"The free market enables people to go into any industry that they want; to trade with whomever they want; to buy in the cheapest market around the world; to sell in the dearest around the world. But most important of all, if they fail, they bear the cost. If they succeed, they get the benefit and it's that atmosphere of incentive that has induced them to work, to adjust, to save, to produce a miracle. This miracle hasn't been achieved by government action - by someone sitting in one of those tall buildings and telling people what to do. It's been achieved by allowing the market to work."
Free to Choose, Part 1
Come celebrate Milton Friedman's legacy of freedom at the University of Louisville Belknap Campus, July 29th at 8 AM. Click here to RSVP for Friedman Day 2011!
1 comment:
Friedman has a little more common sense about the "free market" myth than you give him credit for. He also has a caveat:
"“I would like to be a zero-government libertarian, [but] I don’t think it’s a feasible social structure. I look over history, and outside of perhaps Iceland, where else can you find any historical example of that kind of a system developing?”
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