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Milton Friedman illustrates market economies using a pencil.
414,603 Aufrufe • vor 2 Jahren •via X (Twitter)
10 Kommentare
Gotta love this description, which makes it sound like a perfect world, not a greedy one, with companies paying low income to workers, in order to maximize profit for the very few selected.
A template for exploitation.
He made no argument at all: he simply explained the broad development of the division of Labour and then claimed it was due to prices. What the concrete motivation of the individual is to participate in this division of labour, or how prices play a role, remains unexplained.
Free market is good. However, one of its flaws is - human nature.
And everything came from God we are nothing without Him and what He created
Milton Friedman illustrates market economies using a pencil.
Game changer
Ob die @Die_Gruenen und #Habeck dies jemals verstehen werden?? 🤷♀️
Systems with no active controls (checks and balances) don't end well.
To really learn something from this video, one would have to find all the points at which what Friedman says is vacuous, irrational or just plain wrong. To understand how Amazon can sell you a pencil for a "trifling sum", look here:
