Friedman was wrong. He did a lot of harm to America.
Nice litmus test you got there. Anyone who doesn't bow down and worship at the feet of Friedman is a liberal idiot according to you. Of course name calling and labeling like that is a liberal tactic.
Milton Friedman and the fallacy of good intentions
Milton's legacy includes (From link):
- a highly concentrated banking sector that is “too big to fail” (or to jail) despite rampant illegality and continuance of the very practices that caused the financial meltdown in 2008;
- large-scale off-shoring of manufacturing that has destroyed whole sectors of the U.S. economy; the undermining of the capacity of the U.S. economy to compete internationally;
- the continuing decline of the private sector, with rates of return on assets and invested capital now only one quarter of what they were in 1965;
- the undercutting of the economic recovery that should have taken place after the meltdown of 2008; and
- in a final irony, compensation for the C-suite and the financial sector that is not only inversely proportional to performance but so excessive as to constitute a macro-economic problem of the first order.
That article is absurd, and not on topic of what we’re talking about anyway. The author is talking about something different, and does not make his case.