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Global Skywatch

Milton Friedman the Trojan Horse economist


Admired by many who understand the unmitigated disaster that is Keynesian economics, Milton believed and acted as though being A Little Bit Pregnant was do-able. He was somewhat non-Keynesian, but way too much a statist and apologist for big government and central bank theft.

Friedman only gets part of what government did to create The Great Depression. FDR’s Folly and Rothbard’s America’s Great Depression explain in detail that every diversion of resources from the private sector to government exacerbated the problem.

His championing “steady, moderate” expansion of the money supply is arguing for a modest amount of outright theft from productive people to the banksters. Five percent a year adds up A LOT in the long run.

Government make-work welfare is still welfare; still taking from the free market to allocate politically.

MIlton’s love for negative income tax is welfare by another name. Socialism is socialism is socialism … always with the same end result… lazy and opportunistic don’t work while the rest carry the burden until it becomes too much.

Perhaps his biggest sin was creating income tax withholding … without that government would never have been able to pull off the rape the IRS does now. Had their bill come at once rather than by a thousand little bites the masses would not have stood for it EVER.

I recommend https://mises.org/ for an education in real, functional, rational economics.