freedom, innovation, alternative, choice of: adfilantrop Come grow old together ... from: Port Vote

On this day, November 16, 2007, marks the first anniversary of the death of Milton Friedman, one of the greatest economists of the twentieth century. Qualifications "one of the greatest" is actually redundant - Milton Friedman IS the biggest economist of the twentieth century, at least in the eyes of Zvonimir Radical.
For such a claim will be some (many?) With a smile (contempt?) Say that the more testify about my ignorance metal corner guards of economic thought of the past century, but on some hard facts. Well, when we talk about the "size" of economists, anyway worth it truth is in the eye of the beholder.
For Milton Friedman's single-handedly (as we say - all by himself) ransacked Keynesian dogma that prevailed for most of the 20th century. Dogma, which can be summed up in a single space (extended?) Sentence "COUNTRY IS THE ANSWER TO ALL" !!!
This "answer" after the catastrophic crisis of the 30s years smoked less over all and far from being the answer was (totally) wrong! Capitalism metal corner guards 19th century, which, thanks to a thorough "Marxist" primary education;), the menu always be associated metal corner guards with the syntagm "primitive accumulation of capital" is by no means a beautiful beast and Keynesian solution to a significant increase of the role of government in economic life the nation has brought many good things!
But it is, alas, and kukulele, seeded and seed of its own destruction which has occurred 70s with a period of "stagflation" - rising unemployment and a simultaneous rising inflation, which was something that the Keynesian theory metal corner guards in no way should / could happen! ?
Because he knew, both before Keynesianism became the prevailing dogma!, That in this story there is a catch - when workers (especially those productive) yell more and more to settle higher and higher costs to the State, the time will come when will the worker say, "Enough." With a maximum marginal tax rate of 70% (yes, yes, there was a time when today's Sweden to America was Easy as pie! - We're talking about 60/70-those years) are good Americans and endured:-).
And looking in retrospect, the emergence of stagflation to me and does not seem so strange phenomenon. Because when 10% of the most productive members of society (which are probably already and then "held in their hands" at least 20-30% of the economic life of the United States) has decided that it is not worth so much effort when their government takes such a big part of the hard-earned money , the economic story started in a one-way street. The state has found a (temporary) solution to printing presses fire for printing money, but the basic economic laws of supply and demand have been carried out their and voila - that's inflation. metal corner guards
The story is still significantly more complicated than a summary metal corner guards of what was said here, because they were there and the oil shocks metal corner guards and the costs of Vietnam and the Cold War, and I'm sure the readers in the comments and give his view / explanation.
Quite a bit of the head now missing (but much / too many more "breathing fire"), and for the most credit is due to Milton Friedman, metal corner guards the man who in his work and activities always focus put individual liberty as the ultimate ideal of human society.
The preservation of freedom is the protective reason for limiting and decentralizing state power. But there is also a constructive reason. The great progress of civilization, in architecture or painting, in science or literature, industry or agriculture, is never derived from centralized authority. Columbus did not set out to search for a new route to China obeying the directive of a parliament, although it is partly financed by an absolute monarch; Newton and Leibnitz; Einstein and Bohr; Shakespeare, Milton and Pasternak; Whitney, McCormick, Edison and Ford; Jane Addams, Florence Nightingale and Albert Schweitzer; none of the above is not expanding new horizons of human knowledge metal corner guards and understanding, in literature, in technical capabilities, or in facilitating human misery, obeying metal corner guards the orders of the government.
The authorities will never be able to replicate the diversity and variety of individual metal corner guards action. By setting uniform standards for residential built: with food or clothing, the government can, without a doubt, always improve the level of living of many individuals; specifying standards in education, road construction, or healthcare, the central government can undoubtedly improve the level of results on many specific topics, maybe even an average of entire communities. But the government will simultaneously replace progress stagnation and uniform mediocrity replaced diversity, essential for experimentation, which can lead to tomorrow's substandard results are above today's average. (Transferred from the book Capitalism and Freedom, bold by ZR)
freedom, innovation, alternative, choice of: adfilantrop Come grow old together ... from: Port Vote freely and without fear of: MKN Vatican metal corner guards directive Croatian referendum by: adfilantrop dence does not need a record of: lunoprof
First of all Zvonimir points for effort and style of the article. There's some sort of ideological consistency of where the person and work of Milton Friedman's very nice