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Freidman Speaks

It’s nice to see him smashing Phil Donahue like a bowl of eggs. This clip is roughly 30 years old yet we see the same issues involved as we do today, the very same ones. If our friends occupying various public areas across the country spent less time beating drums and speaking in platitudes and more time listening to the discussion that has taken place in the past, I think they would be occupying the US capitol and various congressional offices and spending less time defiling public parks.

I’m with you to a point occupiers. There are certainly some criminals that messed up our economy. The thing is, that while some of the fault lies with banks, the majority of it lies with our political types (in both parties).

After all, a basic understanding of what actually caused this economic unpleasantness would give the occupiers the revelation that without government intervention, incentivization and general mucking about of the usual variety we wouldn’t be where we are.  However, now that the damage was done, we have to take the medicine to fix it. The best medicine is time and a hard look at the perverse regulatory and incentive structure that got us here in the first place, not doing more regulation and intervention of dubious value and motivation.

The road to Hell is paved with good intentions as we all know. This is how it works, government creates a problem than they come up with a solution that makes it worse.

Categories: Uncategorized
  1. 2011/10/25 at 11:01

    I have to admit this video makes me a bit sad, in large part because you simply don’t see anyone, either on the left or right, speaking with that kind of clarity and insight about markets and their relationship to human nature. Gingrich comes close occasionally.

    As much as I think Donohue was a dimwit personally, at least he had the ability to elicit thoughtful dialogue from someone like Friedman, something neither a Stewart or Colbert seems capable of.

  2. 2011/10/25 at 11:58

    Well he comes from an era where people actually thought about things. The vast majority of people today are only interested in entertainment, as evidenced by the shows you mentioned and many others.

    The line that really does it for me is, “Is it really true that political self interest is somehow nobler than economic self interest? You know, I think you are taking a lot of things for granted. Tell me, where in the world do you find these angels that are going to organize society for us?”

  3. 2011/10/25 at 13:17

    It immediately reminded me of this phrase from the Federalist Papers, #51:

    If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place oblige it to control itself.

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