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Thursday, November 15, 2012

New Look at some Old Ideas by Milton Friedman

I have recently been turned onto some old PBS based presentations by economist Milton Friedman.
Turns out he is one of the most respected under recognized economist of the mid to late 20th century.   His presentations on PBS aired in the early 80's.

He really advocates for a more limited government and more free market.  Especially, he argues that we need to do it and not wait or try to make the rest of the world go along.  He thinks it will benefit us more even if there is unfair competition out there in the world.


His PBS series of ten(10) video segments and debate are very provocative.  He purports to not have all the ideas but, uses examples around the world where his ideas of limited government are helping to create a better of citizenry and also sights examples where the reverse is true.  He's very good to not make it exclusively about the United States.  As we have become more global and interconnected many of his ideas and principals have become more poignant, prudent and relevant.




I'm going to include a link to all 10 episodes.  Each one is a good hour long so it is a lot of heavy viewing.  He covers topics like schools, free markets, dealing with poverty, consumer regulation, and much much more.


Free to Choose: Part 1: Power of the Market



Free to Choose: Part 2: Tyranny of Control

Free to Choose: Part 3: Anatomy of a Crisis

Free to Choose: Part 4: From Cradle to Grave

Free to Choose: Part 5: Created Equal

Free to Choose: Part 6: What's Wrong with our Schools




Free to Choose: Part 7: Who Protects the Consumer

Free to Choose: Part 8: Who Protects the Worker

Free to Choose: Part 9: How to Cure Inflation

Free to Choose: Part 10: How to Stay Free


Well you may think that some of these topics or elements of discussion are dated.  True they seem to be as things have changed.  Interstate commerce restrictions seem to have been lifted.  Some changes have been made to welfare and the FDA seems to have improved their approval process for drugs.  At least more seem to be getting out into the market though it still can take years of testing.  However, due to some of things that have been brought up in these discussions may well have help win the election.   In light of the points and topics brought up here you might want to rethink Mitt Romney's 47% comment.

He's clearly a libertarian at heart.  And a laissez-faire kind of guy.

The ever difficult task is to find that proper balance of Government intervention and the free market.   To find the proper blend of hands off economics and general protections we expect to have in society.

I'd say that Mitt Romney was more of a Friedman economics guy then Obama, and clearly we would have likely been better off if he had been elected.  Only time and hindsight will tell...........

Just as it will with the whole Gay marriage debate!






So watch the videos if you have not already and become enlightened.   It might not make you change your mind completely but it could help you to see things from more then one side.


Buaidh - NO - Bas

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