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View Diary: RIP Milton Friedman (42 comments)

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  •  oh classical liberalism, and random thoughts (3+ / 0-)
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    LondonYank, montpellier, niremetal

    Right, the implementation of his theory was all wrong.  But that was said about Marx. (Now if only we would have truly liberalized the economy and gotten rid of government for everything other than national defense. Then the system would work, it would suffer none of the failures of implementation like communism or other economics theories. But oh wait, in the history of the united states we've kind of tried that. And people were starving and dying in poverty. And people decided they didn't like it.)  Milton Friedman is still a visionary in my book.  But free-market capitalism is a lot like like religion, or socialism.  It's nice idea in theory, but that only gets you so far. Human being exploit the system.  That's just basic game theory for you.

    There are protectionist Republicans and it seems as if many in charge now(albeit outgoing)  are in favor of BIG business, not free business enterprise. They interfere all the time with tax loopholes and displays of favoritism.  The student loan industry is a perfect example.  Take Sallie Mae for instance.  It was the Repubs (and Boehner) who essentially pushed to destroy competition amongst lenders with the Singer Holder Rule.  Bad conservatives.  Not in the spirit of Friedman or Smith at all.  Bad bad.

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