Ideas Matter

Now You Know Why it's Milton Friedman's Century

I once heard Sec. George Shultz say "people liked to argue with Milton Friedman when he's not around." In this video you can see why. Unfortunately, you have a guy who wants to ask a "three-part" question. Fortunately, you have a man who can answer each part -- masterfully. Allow me to riff on a couple of Friedman's points that are particularly brilliant.

How Did You Become a Libertarian? (or Classical Liberal, or ...)

...left libertarian, or free-market conservative?

My story starts so predictably I'm almost embarrassed to admit it: my creative writing teacher in high school gave me Atlas Shrugged. And while I don't consider myself a Randian or an Objectivist, I would not be here were it not for Ayn Rand.

So what is your story? Did you read Ayn Rand? Milton Friedman? Friedrich Hayek? Robert Heinlein? Who? Leave a quick response in the comments below! 

Resolving the Immigration Paradox

Immigration is a tough issue. Ben Powell makes a strong economic case for open immigration here. After all, labor is a market. And the market mechanism has a way of reallocating labor in ways that is beneficial for everyone.

Yet we know that there are generous welfare programs in many states that mean immigants can come illegally and gain access to costly social services. If a robust welfare state is available to all comers, this is -- of course -- unsustainable (as it has been in Europe). This was essentially Milton Friedman's more pragmatic position. And he has a point. That is, he was for open immigration as long as the welfare state could be dismantled. And of course it isn't.

So how might we cut this immigration Gordian Knot?

Hypocrites and Half-Wits - Pen or Sword?

Free to Choose Press is proud to present: Hypocrites and Half-Wits: A Dose of Sanity from Cafe Hayek 

You want to work your ultra-liberal friends into a tizzy? What about your stoggy protectionist buddies? Nowhere will you find reasoned economic, and dare-I-say ethical, thinking carried out with such confidence and concision.

Milton Friedman Tribute

On the heels of the "If I wanted America to fail..." the narrator offers a restatement of the pencil story originally told by Leonard Reed (and channeled famously by Milton Friedman). Reed's is still a great version.

What are you doing for Milton Friedman's Century?

Was Milton Friedman Right? What A Difference Thirty Years Makes

What a difference thirty years makes.

Before we get into the evidence, we should mention that Frances Fox Piven seems to be conflating colonialism with capitalism. If, for example, property rights institutions provide a basis for any free enterprise system, it's difficult to see how commerce could have amounted to peasants losing their farms (unless, of course, by lose she means sold). When peasants have their land taken, it's always by governments or cronies colluding with governments to undermine property rights.

But back to the question--relatively speaking (because there is no perfectly free system on earth): Do the most economically free countries tend to produce more freedom and equality?

Inspired Individualized Education in ... Israel

Since having a child -- and since my wife decided to start her own school -- I can't help but be fascinated by education. In fact, I'm always scanning for interesting educational models that you won't find in the government schools, which -- as you know -- enjoy a virtual monopoly that forces people like my wife to compete with "free." The above comes all the way from Israel. 

Milton Friedman on Inflation - Free To Choose Classic

When the original 1980 Free To Choose was aired, inflation was starting to make life tough in the U.S. We were in the waning days of the Carter era. And the economy wasn't looking so good. It's interesting that Friedman was able to augur a long era of relatively low inflation in the U.S. 

That said, a lot of people are under the impression that Friedman was perfectly happy with the Federal Reserve System we have today. But it's better to say that Milton was a pragmatist on such matters. As with many other issues, Friedman understood that well entrenched systems don't just get trashed with a penstroke. One might say Friedman was an early, pragmatic inflation Hawk.

Milton Friedman Friday: Don't Forget it's Friedman's Century

A condition of freedom is rare, says Milton Friedman. And he's right. In order to preserve it -- and especially to restore it -- we've got to celebrate it. We have to celebrate its meaning for us and its implications for the rest of humanity (especially that portion of humanity that still lives under tyranny). That's what Milton Friedman did in his life. Because of his work, people are still rising out of poverty and servitude today.

So how can you celebrate? There are a number of ways...

Saul Bellow and Milton Friedman

In 1976, two Americans both won the Nobel Prize. One in literature, one in economics. Respectively, Saul Bellow and Milton Friedman. In this great video footage from Free To Choose Network, literary maven Richard Stern points out what the two had in common. Do you know?