Ederik Schneider Online

Saturday, November 10, 2012

YAF-TV: Milton Friedman Talks About Enemies of Markets


Source: YAF-TV- Professor Milton Friedman-
Source: YAF-TV: Milton Friedman Talks About Enemies of Markets

The enemies of markets (if you want to put it that way) are people who don't believe in markets. People on the Far-Left who tend to have a social-democratic if not socialist background, who believe the central government should have a major if not the prominent role in society to see that everyone is taken care of. But then there are people who are called crony capitalists. Who believe that government shouldn't interfere with how their business is run (meaning regulation and taxation) but that government which is funded by taxpayers, should give them extra money. So their business is as profitable as possible. And the advantage that crony capitalism has over people who are against crony capitalism is that it's non-ideological, as well as non-partisan. You have proponents of crony capitalism on both the Left and the Right. You have opponents of crony capitalism (I'm one of them on the Left) who are on the Left and the right. Center-Left Liberals such as myself oppose crony capitalism. Center-Right Conservatives and mainstream Libertarians, oppose crony capitalism. Crony capitalism is another way of saying corporate welfare. Which has been around at least since the early 20th Century and it's not going away anytime soon.