitalism and Freedom’ was one of the course textbooks. He mocked Keynes.
I have said this before, and I doubt that I was the first to say this, but you cannot understand freedom, if you don’t understand Friedman.
I always like to remind them (and anyone else who seems lacking understanding in this area) that nearly everything around us was created at someone else's expense. Although a particular item may be provided at no cost to the end user, there is still a cost associated with it, and that price was paid by someone. It's a lesson that, especially/even with the implementation of ObamaCare, far too few Americans seemed to have grasped.
Thank you for such a terrific post. He had such a gift for explaining complex economics with an elegant simplicity.
“I am so glad my college economics professor taught Friedman.”
My college did, but in a very minor way... I had a philosophy class and there were two volumes on various philosophical minds — thick books, but Friedman was included in very brief fashion.
It was enough. I have sought his thoughts and teachings ever since.
A brilliant man, educator, philosopher, gentlemen, scholar, husband and American icon of intelligence.