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#1 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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Is Friedman Right?
In an email debate I'm having right now, I was sent the following youtube clips as evidence AGAINST Friedman and my own side (I've been asked to defend certain aspects of libertarian philosophy). To me, these videos SUPPORT Friedman's arguments, but for some reason my opponent refuses to agree with me and views these videos as the smoking gun that Milton Friedman and libertarians seek (or "sought," in the case of Friedman) to create a corporate upper class whose goal is to keep down the lower classes and to corrupt society.
This particular strain of our debate coincided with a couple other debates I've been having around here, such as the one with Francesca in the "Obama wants to end the Bear/Bull Cycle" thread, so I decided to run it past the rest of you and see what your opinions are. Do you agree with the guy in the audience asking the question or do you agree with Friedman? Why? http://youtube.com/watch?v=ev_Uph_TLLo&feature=related http://youtube.com/watch?v=iPqdRqacpFk&feature=related Thanks. |
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#2 |
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Banned
Join Date: Dec 2007
Location: Germany
Posts: 3,799
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Can you provide some background about Friedman for the foreigners please?
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#3 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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He was considered the leading "right-wing" economist in the US until his death in 2006. He won the Nobel Prize in economics for his work on market elasticities and was a staunch advocate of free trade and free markets. He described himself as "Republican with a capital 'R' and libertarian with a lower case 'l'." He also wrote several books about Capitalism and his belief that the more government is involved the less freedom we have.
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#4 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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If they think that about Friedman, there's no point talking to them. It's one thing to disagree about the consequences of various policies, or even about priorities (freedom versus equality, for example). But when you cast your opponents as motivated by evil, well, there's just no conversation to be had.
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"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#5 |
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Cuddly Like a Koala Bear
Join Date: Jul 2007
Location: Florida
Posts: 7,276
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Milton Friedman was as bad as Marx, but he sucked up to the powerful instead of the weak, so he garnered support. His entire philosophy was based on false premises, and everyone who agreed with him was either stupid or self serving.
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#6 |
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Cythraul Enfys
Join Date: May 2006
Posts: 29,301
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#7 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#8 |
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Penultimate Amazing
Join Date: Jan 2003
Location: Japan
Posts: 16,014
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You always seem to resort to insults of a personal nature. You also make very sweeping statements about a man who won a Nobel prize for his work in economics and is considered a giant in his field. Are you capable of civil and reasonable discussion without immediately questioning the morality of those who hold different opinions?
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__________________
“Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them. With Major Major it had been all three.” ― Joseph Heller, Catch-22 |
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#9 |
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Banned
Join Date: Dec 2007
Location: Germany
Posts: 3,799
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Thanks!
Ever heard of a guy who's last name is "von Miese"? The description sounds like him, although I don't know much about von Miese either.I think his.. let's just call it disapproval of certain things on the right are influencing his answers greatly.
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#10 |
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Tea-Time toad
Join Date: Mar 2005
Posts: 15,159
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#11 |
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Tea-Time toad
Join Date: Mar 2005
Posts: 15,159
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#12 |
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Straussian
Join Date: May 2002
Location: Los Angeles
Posts: 7,004
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Quote:
And Friedman compared himself to a doctor advising someone on how to cure a sick patient. Monetarists and rational expectationists nearly drove Keynesians out with their mat and models in the 70s and 80s. When their policies were actually implemented (and did succeed as planned) reality came crashing down again. The problem with Milton Friedman is that people tread on his academic credentials in order to support capitalism in general when his popular writings and lectures are much more basic. "I'm not a conservative; I'm a believer in freedom!" Friedman's academic work/predictions are captured in the old joke about the seven economists lost in the mountains. One of them takes out a map, checks the compass, looks at the sun, and finally declares "I know where we are!" They others excitedly ask him to explain. He points and says, "You see that mountain over there? According to my calculations, we're on top of it." Most of his fans (and the first clip-- I did not bother to check out the second one) do not care about what he has to say about M1, M2 blah blah blah. Instead they're more interested in the interaction between his moral arguments (absence of interference) and his view of human nature (rational self-interest), and how these come together to support a regime of strong private property rights with a lot of talk about incentives thrown in. I do think personality wise libertarians naturally tend to side with the overdog, but there are a few hard-core, populist free-market types who actually care about the poor, lower-middle class, will take the initiative to criticize corporations, dropping bombs, and so on. Most of these, in my experience, tend to be Georgists (or geo-libertarians), however. And its' Von Mises. |
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Arrested Development is coming back! Michael (to GOB): Get rid of the Seaward. Lucille: I’ll leave when I’m good and ready. |
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#13 |
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Graduate Poster
Join Date: Nov 2002
Posts: 1,856
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What are the motivations attributed to Friedman that you consider evil?
Because if you were referring to: "the smoking gun that Milton Friedman and libertarians seek (or "sought," in the case of Friedman) to create a corporate upper class whose goal is to keep down the lower classes and to corrupt society.", that would just be rational self-interest - assuming he was either part of that upper class or received benefits from them in exchange for taking that position. |
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#14 |
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Mormon Atheist
Join Date: Dec 2001
Location: Southern California
Posts: 53,927
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__________________
Ego, ain't it a bitch? It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion. --Adam Smith |
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#15 |
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Mormon Atheist
Join Date: Dec 2001
Location: Southern California
Posts: 53,927
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__________________
Ego, ain't it a bitch? It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion. --Adam Smith |
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#16 |
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Mormon Atheist
Join Date: Dec 2001
Location: Southern California
Posts: 53,927
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You are literally making a guilty by association fallacy. Is there any evidence that Friedman was indifferent to the suffering caused by the dictators? Was he personal friends with the dictators or was his association more professional?
BTW, this is also ad hominem poisoning the well. Freidman may very well have been an evil friend of dictators but that does not invalidate his contributions to economics that one him the Nobel Prize. |
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Ego, ain't it a bitch? It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion. --Adam Smith |
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#17 |
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Graduate Poster
Join Date: Nov 2002
Posts: 1,856
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Corruption benefits a few, at the expense of the rest of society. For those who benefit it is obviously in their self-interest to maintain or expand such corruption.
Similarly, it is in the self-interest of the upper class to maintain or improve their position. And many of the ways to do so are by keeping down the lower classes. Examples include taxation that burdens the lower incomes (income tax, as opposed to capital gains tax), stopping government expenditure that benefits the poor (like free education), and often maintaining government corruption - because the upper class has the financial means to practice and hence benefit from it. Basically I expect the upper classes to use their superior financial means and economic position to advance their position as much as possible within the legal limits, regardless of any detrimental effects on society as a whole. Which is why I support an elaborate regulatory system to prevent such detriments, with measures in place to punish those who cross it. And that's the opposite of the libertarian position. |
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#18 |
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Eigenmode: Cynic
Join Date: May 2004
Posts: 2,545
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__________________
A person who won't think has no advantage over one who can't think. - (paraphrased) Mark Twain Diversity--When all colors and creeds believe exactly as liberals want them to. Or Else! -Coyote |
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#19 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#20 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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For those who want to criticize Friedman, please be specific. If there's something in the video your don't agree with or something in Friedman's theories and writings you don't like, point it out. Otherwise I'll assume you're just full of a bunch of hot air.
On the subject of Pinochet, Friedman said, "Chile is not a politically free system and I do not condone the political system ... the conditions of the people in the past few years has been getting better and not worse. They would be still better to get rid of the junta and to be able to have a free democratic system." He was invited by a private foundation to visit Chile and lecture on the principles of economics. At no point was he an advisor to Pinochet. American economists have also been invited to countries like Zimbabwe, Russia, China, etc. to lecture and to advise on improving the economy. |
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#21 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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Marx merely spawned history's biggest mass murderers.
Did Friedman encourage Pinochet's political repressions? Nope. Did he help him gain power? Nope. All he did was encourage free-market policies. Which faired much better for the people than dictatorships which adopt command economies. And which arguably helped create Chile's peaceful transformation out of that dictatorship. What a criminal he must be. Your smear attempt reveals more about you than Friedman. |
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#22 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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#23 |
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Sarcastic Conqueror of Notions
Join Date: Mar 2004
Location: A floating island above the clouds
Posts: 23,835
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__________________
"Great innovations should not be forced [by way of] slender majorities." - Thomas Jefferson The government should nationalize it! Socialized, single-payer video game development and sales now! More, cheaper, better games, right? Right? |
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#24 |
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Graduate Poster
Join Date: Nov 2002
Posts: 1,856
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#25 |
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Graduate Poster
Join Date: Nov 2002
Posts: 1,856
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Free market theory assumes rational self-interest, as far as I know it makes no mention of justice whatsoever. Which is the point, rational self-interest for one person can result in tremendous injustice to others.
To their credit, libertarians do oppose murder and support property rights. I'm not allowed to take your posessions without your permission. That is good, but insufficient. Suppose I create a pension fund. People put their money in, I invest it and pay myself a handsome wage plus a bonus proportional to the yearly gain. That encourages me to take high risks, increasing my bonus. Unfortunately, because of the high risk the fund went bust during the credit crunch. Fortunately (for me), I still have much of the money I made. No murder was commited, and the people who put their money in did so voluntarily. Too bad they lost everything, including their pensions. The point is that one has to commit neither murder nor theft to rob old ladies. Without comprehensive regulation it can be done legally in a libertarian society. And without the prospect of punishment it would be in my rational self-interest to do so, regardless of how immoral it is. |
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#26 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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The interesting part is that just the OPPOSITE is happening right now. The wealthy bankers and member of the upper class loaned money to members of the lower class who took risks with it and were unable to pay it back. As a result, those banks and upper class individuals are losing A LOT of their money.
In the case of your pension fund example, it's the responsibilities of the two parties engaged in the fund to outline acceptable and unacceptable levels of risk. Should your pension fund manager violate that contract, he will quickly lose all the money he made. Part of investing means taking on risk. Sometimes things don't go your way and you seem to be advocating that we protect people from their own bad decisions. Now, to those who were attacking Friedman earlier, I'm still waiting to hear a specific argument. |
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#27 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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That's fine. Except you're still left with the attribution of evil motives to Friedman. That "free market theory" does not concern itself directly with the notion of justice or evil does not mean you and I should not. The accusation against him is more than just that his policies will inadvertently lead to harm: the accusation is that he intends harm. Claiming that libertarianism doesn't address the issue of social justice doesn't solve the problem with the accusation against him. How can you not recognize this?
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#28 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#29 |
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Tea-Time toad
Join Date: Mar 2005
Posts: 15,159
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really, and do you blame Nietzsche for the Holocaust too?
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#30 |
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Penultimate Amazing
Join Date: Jun 2003
Posts: 26,285
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Ideology has consequences in the real world. Marx created the ideology that was used to excuse and justify more deaths in the 20th century than any other ideology. And it has produced disaster and misery every single time it has been tried. I make no claim that Marx intended these results. But that's still what his works produced.
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__________________
"As long as it is admitted that the law may be diverted from its true purpose -- that it may violate property instead of protecting it -- then everyone will want to participate in making the law, either to protect himself against plunder or to use it for plunder. Political questions will always be prejudicial, dominant, and all-absorbing. There will be fighting at the door of the Legislative Palace, and the struggle within will be no less furious." - Bastiat, The Law |
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#31 |
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Eigenmode: Cynic
Join Date: May 2004
Posts: 2,545
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I think the point there about intentions versus consequences is key. And I would normally think that, to rationalists, intentions are irrelevant when one understand consequences. And this discussion of Pinochet is ridiculous. Does any one here not think that, in general, the application and exercise of economic freedom necessarily produces political freedom? |
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A person who won't think has no advantage over one who can't think. - (paraphrased) Mark Twain Diversity--When all colors and creeds believe exactly as liberals want them to. Or Else! -Coyote |
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#32 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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I am an avid reader of Nietzsche's and a fan of his work, but I DO think he holds a small amount of responsibility when it comes to the Holocaust. He did, however, warn the Germans in his writings that the political climate of the day was ripe for tyrants.
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#33 |
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formerly skeptigirl
Join Date: Feb 2005
Location: Shifting through paradigms
Posts: 40,799
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Much as some people here are critics of Naomi Klein's book, "The Shock Doctrine", I think she does make a case, in spite the hype she surrounds it with, that Milton Friedman's ideas result in a pretty crappy world when put into practice.
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(*Tired of continuing to hear the "Democrat Party" repeatedly I've decided to adopt the name, |
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#34 |
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formerly skeptigirl
Join Date: Feb 2005
Location: Shifting through paradigms
Posts: 40,799
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Communism is clearly a failed economic system. I think both laissez-faire capitalism and communist economics are not well fit with human nature. Regulated capitalism is.
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__________________
(*Tired of continuing to hear the "Democrat Party" repeatedly I've decided to adopt the name, |
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#35 |
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Banned
Join Date: Mar 2006
Location: Montréal
Posts: 25,831
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#36 |
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Salted Sith Cynic
Join Date: Aug 2006
Location: Rat cheer
Posts: 34,371
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__________________
Helicopters don't so much fly as beat the air into submission. "Jesus wept, but did He laugh?"--F.H. Buckley____"There is one thing that was too great for God to show us when He walked upon our earth ... His mirth." --Chesterton__"If the barbarian in us is excised, so is our humanity."--D'rok__ "I only use my gun whenever kindness fails."-- Robert Earl Keen__"Sturgeon spares none.". -- The Marquis |
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#37 |
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Seasonally Disaffected
Join Date: Jan 2003
Location: Chilly Undieville
Posts: 5,670
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__________________
When you believe in things you don't understand, then you suffer . . . " - Stevie Wonder "Stupidity - a callow indifference to facts or data" - Stuart Firestein -neuroscientist. I hate bigots. |
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#38 |
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formerly skeptigirl
Join Date: Feb 2005
Location: Shifting through paradigms
Posts: 40,799
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Nonsense. What the heck does Darwinism have to do with fascism? That is just the Bible apologists trying to justify their claim evolution theory would result in X but we have Y so evolution is false. It's totally a straw man.
[admitted oversimplification] But put Libertarian views into practice and you actually get greedy people acting to defraud others if there is no regulation to stop them. Because there are enough people with a greedy nature that the Libertarian model fails. For example, the market forces are distorted by advertising. You don't get the best product as long as the people selling the crummy product can get people to buy stuff based on false or misleading advertising. So how does the Libertarian model deal with that? Not well. Shermer argues in his latest book along with a few other Libertarians that monopolies are inefficient and the market forces will take care of them on their own. But what that leaves out of the equation is concentration of wealth. That is not the same as monopolies. The way the 'market forces' correct concentrated wealth is with violent overthrow. That is what has happened time and time again in history. Concentrated wealth also leads to concentrated political power and that leads to corruption and cronyism. Again, that is what we see in practice. Fascism is not what we see when we plug evolution theory into a computer simulation model. Why does the communist economic system fail? One, because it requires a lot of control and human nature again is that power corrupts. Another reason is human nature is less motivated with the reward system of 'to each according to need'. [/admitted oversimplification] So your analogy isn't even close. |
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(*Tired of continuing to hear the "Democrat Party" repeatedly I've decided to adopt the name, |
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#39 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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Darwinism was bastardized by the Nazis (modern neo-Nazis included) as a justification for the wholesale slaughter of what they considered to be "lesser" races, i.e. those less fit to survive.
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But if you look around today, you see that the only true monopolies in place are those put into place BY THE GOVERNMENT.
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#40 |
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Graduate Poster
Join Date: Feb 2007
Posts: 1,238
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