Milton Friedman Versus A Socialist

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Category:

News & Politics

Tags:

• milton friedman
• socialist
• common sense capitalism

[BrandonCRC]

@zorrostealth It was an analogy... If we let education (college) compete in a free market without federal student loans, the tuition cost would be much cheaper. Without the loans, most people would not be able to afford college. Since the college needs to capture more people in order to make a profit, they would need to cut costs to non-education related things. This would drive down college costs, things such as school exercise rooms could still be offered, however at an additional fee.

[mtb416]

@zorrostealth Free market capitalism is not what you're talking about. Just as Friedman states, monopolies are created through the partnership of the government. In an absolute free market system, monopolies, though capable of being formed, would be far fewer.

Your conclusion is flawed because your premise suggests that we've actually had a truly free market system. We have never, ever had such a thing.

[mtb416]

@zorrostealth Hardly. He was extremely influential in the aftermath of WWI and the financial fallout that followed. It was there where his name was truly made, though at that point he already enjoyed quite a following. 

[apotherix]

@zorrostealth When did I ever say anything about taxation? You're taking things to the extreme here—government exists for a very limited purpose, and to carry out those ends, it should levy a tax. Its main purpose should be nothing more than ensuring that the free market and competition proceed unchecked (this includes preventing monopolies).

And there is no such thing as a corporate tax. It is always passed on to us, the people, as higher prices or lower wages. Corporate tax is a tax on you.

[zorrostealth]

@BrandonCRC What does "well-off" mean? Just because you want a beach house doesn't mean others do. However, egalitarian principles can apply to things like food, education for our children, roads (infrastructure), medical care and retirement. A predatory economic system that is opportunistic towards its working poor will eventually collapse. When people have no food, or shelter, or health then revolution occurs. History has proven this over and over again.

[zorrostealth]

@mtb416 Keynes for hundred years? You're wrong on that account. Keynes economics in the U.S. was primarily between 1945 until the 1970s. And in that period the U.S. experienced expansion and great wealth which was relatively egalitarian. In the 1970's came de-regulation and allowed corporations to do what it wanted and the system has been unraveling ever since.

[zorrostealth]

@Califacience Free market capitalism has historically shown to lead to monopolies. When one corporation controls a product, it leads to price gouging and opportunism which is the opposite of free market capitalism. Without government intervention and break up of monopolies, said corporations would over run government rule. The U.S. is a "democracy." It should not be a government controlled by corporations - sadly, this is the direction it is headed thanks to Friedman's theories.

[zorrostealth]

@apotherix So how does a government pay or acquire revenues to up-hold the rule of law without taxation? I don't think that's possible. And it seems the ones who benefit most from this are the corporations and yet corporations are paying the LEAST amount of tax percentages.

[apotherix]

@zorrostealth You're asking about five different questions. My answer to your first question is simply that I nor Friedman ever said government could NEVER intervene. He's not advocating anarchy. Intervention and the rule of law is necessary to protect a party from 'cheating' in the marketplace. That includes theft, fraud, misinformation, etc. Intervention is not justified, however, when the government wants to pretending it's an investment bank, giving loans, buying equities, etc.

[Califacience]

@zorrostealth

 "Which is it? Government intervention to prevent theft? Or no intervention for free market? "

This question is based upon a fundamental failure to understand what a free market is.