November 5, 2011

Milton Friedman on Capitalism and the Nature of Man

Milton Friedman understood the fundamental nature of man and his arguments for the economic/political system they should live under...capitalism... is only rebutted by idealists, who wish for something different, not realists. The argument is really about which worldview one embraces: a.) man is inherently good and with the proper governance, can become better; or b.) man is fundamentally wired to pursue his own self interest.

If the latter, then capitalism is the correct approach (as Russia and China have discovered). If the former, as present Europe situation portrays and the failed Russian and Chinese models have shown (socialism, communism), failure is inevitable, because it (the socialist state) is not affordable and, as history has shown, is doomed to fail.

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