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Milton Friedman Speaks: Myths That Conceal Reality (B1226)
FreeToChooseNetwork ^ | Mar 21, 2016 | Milton Friedman

Posted on 02/16/2022 2:06:13 PM PST by UMCRevMom@aol.com

Five myths cloud our perception of both the past and the present:

(1) The “robber baron” myth which holds that in late nineteenth-century America there were powerful men who became rich at the expense of the poor. The reality is that they became wealthy by being productive, and that there is no other period in history which saw such a rapid and widespread improvement in the well-being of the average individual.

(2) The myth that the Great Depression was caused by a failure of business. It was, in fact, produced by a failure of government and specifically by the Federal Reserve System.

(3) The myth that government in the economy has expanded in response to public demand. Actually, the public has had to be sold “hard” for politicians to enact every major social program.

(4) The “free lunch” myth. No matter how the government raises money—by taxing individuals, by taxing businesses, or by printing more money—it is the individual who pays.

(5) The myth that government, like Robin Hood, transfers wealth from the rich to the poor. The reality is that the government usually transfers wealth and income from both the very rich and the very poor to those in the middle.


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To: poconopundit

Yes, I think exactly that. I have as much trust of *any* .inc or LLC as I do of the ATF or FBI.

As with unions (and of course any governmental department), there is something that seems wrong with an entity that is potentially immortal and/or one where the people who actually make and implement decisions are not directly legally and financially liable, being behind a ‘veil’. No one should ever not be directly accountable legally and financially, for any decision they make.


21 posted on 02/17/2022 8:22:54 AM PST by Republican in occupied CA (I will not give up on my native State! Here I was born, here I fight and die!!)
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To: Republican in occupied CA

Hey Republican in occupied CA,

You may be interested in this vanity discussing the ideas of Nassim Taleb, most famous for writing the book The Black Swan.

Nassim Taleb and Skin in the Game: Rules of Honor that Build Civilizations
https://freerepublic.com/focus/f-bloggers/3794069/posts

Cheers...


22 posted on 02/17/2022 12:16:20 PM PST by poconopundit (Hard oak fist in an Irish velvet glove: Kayleigh the Shillelagh we salute your work!)
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