Milton Friedman - The Curse of State-Owned Oil
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just like the wasted gold from brazil that portugal was taking in in the XVIII centuary
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In his last seconds before dying he could reason better than most people in their prime.
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@Tidoublemy Mind carefully how you label anarchist beliefs. Friedman's own son is a brilliant anarcho-capitalist and is anything *but* "blind to the effects of [his] own actions."
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@milfrie have his babies
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@Elasaltaculos don't worry, Mr. Nosferatu is immortal.
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@DukeofWellington91 again that has nothing to do with my comment...I was merely pointing out that government intervention in the oil industry in Norway has led to very efficient, successful results. Norway is a relatively homogeneous society that sacrifices certain luxuries for the better of their society...but that's another issue. Again I stress you cant just say that government intervention in anything causes bad results, the historical record speaks for itself. btw Im not from Norway.
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venezuela had privately owned oil companies who leased lands to privately owned foreign companies to drill. Look where that went.
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What Milton misses is that often these dictatorships are imposed from the outside for the purpose of protecting private oil ownership in the region.
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I have studied economy and my conclusion is that GDP per capita and other statistics don't say anything about the living standard. Yes the GDP and the GINI all indicates that it should be better in Norway than in any other country but every person to whom I have spoken to have had better standard of living in a materialist way in the USA, Germany and Sweden. I have lived in Switzerland and the statistics are close to Norway but the purchasing power is so much better than in Norway.
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@LibertyPen
I totally agree....We are starving our society morally for not hving more men like him.
coolmerc3 1 year ago 4
Even is his physically fading days... mentally he never missed a beat. He was a economic Socrates.
KeepEmHonest2010 5 months ago 3