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Milton Friedman, Libertarian Party

Milton Friedman, Libertarian Party | “WE ECONOMISTS DON'T KNOW MUCH, BUT WE DO KNOW HOW TO CREATE A SHORTAGE. IF YOU WANT TO CREATE A SHORTAGE OF TOMATOES, FOR EXAMPLE, JUST PASS A LAW THAT RETAILERS CAN'T SELL TOMATOES FOR MORE THAN TWO CENTS PER POUND. INSTANTLY YOU'LL HAVE A TOMATO SHORTAGE. IT'S THE SAME WITH OIL OR GAS.” ~MILTON FRIEDMAN | image tagged in milton friedman libertarian party | made w/ Imgflip meme maker
205 views 9 upvotes Made by NutzD33P 2 years ago in politics
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2 Comments
1 up, 2y
Hardly Libertarian, but definitely worth taking a look at;

(1) a drastic policy of trust-busting of all business firms and unions down to small blacksmith shop size, in order to arrive at “perfect” competition and what Simons conceived to be the “free market”;

(2) a vast scheme of compulsory egalitarianism, equalizing incomes through the income-tax structure; and

(3) a proto-Keynesian policy of stabilizing the price level through expansionary fiscal and monetary programs during a recession.

https://www.lewrockwell.com/2016/02/murray-n-rothbard/total-demolition-milton-friedman/
1 up, 2y
One of Friedman’s most disastrous deeds was the important role he proudly played, during World War II in the Treasury Department, in foisting upon the suffering American public the system of the withholding tax. Before World War II, when income tax rates were far lower than now, there was no withholding system; everyone paid his annual bill in one lump sum, on March 15. It is obvious that under this system, the Internal Revenue Service could never hope to extract the entire annual sum, at current confiscatory rates, from the mass of the working population. The whole ghastly system would have happily broken down long before this.
https://www.lewrockwell.com/2016/02/murray-n-rothbard/total-demolition-milton-friedman/
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“WE ECONOMISTS DON'T KNOW MUCH, BUT WE DO KNOW HOW TO CREATE A SHORTAGE. IF YOU WANT TO CREATE A SHORTAGE OF TOMATOES, FOR EXAMPLE, JUST PASS A LAW THAT RETAILERS CAN'T SELL TOMATOES FOR MORE THAN TWO CENTS PER POUND. INSTANTLY YOU'LL HAVE A TOMATO SHORTAGE. IT'S THE SAME WITH OIL OR GAS.” ~MILTON FRIEDMAN