Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Showing posts with label Milton Friedman. Show all posts
Showing posts with label Milton Friedman. Show all posts
October 22, 2024
Milton Friedman's Defense of Greed Ruined a Whole Generation of Economists ft. Richard Wolff
Labels:
Dr Richard Wolff,
Milton Friedman
November 29, 2019
January 21, 2010
January 17, 2010
December 19, 2009
March 04, 2009
THE TELEGRAPH: Milton Friedman was right to predict that the euro might not survive a recession, notes Simon Heffer.
During the current crisis we have several times heard invoked the wisdom of Milton Friedman about the unfeasibility of the euro as a currency surviving a recession. In an interview not long before his death three years ago, Friedman said: "The euro is going to be a big source of problems, not a source of help. The euro has no precedent. To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states. There have been unions based on gold or silver, but not on fiat money – money tempted to inflate – put out by politically independent entities."
It is what lies below the surface of this observation that is putting not just the euro, but the entire confection of the European Union, under such intense pressure. Any recession would bring into play tensions between idealism and nationalism: the desire by those who pilot the European project to maintain the confection for as long as possible and as intact as possible, that it might come out on the other side of this economic horror bloodied but unbowed; and the inevitable identification of hundreds of millions who stand outside the fantasy world of the political class with their own nation state, their own nationals and their own national interest. Without a degree of coercion beyond what even this undemocratic, Sovietised swindle has attempted in the recent past, the national interest will in the end prevail. >>> Simon Heffer | Wednesday, March 4, 2009
The Dawning of a New Dark Age (Paperback & Hardback) – Free delivery >>>
Labels:
EU,
Europhiles,
Milton Friedman,
Simon Heffer,
the euro
October 24, 2008
Subscribe to:
Posts (Atom)