Toddsterpatriot
Diamond Member
This should be a mandatory class for every liberal in America. There is not one thing here in the video that could even be remotely disputed. Not one.
Milton Friedman Part I: Economics 101
This should be a mandatory class for every liberal in America. There is not one thing here in the video that could even be remotely disputed. Not one.
Milton Friedman Part I: Economics 101
Friedman was a brilliant man- of course many economists disagree agree on whether he was correct or not, in particular regarding various portions of his theories.
However, his theory regarding inflation seems to have been proven to be incorrect- since the government has been infusing the country with money for years now and there has been no apparent affect on the inflation rate.
Among Friedman's positions:
Drug policy
Friedman also supported libertarian policies such as legalization of drugs and prostitution. During 2005, Friedman and more than 500 other economists advocated discussions regarding the economic benefits of the legalization of marijuana.[70]
Gay rights
Friedman was also a supporter of gay rights.[71][72] He never specifically supported same-sex marriage, instead saying "I do not believe there should be any discrimination against gays."[72]
However, his theory regarding inflation seems to have been proven to be incorrect- since the government has been infusing the country with money for years now and there has been no apparent affect on the inflation rate.
What did his theory say, specifically, that you feel has been refuted by recent events?
Generalizing very broadly as I understand his theory is that over expansion of the money supply by the government- in specific terms the Federal Reserve expanding the money supply and the use of that money by the government- i.e. helicoptering the money- leads to over inflation.
Which we have not seen from a large expansion of the money supply.
Generalizing very broadly as I understand his theory is that over expansion of the money supply by the government- in specific terms the Federal Reserve expanding the money supply.......leads to over inflation.
It must be then that the expansion of the money supply wasn't large enough to cause inflation.
No refutation of his theories there.