This is Milton Freedman on the fallacy that Economics is about money. Economics is about production and when the government takes money from the productive sector of the economy and spends it, it is not growing the economy.
"It comes from a very ancient democracy, you see ...the people are people. The leaders are lizards. The people hate the lizards and the lizards rule the people........ if they didn't vote for a lizard," said Ford, "the wrong lizard might get in. Got any gin?"" Douglas Adams, So Long and Thanks for All the Fish, 1986
Thursday, March 14, 2013
Friday, August 10, 2012
Whole Foods CEO John Mackey on the Moral Case for Capitalism
In this Reason TV video Whole Foods CEO John Mackey says we need to change the narrative on capitalism and make the moral case for why it is the best system for bettering humanity. He says the narrative has been hijacked by intellectuals who depict capitalism as being solely focused on profits and self-interest while ignoring the value it creates for not only businesses but everyone that touches that business from suppliers to employees to customers.
Let’s not forget Milton Friedman as well.