pull down to refresh
11 sats \ 5 replies \ @kepford OP 10 Jul \ parent \ on: The Robber Baron Myth - Milton Friedman econ
He's not an Austrian and his views on monetary policy don't align with bitcoin as well as someone like Mises, Hayek, or Rothbard. If you are a big fan I can see that but from where I'm sitting that's not the case. I mean, I think all of these guys should be getting more attention in general but the bitcoin world is far better equipped economically than the rest of the world.
I NEVER hear anyone outside of our circles talk about monetary inflation for example. They only talk about prices and complain. They talk about interest rates. Its maddening when like me you are around people that talk about things that are impacted by monetary policy weekly. I'm not even expecting them to agree with me, but its like its completely invisible to them.
I think this is VERY intentional from the position of the elites. They have done a great job mal-educating the masses on economics. The problem isn't that they don't teach people about supply and demand. Its the invisible nature of the FED and the unit of account being a moving target.
I bring this up sometimes and its like people have antibodies to questioning money supply's affects. They shut it down. Closed minds fully on the topic. Its rather absurd to witness. Its why I don't think information is the solution to our problems. Its gotta be real. Bitcoin making people rich is the ONLY way the system is changed. People are intellectually handi-capped.
reply
Friedman was not a fan of the gold standard or central banks. In fact he supported abolishing the federal reserve bank
reply
There's common ground for sure. I like him, and he had some great talking points and his way of debating people was fun to watch.
reply
My favorite story of his...
While traveling by car during one of his many overseas travels, Professor Milton Friedman spotted scores of road builders moving earth with shovels instead of modern machinery. When he asked why powerful equipment wasn't used instead of so many laborers, his host told him it was to keep employment high in the construction industry. If they used tractors or modern road building equipment, fewer people would have jobs was his host’s logic.
"Then instead of shovels, why don’t you give them spoons and create even more jobs?" Friedman inquired.
Not only was he clever but he had a lot of influence on powerful people of his time.
reply
one of Milton Friedman’s most memorable rhetorical moments...
During the Vietnam War era, Friedman served on President Nixon’s Commission on an All-Volunteer Force, which was tasked with evaluating the feasibility of ending the military draft.
In a public hearing, General William Westmoreland, then commander of U.S. forces in Vietnam, expressed opposition to a volunteer military. He said he didn’t want to command “an army of mercenaries.” Friedman, never one to let a loaded term go unchallenged, replied:
“General, would you rather command an army of slaves?”
Westmoreland objected, saying he didn’t like hearing patriotic draftees referred to as slaves. Friedman shot back:
“I don’t like to hear patriotic volunteers referred to as mercenaries. If they are mercenaries, then I, sir, am a mercenary professor, and you, sir, are a mercenary general. We are served by mercenary physicians, we use a mercenary lawyer, and we get our meat from a mercenary butcher.”
Brilliant reply!
Let's just say General Westmoreland had no comeback, his clip was empty
reply