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Friday, November 17, 2006 12:00 AM

A man who hated government

Conservative economic guru and liberal nemesis Milton Friedman hated intervention of any sort, whether in the market or in recreational drug use.

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  • Friday, November 17, 2006 02:55 PM

    the only way that the empirical evidence supports the view that govts aren't really needed

    is if you ignore that massive amount of damage that is done to a huge percentage of the population due to the fact both that the market is so efficent at keeping wages down that lots of people can't earn a living and the fact that in a complex technological society every individual simply does not have the means of directly knowing all the relevant information needed to make truly informed economic decisons. An unregulated stock market will invariably become a scam and this principle applies to every complex system. A pure free market may work in a village of subsitence farmers exchanging homemade crafts goods. A corporate dictatorship is not a free market in any meaningful sense.

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