Watch Dr. Friedman use the first 4 minutes to completely destroy the peak oil theory. As you may have guessed by now, if you have studied economics at all in your life, is that the free market price system is what Dr. Friedman suggested would be the best solution to the energy crisis that gripped out nation during the entirety of the 1970's. Ronald Reagan was elected President in 1980, and when he led our nation back into the direction of a free market economy, shockingly, the energy crisis abated. Yet, here we are, some 32 years later, and we are once again instituting a system of governmentally directed, "market signals," which have placed us on the precipice of another energy crisis. Once again, we have a group of top down Socialist clowns who are telling us that the cure for problems created by big government interventions is even bigger governmental intervention.
Right off the bat in the Q and A session, Dr. Friedman was hit with a question in which the subject of politics as it relates to economics came up. As usual, Friedman immediately separated the two subjects. Politicians are expert at convincing people that their economic theories are sound and carry the gravitas of approval from the world of economists when in fact this is rarely the case. Presidents, Senators, Representatives, Governors, Mayors, and Dog Catchers mostly get elected by promising a free lunch, even though economists have been telling us forever that there is no such thing as a free lunch. Even though we all realize this on an intellectual level, their tacit agreement is invoked regularly, as if the American People are unable to read.
Comment
Comment by Sharon D. Minton on September 24, 2012 at 10:54am The American free enterprise system has been proven for two centuries, and supply and demand as propelled our economies within that freeenterprise to build a system admired (and hated) by all the world. Shutting down our oil and coil businesses will, with no contest, shut down our economic process of supply and demand. The TAFTA legislation, those not intended, has placed our exports at the most critical deficits of my lifetime. I can only shake my head in disbelief that our government would support the trade idea without designated audits and supports for its success, every year; Congress should legislate monitoring devices against any one country gaining an advantage over US-other Europen Country advantages. Therein lies our dimise in our failed economy. Couple that debocle with unlimited infilitration of unskilled, uneducated foreign workers and we bring our Nation to its knees - which is where we now stand.
Comment by John Wayne Sitterley on September 23, 2012 at 11:23am Though there has been much talk in the Tea-Party to institute the Austrian economic system of von Mises and Hayek, and though it is a good economic system, Milton Friedman's Chicago School of economics, which draws heavy from the Austrian sch, is the best system to implement within the US Treasury and Federal Reserve (after the audit), considering the current exchange of financial goods and services in the global market place today that uses the $18 trillion dollar plus market place. Keynesian economics is done. Milton Friedman's school of economics is by far the best system to replace it. Brilliant man. This economic system is in accordance with our constitution. It is an American system. JW
Comment by Pat Chadwell on September 23, 2012 at 11:21am Also the government is killing American jobs from rules by EPA and others on the false facts that we are causeing global warming.. ! volcano puts out more CO2 in 1 day than the USA does in 1 year. Take our oil and shut it down and that stops jobs. Just like the government is shutting down all coal mines which supply our electrical power plants. What are you going to do with out power????? Now you will be like those in the middle east that dont have anything unless the government or brotherhood give it to you...
Comment by james stamulis on September 23, 2012 at 11:09am i watched Friedman destroy Phil Donahue on a video recently. he was brilliant!
© 2013 Created by Judson Phillips.
You need to be a member of Tea Party Nation to add comments!
Join Tea Party Nation