As much as I would disagree with Milton Friedman, you have to be impressed with his ability to argue and his fun demeanor. He completely stymies the liberal Phil Donahue in this 1979 interview. His influence is probably partly due to the fact that his arguments are very useful to business and concentrated power, but also due to the fact that he is quite persuasive. It seems to me looking at the audience that he is reaching them.
Lets also not forget that Friedman was instrumental, indeed the main person, behind the abolition of the draft. He was against the Iraq war from the beginning. And has continuously said that the biggest threat to capitalism is big business. I think what helps the class in power is not the Friedman's, but the Krugmans and Chomsky's who fight to give more power to government which protects these entrenched business from future competition.
ReplyDeleteWith regard to Friedman's personality, it's not unique to him. It has been my experience that center-right economists tend to be far more civil and polite than center-left. Just look at the Greg Mankiw vs Paul Krugman dialogues. Or Robert Barro vs Paul Krugman. Or Roberts vs DeLong. etc.
Of course, when you get into the extreme right-wing, anarcho-capitalist for example, and the extreme left-wing, near communists for example, then at that point they all seem to be assholes, IMHO. But certainly towards the center, it's usually the right that is alot more "friedman-like". I think it's based on a stronger internal confidence.
I just got around to watching the full video. Ugggh. I don't know how Friedman had the patience to deal with Donahue for so long. I certainly couldn't. Donahue typifies the average populist who knows nothing about economics. This is the mindset I get from non-economists who think they know something about economics. So grating.
ReplyDeleteReally? Chomsky does nothing of the sort and mainly argues on foreign policy issues and takes aim at both Dems and Repubs.
ReplyDeleteI haven't watched the video, but of course Donahue isn't going to stand up well against him. But you gotta give him credit in being willing to have him on as a guest. You don't see that much by Faux Newz hosts.
On Friedman, as well as on the sophistry of HispanicPundit, listen to the Sept. 24 show, last interview with Steve Keen.
ReplyDeleteOn Friedman, as well as on the sophistry of HispanicPundit, listen to the Sept. 24 show, last interview with Steve Keen.
ReplyDeletehttp://www.leftbusinessobserver.com/Radio.html
Friedman's position is essentially let people vote with their money. That's what he calls freedom. But what that means is those with the most money get the most votes. Who likes those conditions? Mega corporations. They have the most money.
ReplyDeleteThat's where power is right now. That's why the Occupy movement is at Wall St, not in Washington. If Golman Sachs breaks the law by selling a product they know is crappy to an unsuspecting pension fund manager that's criminal, and they make billions selling it, billions betting against it, and more billions with a bail out they don't need. Pensioners are out of luck. That's all criminal, but who cares? They are rich. When people get to vote with their money guess what happens when rich people commit crimes? Nothing. In fact in the case of GS they get appointed to the Treasury. That's the Milton Friedmen world even if he didn't intend it.
Meanwhile a poor black homeless man steals $100, turns himself in, and is sentenced to 15 years. Laws are for the weak and poor, not the rich.
http://www.dailykos.com/story/2011/10/20/1028399/-What-the-99-percent-are-whining-about
So where is the real power? It's with big business. We have to check them, and there's only one way to do it. Government. If not government, then what? Of course big business will try and capture government. But what's the alternative? They do that under free market conditions in a sense. That is, if you leave them alone they'll see to it that government is strong and serves them. The only way to stop that is to make government more democratic, less plutocratic. Friedman's policies leads to plutocracy.
Will check that interview Sheldon.
Competition. You miss the whole point...
ReplyDelete"So where is the real power? It's with big business. We have to check them, and there's only one way to do it. Government. If not government, then what?"
ReplyDeleteWell, besides government, militant unions and social movements, that should ultimately influence parties and government.