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Economy

Lonestarblue

(9,974 posts)

12. Friedman economics are utter BS.

Reply to Warpy (Original post)

Wed Sep 16, 2020, 10:13 PM

Sep 2020

When ai was in business school (admittedly many years ago now), the prevailing theory was that corporations were obligated to three constituencies: shareholders, workers, and customers. Friedman turned that notion upside down and made the selfishness of shareholders the only reason for business to exist. His free market, no hold barred doctrine is why we have such enormous wage equality i this country, which is exactly why Republicans embraced it.

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Highlight:

The 'free market' manifesto that broke America and led to Trumpism [View all] Warpy Sep 2020 OP

K&R for visibility. nt tblue37 Sep 2020 #1

Trump is a christofascist, corporate greed predates Friedman's essay. Thomas Hurt Sep 2020 #2

A corollary to this is detailed in Nancy McLean's book, "Democracy in Chains." alwaysinasnit Sep 2020 #3

K&R Share the hell out of this. IADEMO2004 Sep 2020 #4

Uncle Milty was like the 2naSalit Sep 2020 #5

In 1980 I was thinking about gong back to school and getting an MBA kimbutgar Sep 2020 #6

I always thought Friedman won that Nobel for the density of his prose Warpy Sep 2020 #7

Friedman, may have overlooked physics and more StClone Sep 2020 #8

Excellent post and thank you for it. yonder Sep 2020 #9

Kick lunasun Sep 2020 #10

One thing that's often overlooked, is that corporations have to be incorporated Xipe Totec Sep 2020 #11

I can't think of any corporation that has had its charter revoked by the state Warpy Sep 2020 #15

Friedman economics are utter BS. Lonestarblue Sep 2020 #12

Milton Friedman Was A Paid Shill DAngelo136 Sep 2020 #13

Its good to see others recognize what a PIG Friedman was... doctorzuma Sep 2020 #14

I hate capitalism I_UndergroundPanther Sep 2020 #16

Capitalism can be a good servant but it's a rotten master. Warpy Sep 2020 #17