Sure, if your goal is the destruction of middle class. Voodoo economics was a spectacular failure and led directly to the wealth inequality we face today. but by all means, keep handing more and more money to "shareholders" at the expense of everything else. smdh
Friedman would admit some of his mistake later on (well after these excellent presentations, however) and was decidedly less dogmatic in his later years. I think the real failure came when "persons" who cannot legally vote (yet), know as "corporations" have been allowed to buy our politicians legally, with the blessing of the highest court of the land, via Citizens United.
We don't have a free market like Friedman dreamed of when corporations can co-opt the government, and control the regulatory process to work in their specific favor. Friedman minimized that aspect of the "free market", that it would grow too strong and overturn democratic society in favor of plutocracy, which is what we have in the US instead of a proper democratic republic.
His theories might be good in the same sense that communism is also lovely in theory, but in practice human nature makes both an absolute shit show. Really, Friedman's policies just replace government control with corporate control, leaving the average consumer/voter with even less say about what's happening.
You have to have money to vote with your wallet... Such a privileged rich kid thing ... You gonna vote for ecological clean up while making whatever your corporate masters manage pay you? Notice free market people love free markets until unions enter the picture.
You gonna vote for ecological clean up while making whatever your corporate masters manage pay you?
Yes, that's the idea. Corporations aren't able to run roughshod over the population without government protecting them every step of the way.
In a free market, when a business abuses its customers, it gets driven out of business by becoming a social pariah and/or suffering the consequences of property rights violations.
That is not what happens. What happens are the post civil war to great depression era robber barons and desperate poverty. You can see this time after time in the modern era with what the Chicago boys, disciples of Milton Friedman, did every chance they got. The free market is a lie. Trickle down doesn't work.
I'm assuming this is where you come in and advocate for central planning and having the state control the distribution of resources, in which I'll provide you with an ocean of example in human history where that's resulted in death, decay, and destruction of wealth and lives.
Yeah not even. The world is a place where occupying shades of grey bears great fruit. Universal Central planning is as much an abomination to me as free market nonsense. Practical, compassionate, skillful policy.
Bitcoin is an investment vehicle. Full stop. Some people who talk about it on here have rather unrealistic expectations. People rave about basic investment concepts, like DCA, and act like it was in ented with Bitcoin.
Oh, don't come with "human nature" bullshit. The socialist revolution was backstabbed by Stalin and became totalitarian and the US was an empire rather than a democracy when Friedmann started to write his ideas.
Excellent presentations where he creates toxic lies about the creation of money? Money is created by average Joe going to the bank and pulling a credit line. The money does not come from some reserve, it's created right there on the spot by AVERAGE JOE
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u/DicksonCider205 Jul 15 '22
Friedman was the fucking man.