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Feb 1, 1993 · Friedman discusses a government system that is no longer controlled by “we, the people.” Instead of Lincoln's government “of the people, by the people, and for the people," we now have a government” of the people, by the bureaucrats, for the bureaucrats," including the elected representatives who have become bureaucrats.
Friedman was widely regarded as the leader of the Chicago School of monetary economics, which stresses the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation. He published many books and articles, most notably A Theory of the Consumption Function, The Optimum Quantity
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Jan 30, 2024 · One argument Milton uses a couple of times in his talk and in the discussion has less force than it used to: he objects to taxing poor and low-income people to help middle- and higher-income people. Given the way the federal tax system has evolved, poor people pay no income tax and even lower-income people pay little or no income tax.
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- Milton Friedman on Neoliberalism
- Framing The World in Black and White Language
- Popularizing Free Market Values
Milton Friedman, along with Friedrich Hayek and Ludwig von Mises, was a prominent advocate of free market capitalism and played a significant role in shifting mainstream political economy toward ne...Friedman believed that only a free market could efficiently organize and distribute resources without coercion, and he viewed any government intervention beyond protecting individual safety and pro...Friedman leveraged his academic influence and celebrity status to popularize free market values through radio and television appearances, as well as his book Capitalism and Freedom and the televisi...The Cold War accelerated the trend toward neoliberalism, with Friedman and others framing the debate as a struggle between capitalism and communism, and the fall of the Berlin Wall was seen as a tr...For Friedman, both collectivism and laissez-faire had failed, creating a space for a new philosophy of “neoliberalism,” which privileged unrestrained self-interest while offering a role for the government to “police the system, establish conditions favorable to competition and prevent monopoly, provide a stable monetary framework, and relieve acute...
While “our opponents” sometimes use the example of “depressions and inflation” to critique the free market system, Friedman maintained that the market mechanism was still the most efficient way of organizing society. Galbraith admired Friedman’s capacity to debate, although he refused to make broad and definitive judgments about the ways in which c...
Milton Friedman’s popular television show Free to Choose, which began in 1980, was modeled after his influential 1962 book Capitalism and Freedom, both of which popularized the notion that capitalism is no more than an individual’s freedom to choose within a market, connecting political and economic freedom, while at the same time denouncing commun...
The enormous capabilities of people and governments to create new complications, new contradictions and conflicts, are inexhaustible and go far above and beyond the economists’ powers to bring order into the system. This year’s prize-winner in Economics is Milton Friedman.
Jun 16, 2016 · Although he made many important contributions to both economic theory and policy—most clearly demonstrated by his development of and support for the quantity theory of money—he was also active in various spheres of public policy, where he, more often than not, championed the free market and liberty.
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diminutive man known for his strong-willed and combative style, Mr. Friedman provided the intellectual foundations for the anti-inflation, tax-cutting and antigovernment policies of President Ronald Reagan and British Prime Minister Margaret Thatcher and an era of more-disciplined central banking.
