Milton Friedman Talks About Enemies of Markets

Dr. Milton Friedman talks about the enemies of free markets during this address to Young America's Foundation's 25th annual National Conservative Student Conference.

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• Milton Friedman
• free markets
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• business
• monopolies
• socialism
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[MindlessGlitch]

@DaviidHiIl I could easily use that same logic to argue the opposite side. That is, government intervened markets are not 'LEGITIMATE' markets. Also, how is government being "subsumed" into the role of corporate asset when it is government making the policy that allows them to buy them off?

The lesson is: governments like money just as much as corporations.

[FRSFreeStateNow]

The "Enemies of the Markets" are monopoly's private and public and socialists who don't believe in Free Markets. As well as Corporate Welfare and their beneficiary's.

[publicanimal]

The biggest misunderstanding of free-market economists is that they advocate putting power in the hands of businesses. I would emphatically agree that one of the few acceptable functions of government is to keep business from subverting the market mechanism and accumulating excessive power and influence over the marketplace. The best way to to this is to ensure that barriers to entry in markets are kept reasonably low. We should be wary of allowing mergers and buy-outs of smaller firms.

[Nintendomanwill]

@DaviidHill

"It's as if SOME market fundamentalists run out of facts & the capacity to deal with arguments against their ideology in a logical fashion"

Oh sorry, I thought you were talking crap so I wasn't refuting anything because you haven't posited any actual arguments to refute. Clearly I'm not seeing the subtle, profound and informed arguments in between your lines of vague criticism! Of my 'ideology' which you NO DOUBT know like the back of your hand. Sorry mate, you're an arrogant fuck.

[Nintendomanwill]

@DaviidHill

See my above comment

'WHY must you talk of these things that you do not understand?'

You have the one true faith no doubt and can, MUST comment at length on the 'perceived genius' of Milton Friedman. Aren't we libertarians such silly heads! We should just ask DaviidHill* what we think, whether people think Friedman is a genius (I do not, for one, no offence to him) and why we think that. He KNOWS!

*(for some reason I read that as Damon Hill, that's why I thought you were British)

[DaviidHill]

@Nintendomanwill, I love how you just totally changed the subject of contention after making an unsubstantiated claim! The Liberal Democrats are poised to win election. People are sick of Labour, but Thatcherism is rather repulsive.

Though to get back on topic, we need only to look at other European countries, namely the Scandinavian countries, to see instances where government regulation has greatly improved the overall wealth & freedom of the average person.

[DaviidHill]

Ad hominem attacks against me don't make your points any more valid. It's as if SOME market fundamentalists run out of facts & the capacity to deal with arguments against their ideology in a logical fashion that they feel they must demean anybody who disagrees with their radical viewpoints as ignorant. Just because you've discovered a philosophical narrative & economic theory that you personally appreciate does not make that ideology the only valid one in the spectrum of human ideas.

[Nintendomanwill]

And no offence, but that comment is just crappy. Take it down! WHY must you talk of these things that you do not understand? It's as if the whole world believes not just in inherently fallacious Social Contract theory but also in that ALL provision for human need should be regulated by economically disinterested, coerced hierarchies selected by ballot not wallet. Economically disinterested means waste, increase of price of goods subject to waste and opportunity cost. Hence 'public'=coerced waste

[Nintendomanwill]

Except that it is necessarily true. Given your username I gather that you're British. I suggest you listen to the two recent prospective PM debates. Their content, especially on immigration (Clegg, Brown, Cameron=CommieNazis) and the banking crisis caused by the central bank, inflation thereof and over-regulation from Father Christmas government in Washington, should convince you of the validity of my dictum; that government's attempts to solve problems aim at problems created by the government.

[DaviidHill]

@Nintendomanwill, it's not necessarily true that government regulation "makes the average person poorer by screwing up the free market." In fact, this turns out patently false in many circumstances. I didn't say Friedman was hypocritical. I merely pointed out the impractical nature of his ideology using its theoretical foundations. Milton Friedman argues against government intervention is this instance because it suits his ideology.