The media is obsessing with Rand and Milton Friedman

[pulp8721]

I don't know if it has more to do with their desire to hurt Rand, or their desire to make themselves feel smart, and give the illusion they know anything about monetary policy, but this is getting ridiculous

h ttp ://w ww.business week.com/articles/2013-08-12/rand-pauls-pick-for-the-fed
h ttp://w ww.theatlant ic.com/business/archive/2013/08/rand-paul-loves-milton-friedman-but-milton-friedman-would-have-hated-rand-paul/278589/
ht tp://ww w.businessins ider.com/rand-paul-wrong-milton-friedman-2013-8
htt p://w ww.theatlant ic.com/business/archive/2013/08/rand-paul-knows-nothing-of-milton-friedmans-work/278517/


And of course, the almight Paul Krugman
htt p://ww w.nyt imes.com/2013/08/12/opinion/krugman-milton-friedman-unperson.html?_r=0
htt p://k rugman.b logs.nytimes.com/2013/08/11/friedman-and-the-austrians/

 

[dannno]

Wow, I just lost a lot of respect for Milton Friedman.

These economists writing these articles are also really retarded.

They say how much Friedman was for free markets, but then go onto prove that he really hated free markets. Genius.

 

[Kodaddy]

I can already see it:
"Rand, whose father published racist newsletters,....blah,blah, blah..."

 

[Feeding the Abscess]

I can already see it:
"Rand, whose father published racist newsletters,....blah,blah, blah..."

Welcome to 2009/2010.

 

[RonPaulGeorge&Ringo]

Wha t i s wi th the schi zophr enic spa cing ?

I don't know if it has more to do with their desire to hurt Rand, or their desire to make themselves feel smart, and give the illusion they know anything about monetary policy, but this is getting ridiculous

h ttp ://w ww.business week.com/articles/2013-08-12/rand-pauls-pick-for-the-fed
h ttp://w ww.theatlant ic.com/business/archive/2013/08/rand-paul-loves-milton-friedman-but-milton-friedman-would-have-hated-rand-paul/278589/
ht tp://ww w.businessins ider.com/rand-paul-wrong-milton-friedman-2013-8
htt p://w ww.theatlant ic.com/business/archive/2013/08/rand-paul-knows-nothing-of-milton-friedmans-work/278517/


And of course, the almight Paul Krugman
htt p://ww w.nyt imes.com/2013/08/12/opinion/krugman-milton-friedman-unperson.html?_r=0
htt p://k rugman.b logs.nytimes.com/2013/08/11/friedman-and-the-austrians/

 

[pulp8721]

link breaking

 

[krugminator]

Yeah I don't get what the big deal is.

 

[Deborah K]

Wha t i s wi th the schi zophr enic spa cing ?

That was funny!

Breaking the link prevents the website you're going to from knowing you got it from here.

 

[Matt Collins]

Wow, I just lost a lot of respect for Milton Friedman.

He was the one who came up with income tax withholdings

 

[Feeding the Abscess]

Why not just take the Austrian position instead of going to war for Friedman? What a waste.

 

[Feeding the Abscess]

Wow, I just lost a lot of respect for Milton Friedman.

These economists writing these articles are also really retarded.

They say how much Friedman was for free markets, but then go onto prove that he really hated free markets. Genius.

Talk about an awesome opportunity to bring up actual defenders of free markets and the Austrians. Instead, Rand throws in with Milton 'the FED didn't do enough to stave off the depression' Friedman. Fantastic.

 

[Occam's Banana]

Talk about an awesome opportunity to bring up actual defenders of free markets and the Austrians. Instead, Rand throws in with Milton 'the FED didn't do enough to stave off the depression' Friedman. Fantastic.

Exactly. If you're gonna be attacked for your economics anyway, you might as well be attacked for having the right economics, at least ...

 

[krugminator]

Talk about an awesome opportunity to bring up actual defenders of free markets and the Austrians. Instead, Rand throws in with Milton 'the FED didn't do enough to stave off the depression' Friedman. Fantastic.

The problem is that it actually is true in the real world. When the supply of money drops by a third, wages and prices need to fall dramatically for markets to clear. Unions and human psychology make that really difficult.

It is also a problem for banks. Deflation begets more deflation as money is destroyed. If you have a monthly mortgage payment of $2500 that you could just barely afford and then you have falling wages which causes you default, those defaults can have a cascading effect of more and more default and more and more bank failures.

 

[thoughtomator]

These economists writing these articles are also really retarded.

No respectable person would ever call himself an economist, except in self-depreciation.

 

[whoisjohngalt]

I think many of you fail to understand what made Friedman great. He communicated libertarian ideas to the common man effectively. Purely judged as an economist there is no doubt he was severely lacking. He was like the Ronald Reagan of economics.

It's the same problem that causes so many to hate Rand. Rhetorically, we agree with a huge percentage of what Friedman says and his value as the preeminent economic authority of the day was incredibly valuable. Go watch him on Donahue. Compared to the statism they are pitching, he sounds like an anarchist. Brilliance that has no influence is worthless in politics.

 

[fr33]

The majority of people reading that article are like, "Who the fuck is Milton Friedman? Oh well, Rand's a teabagger."

 

[LibertyEagle]

The majority of people reading that article are like, "Who the fuck is Milton Friedman? Oh well, Rand's a teabagger."

No, the Baby Boomers know who Friedman was. You know, the majority of the voters.

 

[neoreactionary]

Milton Friedman was the best, and I was very happy to see Rand defend him from scurrilous attacks by idiot hacks.

 

[Feeding the Abscess]

I think many of you fail to understand what made Friedman great. He communicated libertarian ideas to the common man effectively. Purely judged as an economist there is no doubt he was severely lacking. He was like the Ronald Reagan of economics.

It's the same problem that causes so many to hate Rand. Rhetorically, we agree with a huge percentage of what Friedman says and his value as the preeminent economic authority of the day was incredibly valuable. Go watch him on Donahue. Compared to the statism they are pitching, he sounds like an anarchist. Brilliance that has no influence is worthless in politics.

And Friedman's political influence was almost, if not entirely, bad. So if Rand is going to have influence while defending Friedman and his ideas instead of Austrians and theirs, it's going to be a negative.

 

[krugminator]

And Friedman's political influence was almost, if not entirely, bad. So if Rand is going to have influence while defending Friedman and his ideas instead of Austrians and theirs, it's going to be a negative.

1. He convinced Nixon to get rid of the draft.

2. His monetary ideas were used to get inflation under control in the early 80's.