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It's great that they both helped to raise awareness of the dangers of big government from different perspectives. Milton Friedman taught me about the danger of
by cryptica 6y ago
It's great that they both helped to raise awareness of the dangers of big government from different perspectives.
Milton Friedman taught me about the danger of inflation and centralized monetary policy and Sowell opened my eyes to the perverse incentives of bureaucracy.
The combined insights of Milton Friedman and Thomas Sowell give a very good view into what's happening in our modern economy.
I think the main blindspot that the two have (particularly Milton Friedman) is that they don't seem to acknowledge that the pursuit of self-interest is the driving force which creates big governments in the first place. Corporations need big governments to subsidize them and to regulate their competitors out of existence. It's not the public's idealism or sense of altruism which allows governments to become so big, it's just the self-interest of the elite. So the pursuit of self-interest should not be seen as an absolute virtue because it doesn't scale.
- deleted 6y ago[deleted]
- defterGoose 6y ago>So the pursuit of self-interest should not be seen as an absolute virtue because it doesn't scale. QED.