Skip to comments.The blunt truth about greed and freedom that was delivered over 30 years ago (by Milton Friedman)
Posted on 01/14/2014 10:09:48 PM PST by dennisw
The blunt truth about greed and freedom that was delivered over 30 years ago
Tuesday, Jan 14, 2014 at 2:19 PM EST
On radio this morning, Glenn played a portion of a 1979 interview between Phil Donahue and Milton Friedman, in which Friedman offered a very well-articulated argument in favor of minimizing the role of government in a free market system as a means of creating political and social freedom. It is Friedmans eloquent delivery of what could be considered a complex theme that Glenn was most concerned with.
[We have to be] more than alert and knowledgeable, Glenn said. We have to be able to explain to our fellow citizens what raises our eyebrows, what makes us even more alert, and what we have found in our knowledge Milton Friedman did a great segment on the Donohue show years ago on greed. Listen to what he said.
Watch Friedman and Donahue debate the power of greed:
That is a beat-down of everything thats being said right now, Glenn said. [But] nobody is articulating it that way. He asks the question: Where in the world does greed not rule?
What makes Friedmans delivery so unique is his ability to discuss harsh realities, while holding fast to his principles. Considering the lack of honesty in our world today, Glenn questioned why Friedman is often characterized as a villain.
Nobody is talking about real world stuff. Nobody is saying the truths that need to be spoken. He spoke truth, Glenn concluded. It was clear. It wasnt about politics. It was about basic principles. Milton Friedman should be the most popular guy on every campus because this guy is talking truth.
link to the video of Milton Friedman on the Phil Donahue show saying this
Liberals can’t handle the truth.
""It never occurred to me at the time that I was helping to develop machinery that would make possible a government that I would come to criticize severely as too large, too intrusive, too destructive of freedom. Yet, that is precisely what I was doing. [My wife] Rose has repeatedly chided me over the years about the role that I played in making possible the current overgrown government we both criticize so strongly."
the federale income tax was instituted in 1913
Your right. It was the mandatory withholding that Friedman helped institute in 1943.
My universe doesn't have electrons, so there is no email.
btw Paul Volker is very solid but he advised Richard Nixon on closing the gold window in 1971.
Wartime is when you are in survival mode. All governments run up debt then. You cannot fault Friedman for that advice he gave in 1943
My universe doesn’t have electrons, so there is no email.
TRY TO DO BETTER, SMALL GRASSHOPPER....
Was he involved in the 1983 decision to tax Social Security for the first time, with no inflation adjusted increases in the amount of income exempted. Note: it was $25,000 for singles, and $32,000 for marrieds. No increase in 30 years. Now all my SS is taxed. Not so 10 years ago.
This is the horrible lie that the “other half” of new world order pushes.
NWO presents us with 2 choices: communism or capitalism.
One is unrestrained state control (in truth financed by them out of public view)
The other is unrestrained capitalism (allowing them to conduct business with no laws to restrain them).
It’s a false choice.
The choice to make is for legitimate free enterprise, i.e., restrained by laws.
But whose laws ? New world order hates and rejects the Bible, and its minions scream when one suggests basing a legal system on the Bible, God’s Law Word. New world order wants to make their own laws as they see fit.
The Bible differentiates between legitimately working to provide for your household - and taking what is not rightfully yours. Wanting to take what is not rightfully yours is greed, called covetousness in the Bible. It’s straightforward to understand regarding your neighbor’s goods. But it also applies to simple gluttony; things like not selling that stock when it reaches the market price you had planned - you get greedy, i.e., covetous of more profit - and you hang on to it, and the price drops. You can’t decide whether to accept the lower profit or hang on and hope to see it go up again. Then it goes even lower, below what you paid. You got greedy.
Greed is fairly well identifiable to most people; they instinctively know that greed is wrong. The Bible tells us that God’s law is written on our hearts.
It is true that technological advancements were made often by greedy men; that does not prove that greed is good, because technical progress does not confer righteousness. Many evil and wicked men have made technological progress whilst committing all sorts of wicked acts.
It is a man’s responsibility to provide for his household and to be a good steward over what God blesses him with, so he should be pursuing wealth TO THAT END. That is obviously different from pursuing wealth to satisfy one’s gluttony.
Some will be rich, others poor, but this is not an indicator of righteousness: “the race is not to the swift” (Ecclesiastes). We put forth our best efforts, but ultimately outcomes are God’s will, for us to accept. Because God is Creator, God is sovereign over his creation.
Sometimes we see evil people prosper and good people remain poor. Again, Ecclesiastes is a good book to read on this topic, and Job is as well; there’s nothing new in questioning “why ? why ?”, it’s all been questioned and answered before.
New world order has persisted through the centuries: the old banking families, spread into the European aristocracy, spread to America.
They know about sin very much, and temptation. They tempt everyone else to give in to sin, “greed is good”. Don’t feel guilty about being greedy. Go ahead, take what you want.
Where are those angels Friedman asks. Yes, Milton, we know the doctrine of original sin, we know that all people are sinners and we know that you’re twisting this information by leaving out other information. There are people - imperfect as they are - that do good in the eyes of God - yes, even in the Old Testament. Are they perfect, no. But don’t try to drag everyone down into sin with a lie that says its actually good for everyone to be greedy.
Milton, you know that saying such a thing will tend to make people money crazy. Take what they haven’t rightfully earned - as well as spend more than they should, since “greed is good”. Meanwhile, financial elites are patient investors in for the long run that can take advantage of the “sheeple’s” greed. The elites have their own level of greed; notably the desire to sell to the government at outrageous prices and manipulate people so it continues to borrow from elites and tax the sheeple to feed that greed, taking what is not rightfully theirs. Which meshes in well with “survival of the fittest”.
No, moron, he did not create the income tax. And, BTW, it's Friedman, not Freedman.
The Sixteenth was passed when Friedman was a babe in arms.
However, it is true that, during WWII, he invented the withholding tax, which Congress passed in 1943. However, he realized he'd made a substantial negative contribution, as he later acknowledged:
Far more important, without a system of current collection, it would have been impossible to collect the amount of income taxes that we collected during the war. At the time, we concentrated single-mindedly on promoting the war effort. We gave next to no consideration to any longer-run consequences. It never occurred to me at the time that I was helping to develop machinery that would make possible a government that I would come to criticize severely as too large, too intrusive, too destructive of freedom. Yet, that is precisely what I was doing.
I remember Rush once saying conservatives hate it when you lie to them; liberals hate it when you tell them the truth.
Friedman created the Withholding Tax....while working under FDR. Before then...you paid your income tax at the end of the year...now, it is removed from your paycheck
Friedman is no Free Market advocate. He very much supported the current Free Trade system devised by John Maynard Keynes at Bretton Woods, where the UN and its organizations got to dictate the trade laws. Also, Friedman supported govt control of the money supply....the only difference between Friedman and Keynes was the amount of money circulated
If people would study history, and not failed liberal economists...they would learn more about Friedman. He is no Free Market guru...he was merely Trotsky to Keynes’ Stalin
What troubles me about Friedman and his Fan Boys is that he was no Free Market person...his main Monetarism theories required the government to control aspects of the economy
Also, Friedman supported many of the Free Trade deals that not only stripped America of its wealth...they also surrendered sovereignty to foreign entities...allowing non-American groups to decide our economic laws. There is nothing Free Market in letting the WTO (a UN organization) dictate our trade...this is what Friedman supported...
And what every ignorant Free Trader supports
And what Barack Obama, Al Gore, Hilary Clinton, Nancy Pelosi, et al., support
I love it when Uncle Miltie destroys know-it-all college kids. This is just one example I’ve seen.
This should be required viewing for every high school kid.
Milton Friedman - The role of government in a free society
Free trade without regard to national interest can be disastrous to the point of treason.
National interest economically:
a) Allowing your own nation’s citizens to be used as slave labor, with a few of your own elites profiting but everyone else working for a pittance near bare necessity levels, turns your country into basically a big slave labor camp - one that is beholden to the traders who bring the business. The traders will make sure a few at the top of your society profit immensely as a payoff, but that will serve only to lock in the enslavement, not provide you country any real geopolitical options.
b) allowing your country’s national resources to be depleted by international traders for pennies on the dollar - if your nations citizens don’t build their own personal wealth - means that your nation is getting economically ripped off and kept as nothing more than a bin from which to pull the resources. This is because other than the resource money, your economy is an empty shell. Your nation is completely dependent on the sale of its resources and when the resources are depleted, like the ghost towns of the American Old West, your nation will revert back to being completely backward.
c) In order to be economically strong, citizens in large numbers, i.e., the bulk of the population, must be permitted to be industrious and keep most of their earnings. Having wealth gives one the luxury of time, which gives people time to think, which leads to their purchase of education and information, which makes them even more productive. The higher percentage of a nation’s citizens that are financially comfortable, the more powerful - and hence geopolitically secure - the nation will be.
d) Exports help a nation to be prosperous due to simple arithmetic. Exports are a source of money that does not have to come out of the pockets of a nation’s citizens.
But what happens when the import/export balance shifts far too much to the export side, and a nation exports far more than it imports, and exports increase to become a large part of the nation’s economy ? Just what your instincts tell you: the nation becomes dependent on the exports - and thus highly susceptible to all sorts of manipulation by the international traders who control how much your export partners purchase from you ! This obviously can be devastating to a nation’s domestic politics and business if the international traders decide to throw their weight around.
e) A large trade imbalance on the export side also creates the fundamental problem of international trade imbalance - the increasing difficulty of finding a medium of exchange. Whatever you accept as money will accumulate inside your nation, and, if it is not somehow recycled back out to other countries, the buyers of your slaves’ output will face a shortage of this money. The international traders will always need to foist some hoax on the slave nation, eventually, to allow the trade to continue. In the 1800’s in China, Britain switched from paying in silver to paying in opium after their agents made its use widespread among the Chinese. This resulted in the Opium Wars. Nowadays, China has been convinced to turn around and spend the US Dollars they earn on purchasing US government debt as an “investment”.
f) Of course, a trade imbalance way net negative, where imports vastly outstrip exports creates its own set of problems.
National interest militarily:
All the economic and political relationships above of course all impact a nation’s ability to be able to independently constitute a strong national defense force. Difficulties arise from being: poor, uneducated, manipulated by powerful outside monied interests, etc. The free trade “slave state” a) can be manipulated into getting involved in wars that they have no need to be in, b) while the citizenry can be easily duped or forced into militarizing, uneducated slaves generally make a poor fighting force thus cannon fodder that typically loses wars, c) is a prime target for war profiteering by those same international traders who bring them work for their slaves, etc.
Unrestricted free trade, without regard to national interest, allows international traders enormous ability to profit and to manipulate national governments, economies and markets. Also, international traders can domicile themselves wherever it is convenient - making them “men without country”, having no loyalty to any nation. Their ability to manipulate obviously gives them complete latitude to find ways to plan and instigate wars, especially if groups of traders, domiciled in different nations, work together on such nefarious and treasonous plans. With the details of their communications and planning unknown to the public, the citizens of nations at war as a result of the traders’ actions will have no idea of the real instigators, causes and purposes of the wars they fight.
No, moron, he did not create the income tax. And, BTW, it’s Friedman, not Freedman.
Whew, what a relief. For a time I thought all the obnoxious spelling police were gone from FR.
I looked at that video.Friedman taught that college kid something ...hopefully
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