The following is not from the streets of a Middle East country ruled by a dictator. it is from Madison, Wisconsin. Cuts to worker pensions and bonuses to Wall Street banksters. Long live American-style free-markets where pigs gets saved and people get slaughtered!
You are given $10. You have to offer some of it to a stranger. If the stranger accepts your offer, he/she and you both get to keep the money. Otherwise, you will lose all of it. The stranger doesn’t know HOW MUCH you have, but knows that you will lose all of it, if the […]
Fiction writer Ayn Rand and economist Friedman have strong ideas about how the world should be. In Rand’s fictional world, Robinhood-like character is a villain and they have no place in the society. Is it, really? Do Robinhoods promote only laziness among masses? Greenspan, the crackpot and a great disciple of Rand has experimented in […]
In the era of “evil corporations” and full-scale assault on free markets and capitalism, I thought I would share a video of Friedman debating a student at Cornell about self interest and corporations’ profit motive. In the first video, the student quizzes Friedman about a power company that turned off service for non-payment of bills that resulted in […]
At the time of the founding of the United States, European countries were suffering under crippling government regulation. Founding fathers of the United States, in their infinite wisdom, subscribed to the philosophy of freedom instead of feel-good social progressivism. They founded United States on 3 simple tenets of life, liberty, and property*. Life: Government should […]
Adam Smith and Karl Marx are two thinkers that shaped the post-monarchical political framework for the societies. More on these origins later… [Edited inset: I have long argued that communism fell because it tried to restrain one of the basic instincts of human beings – that is, “to be selfish.” During the go-go bubble years […]
