Alan Greenspan: Free Market Ideology is Flawed.

Padawanbater2

Padawanbater2

Well-Known Member
Just saw a clip earlier this week where Milton Friedman was praising Greenspan for his work at the Fed, now Greenspan himself says he was wrong, interesting.. When was this clip recorded?
 
Padawanbater2

Padawanbater2

Well-Known Member
abandonconflict said:
2008 I think

Friedman also praised Pinochet.
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Friedman has been held up by people who believe they're intellectually superior for years, Kynes was a good example. That school of economic thought is demonstrably flawed, the fucked up thing is most of the kinds of people who buy into the bullshit were raised with some Ayn Rand philosophy on life so they probably don't view capitalism that way. They simply accept that's the way it should work.. The flaws I see they'd probably argue are virtuous and everybody else should just strive harder to be like those with the most money at the top.. Weird fuckin' way to want life to be if you ask me.. especially if you're raising a kid..
 
abandonconflict

abandonconflict

Well-Known Member
Padawanbater2 said:
Friedman has been held up by people who believe they're intellectually superior for years, Kynes was a good example. That school of economic thought is demonstrably flawed, the fucked up thing is most of the kinds of people who buy into the bullshit were raised with some Ayn Rand philosophy on life so they probably don't view capitalism that way. They simply accept that's the way it should work.. The flaws I see they'd probably argue are virtuous and everybody else should just strive harder to be like those with the most money at the top.. Weird fuckin' way to want life to be if you ask me.. especially if you're raising a kid..
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Somewhere at the core of a flawed world view is a misunderstanding of nature.
 
Fogdog

Fogdog

Well-Known Member
abandonconflict said:
Somewhere at the core of a flawed world view is a misunderstanding of nature.
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Well said.
It reminds me of this from Upton Sinclair: "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"

The suppression of education and science in the US is evidence that the elite don't want inconvenient truths to intrude on their easy ways to accumulate wealth.
 
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