aliceinneverland27 (November 30, 1999 at 12:00 am)

There is a serious endogeneous problem with his claims - we become greedy when we become richer (i.e. there is more to take!, our neighbors have more, etc). We don't become richer because we are greedy (take a look at the financial system!, sure they were greedy, to the extent of wiping out half of the capital market value).

Broncsfan27 (November 30, 1999 at 12:00 am)

Donahue looks convinced and shocked to learn the truth

oscarvenegas (November 30, 1999 at 12:00 am)

Milton Friedman

Luc22a (November 30, 1999 at 12:00 am)

Donahue was puzzled

Bacchant33rd (November 30, 1999 at 12:00 am)

If capital movements are free, tax on currencies are free, there's what economists call a VIRTUAL PARLIAMENT of investors & lenders who actually vote every minute, in fact. If they don't like what the government is doing, they ATTACK the currency. Hence, economic liberalisation is a usurpation of democracy by imposing a private TYRANNY of investors on the populace. "Free-market" policies are really imposing Social Darwinism on the people.

AenigmaTDS (November 30, 1999 at 12:00 am)

I think the Chilean people prefered having a dictatorship with a good economy as opposed to a dictatorship with a bad economy. Milton Friedman was opposed to dictatorships of all kinds, as is any liberal(in the European definition of the term) worthy of that name. Does helping out the people of a country that has a dictator make you evil? If you think that is true,are all those people helping out in Burma after the disaster evil too?

Bacchant33rd (November 30, 1999 at 12:00 am)

But ME, I need the nanny-state to protect me from market discipline so that I'll be able to rant and rave about the marvels of the "Free Market," while I'm getting properly subsidized and funded by everyone else through the nanny-state. And also, this has to be risk free. So I'm perfectly willing to make profits, but I don't want to take risks. If anything goes wrong, YOU bail me out.

Bacchant33rd (November 30, 1999 at 12:00 am)

For those interested in the REAL WORLD, a look at the ACTUAL history suggests a modification of Fee Market theory. To what we might call Really Existing Free Market theory. That is the one that's actually applied, not talked about. And the principle of Really Existing Free Market theory is: Free Markets are fine for YOU, but NOT for me. So YOU, whoever you may be, YOU have to learn responsibility, and be subjected to market discipline, it's good for your character, it's tough love, etc.

flavadaveflynn1 (November 30, 1999 at 12:00 am)

"THe Miracle of Chile" was a term coined by Friedman himself, so it is hardly an objective aphorism. Even if Chile did succeed economically, it does not mean that Friedman should be excused for his actions; he abetted a brutal dictator who was responsible for the death of thousands (including Americans). I suppose the Chilean citizens you spoke to also spoke well of the military junta? Friedman travelled to Chile solely to fortify American hegemony and had no qualms helping an insidious dictator

TimeWarp66 (November 30, 1999 at 12:00 am)

The man was a national treasure.