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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.