Milton Friedman Vs. Professor Chicagoalmose on free markets

World famous economist professor chicagoalmose discusses the differences between his ideas of Multiple Tier Capitalism and the ideas of Milton Freidman's free markets.

Category:

News & Politics

Tags:

• Multiple Tier Capitalism
• Milton Freidman
• professor chicagoalmose
• capitalism
• economics
• free markets

[hurtadillo]

you are very funny fellow getting all these ideas from watching videos about friedman. Keep up the great job!

[chicagoalmose]

hurt-I also have a degree in business including a minor in economics. :)

[chicagoalmose]

ijust1- to think that without government intervention that we would not have poor is wishful thinking. it was not government that caused the mortgage crisis or the banking crisis.

[ipwnallnubscuzirock]

I beg to differ. It was in fact the government that set artificially low housing prices so the poor could buy houses they could not afford. This, of course, led to the banking and mortgage crisis. Look at the economics behind price ceilings and I am sure you will agree. Fannie Mae and Freddie Mac, you know the deregulated evil corporations from the free market. They are both government companies. They have recieved many bailouts before and were in fact created by the government.

[chicagoalmose]

ipwnall: Your ideas have much truth in them. However, it was the governments faulty inaction, as well, that led to the deregulation of housing loan standards.Freddie and his sister company Fannie also should have been regulated better instead of deregulated.

It is not clear and simple but I think we are on the same team and would agree on the facts. :)

[freepersmug]

@chicagoalmose  Then why are you so Ill informed?

[ipwnallnubscuzirock]

Hey, sorry it took so long to respond. I am looking through all the comments I've missed over the past 3 months and evaluating whether a reply is needed. I don't think I would agree that Fannie and Freddie need to be regulated or deregulated. Instead I think they should be dismantled as govt entities that are unneeded. The problem of housing was much less serious before they came into existence. It can fix itself much quicker and more effectively than some bureaucrat in DC.

[hurtadillo]

really? On top of that degree you still watch videos to make conjectures about a neoliberal hack and it's ridiculous proposals? Instead of uploading so many insightful videos you could just start reading a couple of books from friedman like capitalism and freedom. Also you might want to get a degree in what is a corporation and capitalism and who invented these terms. If there is no such offered at your university do not panic; you can always read a book by Karl Marx called Das Kapital.

[ijust1]

On your point about the poor, he wouldn't "leave them alone". On the contrary, he would remove the government institutions that drive them into poverty.

On your second point, Milton Friedman stresses over and over that the source of monolithic corporate power stems from government--either in the form of special exemption, arbitrary law inhibiting competition, or most relevant to today a huge influx of cheap credit by the Federal Reserve, at rates far lower than the market wouldve allowed.