Happy Birthday Milton Friedman

milton_friedmanNobel award winning economist Milton Friedman was born July 31, 1912 in Brooklyn, New York City, NY. Friedman was the undisputed champion of the proper capitalist system as described by Adam Smith in An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776. He embarrassed the unconstitutional Federal Reserve by proving how they caused the Great Depression. Ben Bernake later admitted they “accidentally” caused the collapse of economies around the world.

Friedman correctly pointed out that in the era of less government regulation, the mass of the people were more well-off than in highly regulated society of today. In fact the “gap” between the poor and the wealthy continues to rise and the mainstream media questions what government regulation it will take to stop it. They championed the $15 an hour minimum wage in Washington which had the result of the loss of jobs as fast food restaurants installed ordering kiosks.

Of his many books, his most noted work is probably Capitalism and Freedom published in 1962. In it he points out the fallacy of “progressives” usurping the term “liberal” to describe their Marxist political philosophy.

His emphasis was on education in skills, instead of degrees in poetry and feminine studies, as a means to escape poverty. He founded the Friedman Foundation for Educational Choice.

Milton Friedman passed away in November of 2006.


Where President Obama’s Promise Zones Can Meet Rand Paul’s Economic Freedom Zones

Across the aisle, Senator Rand Paul introduced a bill to Congress to create “Economic Freedom Zones” that would reduce taxes and ease government regulation in distressed areas.

imgres2Income inequality is the name of the political game in 2014.

Democrats and Republicans alike have taken on the challenge of addressing America’s rampant, deep-seated inequality as the cornerstone of their platform for the upcoming midterm elections.

President Obama made it clear in his 2013 State of the Union address that the growing income gap in America is the greatest challenge of our time. And just this week, Senator Marco Rubio and Congressman Paul Ryan – both potential White House hopefuls – have made the issue their own, with Rubio proposing his own changes to anti-poverty programs and Ryan discussing it with NBC’s Brian Williams.

To be sure, this has traditionally been a Democrat issue and we have recently seen the Democrats push to increase the federal minimum wage and extend unemployment benefits.

Read more at Forbes