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Milton Friedman

The Lament of the Conservative Left

James Peron | Posted 07.26.2014 | 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 ...

My Week With Milton Friedman, Part 2

Steve Mariotti | Posted 11.05.2012 | Education
Steve Mariotti

As we walked to breakfast, we talked about the hotly debated issue of whether insurance policies were part of the money supply. Friedman was fascinated by the question, having made part of his reputation on defining how to measure the supply of money

My Week With Milton Friedman, Part 1

Steve Mariotti | Posted 11.04.2012 | Education
Steve Mariotti

Dr. Friedman listened politely while I went on and on about my research on the lengthening of the production structure. At some point, Friedman laughed in his characteristic good-natured way, and simply began to talk over me, ignoring my poor manners.

What Bernanke Couldn't Quite Say

Robert Kuttner | Posted 11.02.2012 | Politics
Robert Kuttner

Today, there is so much public infrastructure in disarray, such a crying need to move the nation to a sustainable energy path, and so great a need for the jobs that could be created by large-scale public investments that more stimulus spending should be a no-brainer. But this alternative is not even being seriously debated. Rather Democratic paths to deficit reduction are jousting with Republican paths. So here is Ben Bernanke -- a Republican, first appointed by George W. Bush, a huge admirer of Milton Friedman -- saying what no other Republican and too few Democrats are willing to say: The problem is not the deficit, but the risk that Congress will overreact to the deficit.

Conservatives Dumped Milton Friedman on His Centennial

Andrew Pavelyev | Posted 10.08.2012 | Politics
Andrew Pavelyev

Tuesday last week would have been Milton Friedman's 100th birthday. The American conservative establishment effectively renounced him on that day.

Think Again: Thoughts on Milton Friedman and Gore Vidal

Eric Alterman | Posted 10.05.2012 | Media
Eric Alterman

Two leading intellectuals of the 20th century now share a birth and a death date. The conservative economist, Milton Friedman, who died in November 2006, would have been 100 years old on Tuesday.

The Battle for Capitalism and Freedom

Mark J. Perry and Robert Dell | Posted 09.30.2012 | Business
Mark J. Perry and Robert Dell

Bad economic policy is misunderstood by the public as the product of bad actors, but the deeper story is one of normal people performing under bad incentives. That is why "the leavening hand of wise policy" is about as useful a concept as the fairy godmother's magic wand.

Romney Says Shareholders Have No Influence Over Corporations. Where Are Our Conservative Economists?

Mitch Rofsky | Posted 09.17.2012 | Politics
Mitch Rofsky

So, Romney is alleging that he is a super-capitalist who owned 100 percent of a company -- and had no influence over it whatsoever. Conservative economic guru Milton Friedman must be spinning in his grave.