Wick’s review of Capitalism and Freedom > Likes and Comments
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This text is perhaps the 'best' apologia for neo-liberalism out there, but I see you did not drink the Kool-aid!
Phil wrote: "This text is perhaps the 'best' apologia for neo-liberalism out there, but I see you did not drink the Kool-aid!"
Yeah I'll give Friedman the benefit of the doubt. He probably honestly believed neoliberalism was good for humanity. Historical context is everything. Friedman and Hayak were creatures of their age and produced from forces at that time. I think Friedman was incredibly arrogant and foolish but I'd like to hope he meant well. It's irrelevant now of course. His impact is a total disaster.
What ever his motivations (and that was kind of you), he did try to follow up his convictions with an argument rather than talking points. That is why I still have my students read this in an advanced public policy seminar. For me, the key flaw in the entire argument is that only the government is coercive and the market is always voluntary. If you buy that, the rest follows; if not, the argument is fatally flawed.
Nice review Wick. This is definitely front and foremost of the pantheon of “zombie ideas“ that have been killed by empirical evidence yet continue to shamble on for a variety of nefarious reasons. Ironically I think economist Paul Krugman popularized the idea, having stolen it from elsewhere.
Rick wrote: "Nice review Wick. This is definitely front and foremost of the pantheon of “zombie ideas“ that have been killed by empirical evidence yet continue to shamble on for a variety of nefarious reasons. ..."
Thank you. It's just crazy reading how incredibly flawed and tyrannical neoliberal ideas are and depressing knowing it is still the current world order.
This one is on my reading list. My attention waas captured by your line: "The fairy tale that destroyed the world". Irrespective of how good or bad this book is, as an East European, that title goes to "The Communist Manifesto" and to "Das Kapital". If about 100 million dead and tens of millions of destroyed lives, as well as crippled economies for generations to come, do not count as "destroying the world", I don't know what does.
Qubix wrote: "This one is on my reading list. My attention waas captured by your line: "The fairy tale that destroyed the world". Irrespective of how good or bad this book is, as an East European, that title goe..."
I’m sorry but I have a big problem with your comment. It’s not binary. The myth is that there are only two options. The fact is pure ideology is destructive. State controlled economy is not the answer and I never said it was. Propaganda wants us to believe we only have the two options: capitalism or communism. It is deeply more complex. Most modern economies and governments are Keynesian, protectionist and mostly run by state and corporate collusion
And ironically Friedman is actually pretty moderate compared to the sociopaths the ultra-rich usually idolize - Mises, Rand, Rothbard etc.
Milton Friedman is one of the greatest economists of all time, you couldn't lace his boots. Have some respect.
Joey wrote: "Milton Friedman is one of the greatest economists of all time, you couldn't lace his boots. Have some respect."
He was less an economist and more a magus.
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Phil
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Jan 12, 2022 07:04AM
This text is perhaps the 'best' apologia for neo-liberalism out there, but I see you did not drink the Kool-aid!
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Phil wrote: "This text is perhaps the 'best' apologia for neo-liberalism out there, but I see you did not drink the Kool-aid!"Yeah I'll give Friedman the benefit of the doubt. He probably honestly believed neoliberalism was good for humanity. Historical context is everything. Friedman and Hayak were creatures of their age and produced from forces at that time. I think Friedman was incredibly arrogant and foolish but I'd like to hope he meant well. It's irrelevant now of course. His impact is a total disaster.
What ever his motivations (and that was kind of you), he did try to follow up his convictions with an argument rather than talking points. That is why I still have my students read this in an advanced public policy seminar. For me, the key flaw in the entire argument is that only the government is coercive and the market is always voluntary. If you buy that, the rest follows; if not, the argument is fatally flawed.
Nice review Wick. This is definitely front and foremost of the pantheon of “zombie ideas“ that have been killed by empirical evidence yet continue to shamble on for a variety of nefarious reasons. Ironically I think economist Paul Krugman popularized the idea, having stolen it from elsewhere.
Rick wrote: "Nice review Wick. This is definitely front and foremost of the pantheon of “zombie ideas“ that have been killed by empirical evidence yet continue to shamble on for a variety of nefarious reasons. ..."Thank you. It's just crazy reading how incredibly flawed and tyrannical neoliberal ideas are and depressing knowing it is still the current world order.
This one is on my reading list. My attention waas captured by your line: "The fairy tale that destroyed the world". Irrespective of how good or bad this book is, as an East European, that title goes to "The Communist Manifesto" and to "Das Kapital". If about 100 million dead and tens of millions of destroyed lives, as well as crippled economies for generations to come, do not count as "destroying the world", I don't know what does.
Qubix wrote: "This one is on my reading list. My attention waas captured by your line: "The fairy tale that destroyed the world". Irrespective of how good or bad this book is, as an East European, that title goe..."I’m sorry but I have a big problem with your comment. It’s not binary. The myth is that there are only two options. The fact is pure ideology is destructive. State controlled economy is not the answer and I never said it was. Propaganda wants us to believe we only have the two options: capitalism or communism. It is deeply more complex. Most modern economies and governments are Keynesian, protectionist and mostly run by state and corporate collusion
And ironically Friedman is actually pretty moderate compared to the sociopaths the ultra-rich usually idolize - Mises, Rand, Rothbard etc.
Milton Friedman is one of the greatest economists of all time, you couldn't lace his boots. Have some respect.
Joey wrote: "Milton Friedman is one of the greatest economists of all time, you couldn't lace his boots. Have some respect."He was less an economist and more a magus.
