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View Diary: Another Free Market Fail (77 comments)

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  •  Milton Friedman (11+ / 0-)

    The quote below is from the book Capitalism and Freedom written by
    Milton and Rose Friedman. Dr. Friedman is the economist who is quoted
    most often when conservati­ves are praising free markets and
    capitalism­.

    "But we cannot rely on custom or conscious alone to interpret and
    enforce the rules; we need an umpire. The­se then are the basic role of
    government in a free society;  to provide a means where we can modify
    rules, to mediate difference­s among us on the meaning of rules, and to
    enforce compliance with the rules on the part of those few who otherwise
    would not play the game."

    For whatever reason, this part of Dr. Friedman's philosophy is never mentioned when it comes to making "free markets" work.

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Wed Apr 09, 2014 at 01:50:11 PM PDT

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