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Milton Friedman

What Is the Purpose of Business?

Isabel Rimanoczy, Ed.D. | Posted 05.19.2015 | Business
Isabel Rimanoczy, Ed.D.

Focusing on the bottom line as the ultimate priority has had an impact on raising unemployment, social crises, environmental challenges, health impacts, to name a few.

On the Great Inflation Canard

Steve H. Hanke | Posted 04.02.2015 | World
Steve H. Hanke

Recall that the world of that era was one in which the fixed exchange rates ruled the roost. That's not today's world. Indeed, many important currencies now float. Since the world adopted a flexible exchange-rate "non-system", changes in inflation can strike like a lightning bolt.

Audit the Fed: What Would Milton Friedman Say?

Steve H. Hanke | Posted 05.05.2015 | Politics
Steve H. Hanke

There is popular support for the idea that the Fed should be audited. More than three-quarters of registered voters would give the general idea of auditing the Fed a green light. It's no surprise, then, that there has been bipartisan support for similar proposals in the past.

People: Has the Message Finally Become Mainstream?

Eduardo P. Braun | Posted 01.14.2015 | Business
Eduardo P. Braun

The World Business Forum New York is a fantastic event. Gathering of thinkers and doers from all over the world, it is the pulse of business; it captures -and sets-- the business trends.

Ghost Of Milton Friedman Materializes In Chicago, Endorses A Price On Carbon

Forest Trends | Posted 12.29.2014 | Green
Forest Trends

Climate scientists agree that we're changing the climate in dangerous ways, and economists say we can slow the mess with a price on carbon. Earlier th...

Conservatives for Stimulus - A New Bumper Sticker

Paul A. London | Posted 12.27.2014 | Business
Paul A. London

I write this, however, not to praise Wal-Mart but to criticize it. Unemployment and underemployment are killing Wal-Mart's middle and lower income customers.

A Few Things the Fed Has Done Wrong

Robert Auerbach | Posted 11.23.2014 | Business
Robert Auerbach

The Bernanke and Yellen Feds have built a $2.7 monetary time bomb that should not be allowed to explode rapidly. The Fed should sell longer-term Treasury bonds to the public as the Fed reduces the interest they pay on the $2.7 monetary trillion time bomb.

The Lament of the Conservative Left

James Peron | Posted 09.24.2014 | Politics
James Peron

Socialism embraced some liberal goals but wanted to offer the security of the old order where disturbing social change was minimized and what change was allowed was carefully controlled.

The Misrule of Law in Croatia

John Feffer | Posted 08.25.2014 | World
John Feffer

Natasha Srdoc, who has done stints in international banking, the think tank world, and politics, is a firm believer in free market capitalism. She doesn't think what took place in former Yugoslavia comes anywhere close to her understanding of how capitalism works.

The New SDS: What Every Young Person Needs to Know About Its Past

Steve Mariotti | Posted 07.27.2014 | Politics
Steve Mariotti

In 1965, Carl Oglesby assumed leadership of the student-activist organization SDS. This change reflected what I believe was an ideological shift in America's left wing: from the East Coast intellectual tradition to the New Left emerging from the Midwest.

Business Ethics

Martin Marty | Posted 06.09.2014 | Religion
Martin Marty

Fifty Catholic academic-ethicists wrote President John Garvey of the Catholic University of America (CUA), protesting the university's acceptance of $1 million from the Charles Koch Foundation to support programs on "principled entrepreneurship."

The National Minimum Wage Is a Moral Crime

Fred Lundgren | Posted 06.03.2014 | Politics
Fred Lundgren

It can be argued that companies dependent upon $7.25 an hour labor to be profitable are not really legitimate businesses, they are publicly supported "corporate welfare recipients."

Time For An Arab Economic Revolution: How Keynes Can Save The Arab Spring

Richard Javad Heydarian | Posted 05.09.2014 | Business
Richard Javad Heydarian

There should be a serious debate on how to reinvent the Arab state, establishing a developmental regime that fosters a reorientation of the national economy towards industrial productivity, agricultural dynamism, and inclusive growth.

Friedman and I on Bitcoin

Steve H. Hanke | Posted 04.26.2014 | Business
Steve H. Hanke

The price action in Bitcoin confirms my diagnosis. In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back more than $1,100.

Shine on You Crazy Dimon!

Steven Conn | Posted 04.05.2014 | Politics
Steven Conn

A world in which corporate boards really believe that they owe nothing to the public is not just a world which results in obscene payouts to Jamie Dimon and his buds. It is a hermetically sealed bubble in which boards fundamentally don't understand their relationship to the rest of us.

The Buck Stops Here

Jill S. Tietjen | Posted 04.05.2014 | Business
Jill S. Tietjen

On February 1, Janet Yellen made "Her Story" when she became the Chair of the Federal Reserve Bank, the first female to hold that position. Many firsts for women in the financial services industry preceded Yellen's appointment.

Chairman Ben Bernanke and Vice Chair Janet Yellen Have Supported an Economic Time Bomb

Robert Auerbach | Posted 01.25.2014 | Business
Robert Auerbach

It is long past time for Vice Chair Janet Yellen, the nominee for Federal Reserve chair, and Chairman Ben Bernanke to describe the Federal Reserve stimulus hoax and the time bomb the Fed created.

Fast Food Strikes: Raising Wages and Saving the Economy

Richard Brodsky | Posted 10.01.2013 | Politics
Richard Brodsky

These are hard-working folks, often with two jobs, who simply can't survive on what they are paid. Think about it. Work 50 hours at $8 bucks an hour, and your weekly pre-tax income is $400, or about $20,000 annually. Raise a family of four on that.

Milton Friedman: Father of the Tea Party?

Sean McElwee | Posted 10.01.2013 | Politics
Sean McElwee

This week is the 101st anniversary of Milton Friedman's birth, and it will be widely celebrated among the vast number of Americans who march in Tea Parties and wear tricorn hats in public. But the new "libertarian populism" is increasingly at odds with the possibility of a shared future.

Milton Friedman Was Wrong About Corporate Social Responsibility

John Friedman | Posted 08.12.2013 | Business
John Friedman

It happens very often when I speak about corporate responsibility. Someone will ask me about Milton Friedman's famous quote: "There is one and only one social responsibility of business -- to increase its profits." In fact they are misquoting and simplifying just one part of Mr. Friedman's statement.

Health Care for the Poor Without Wrecking Health Care for All

Robert Auerbach | Posted 07.28.2013 | Politics
Robert Auerbach

There are ways to preserve and improve the system of excellent care that many insured people in the United States received before the effects of the 2010 Affordable Care Act. Here are some suggestions to offer expanded health care for all.

Rector's Sermon

Henryk A. Kowalczyk | Posted 07.09.2013 | Politics
Henryk A. Kowalczyk

The Heritage Foundation report alarms that it will cost taxpayers $6.3 trillion net dollars if we permit legalization of presently undocumented immigrants. It is a lot of money -- almost 42 percent of the U.S. GDP in 2012 -- so it sounds scary.

Whiny Tiny-Minded Titans & Loophole Logic

Jag Bhalla | Posted 02.05.2013 | Business
Jag Bhalla

What would happen if everybody did the same -- if everybody found a way to create a legal fig leaf loophole that allowed them to evade contributing to the costs of running the country, or rationalized why they should get payments from the public purse?

Angus Burgin and the Power of Free-Market Persuasion

Robert Teitelman | Posted 01.28.2013 | Books
Robert Teitelman

If neoliberalism is the spirit of the age, then what if we have landed in a new age? Burgin recounts how the reaction from both left and right after the financial crisis predicted an upsurge in Keynesiasm or at least greater state activism.

The Bernanke Fed's Policy of Paying Banks to Limit Loans Creates Unemployment

Robert Auerbach | Posted 11.17.2012 | Business
Robert Auerbach

The Bernanke Fed's policy has contributed to unemployment by rewarding banks for not making loans to consumers and businesses. Eighty-five percent of ...