Friday, November 14, 2008

Milton Friedman's Words of Wisdom

Economist Milton Friedman wrote that some “businessmen believe that they are defending free enterprise when they declaim that business is not concerned merely with profit but also with promoting desirable social ends; that business has a social conscience and takes seriously its responsibility for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers.”

Friedman added, “In fact, they are . . . preaching pure and unadulterated socialism (emphasis mine). Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.”

He's always been my favorite economist.

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