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FCL Series - Milton Friedman - Capitalism and Freedom

FCL Series - Milton Friedman - Capitalism and Freedom

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FCL Series - Milton Friedman - Capitalism and FreedomThe FCL Series For some length of time now, Ive given some thought to putting
 out something like this. A principal problem is that of labels, and another is thelack of room in a torrent description to write anything approaching even aSYNOPSIS of a clear manifesto. Therefore, I have decided to call this FCL (anacronym for Fiscal Conservative Libertarian) for the sake of brevity and clarity.There are in America (and to a lesser degree in Europe) a huge number of peoplewho would largely fit into this camp. We are the practical, the scientific, theskeptical and the truly logically analytical. We are IN NO WAY dogmatic ororganized, but we generically agree to a certain extent on some core ideas. Wethink people who attend rallies or protests are shmucks. We think people canexpress their political opinions on bumperstickers are too stupid to vote. Wethink whenever we hear the phrase there ought to be a law! that there probably
 shouldnt be. We have differing opinions on abortion, gun control, the death
 penalty, flag burning, and gay rights, but agree categorically that such decisionsought not to be Constitutional issues and are best left to the local voters. Wethink that the Federal Government ought not to do much of anything other than coreresponsibilities, especially if they have no idea how to pay for it. We dont vote
 with out hearts but with our heads. We are never loyal to any party. We are verypro-military, and most of us have served. We dont trust any politician and we
 despise empty symbolism, ignorant populism, and idiotic sloganeering. We are allabout practical economics, actual freedom from the leftist nannies and rightistreligious police, and we like individual responsibility.People like me have been going nuts for a long time with the economic stupiditiesof our government and fellow citizens, the general inability of these tounderstand real long term effects, and we are sick to death of people blaming USfor George Bush instead of the RELIGIOUS and SOCIAL conservatives who elected him.We are NOT neo-cons, dittoheads, or lovers of Fox News, and we are sick and
 tired of lefties telling us we must be supporters of Limbaugh and Falwell. WE arethe people who watch Penn & Tellers BULLSHIT and love SOUTH PARK. We think Obama
 is a very nice fellow whose economic policies at best will lead America on a pathin the long run to a low rent failed soft-core Socialism. Finally, we think thatthe 40% on either side that make up the core of the two major sides are usuallyreaching bad conclusions and voting stupidly because they listen to propaganda anddont truly understand some complicated issues with an honest degree of depth.
Therefore, since there is no shortage of people here with an agenda (some of whichborders on the insane), I am going to put out a collection of material that givesa good accounting of the fiscal conservative point of view. Some of it Ipersonally take as gospel, some of it is merely generic. Speaking as a history andsocial studies teacher, I feel qualified to select materials that reflect thispoint of view. It is my hope that many will increase their knowledge ofcomplicated historical and economic events by this effort. I do not seek to fosterargument or win converts, but merely to explain to the right wingers why we wouldrather have freedom than ban abortion or marijuana, and to get it through to theleft that not everyone who doesnt toe their fantasy line is a flat-Earther or
 fascist. Most of this material will be conservative, and most will deal witheconomics. There will be no political diatribes from dogmatic and non-practicalpeople (Sorry to all the Coulter and Chomsky fans) who are more intent on pushinga fantasy utopia that pursuing practical liberty.Rambam1776Transcribed from Audiotape, torrent originally found on MakeGreatMusic dot Net
 
General Information===================Title: Capitalism and FreedomAuthor: Milton FriedmanRead By: Frances KelleyCopyright: 0Audiobook Copyright: 0Genre: Audio BookAbridged: NoFile Information================Number of MP3s: 11Total Duration: 7:30:17Total MP3 Size: 206.19Parity Archive: NoEncoded At: CBR 64 kbit/s 22050 Hz Joint StereoID3 Tags: Set, v1.1, v2.3http://en.wikipedia.org/wiki/Milton_friedmanhttp://en.wikipedia.org/wiki/Capitalism_and_FreedomIntroductionThe introduction lays out the principles of Friedman's archetypal liberal,a man who supports limited and dispersed governmental power. Friedman opts for thecontinental European, rather than American, definition of the term.i. The Relation between Economic Freedom and Political FreedomIn this chapter, Friedman promotes economic freedom as both a necessaryfreedom in itself and also as a vital means for political freedom. He argues that,with the means for production under the auspices of the government, it is nearlyimpossible for real dissent and exchange of ideas to exist. Additionally, economicfreedom is important, since any "bi-laterally voluntary and informed" transactionmust benefit both parties to the transaction.ii. The Role of Government in a Free SocietyAccording to the author, the government of a liberal society shouldenforce law and order and property rights, as well as take action on certaintechnical monopolies and diminish negative "neighborhood effects." The governmentshould also have control over money, as has long been recognized in theconstitution and society.iii. The Control of MoneyHe discusses the evolution of money in America, culminating in the FederalReserve Act of 1913. Far from acting as a stabilizer, the Federal Reserve failedto act as it should have in several circumstances. Friedman proposes that theFederal Reserve have a consistent rule to increase the money supply by 3-5%annually.iv. International Financial and Trade Arrangements
 
This chapter advocates the end of the Bretton Woods system in favor of afloating exchange rate system and the end of all currency controls and tradebarriers, even "voluntary" export quotas. Friedman says that this is the only truesolution to the balance of trades problem.v. Fiscal PolicyFriedman argues against the continual government spending justified to"balance the wheel" and help the economy to continue to grow. On the contrary,federal government expenditures make the economy less, not more stable. Friedmanuses concrete evidence from his own research, demonstrating that the rise ingovernment expenditures results in a roughly equal rise in GDP, contrasting withthe Keynsian multiplier theory. Many reasons for this discrepancy are discussed.vi. The Role of Government in EducationThe policy advocated here is vouchers which students may use for educationat a private school of their choice. The author believes that everyone, in ademocracy, needs a basic education for citizenship. Though there isunderinvestment in human capital (in terms of spending at technical andprofessional schools), it would be foolish of the government to provide freetechnical education. The author suggests several solutions, some private, somepublic, to stop this underinvestment.vii. Capitalism and DiscriminationIn a capitalist society, Friedman argues, it costs money to discriminate,and it is very difficult, given the impersonal nature of market transactions.However, the government should not make fair employment practices laws (eventuallyembodied in the Civil Rights Act of 1964), as these inhibit the freedom to employsomeone based on whatever qualifications the employer wishes to use. For the samereason, right-to-work laws should be abolished.viii. Monopoly and the Social Responsibility of Business and LaborFriedman states, there are three alternatives for a monopoly: publicmonopoly, private monopoly, or public regulation. None of these is desirable oruniversally preferable. Monopolies come from many sources, but direct and indirectgovernment intervention is the most common, and it should be stopped whereverpossible. The doctrine of "social responsibility", that corporations should careabout the community and not just profit, is highly subversive to the capitalistsystem and can only lead towards totalitarianism.ix. Occupational LicensureThis economist takes a radical stance against all forms of statelicensure. The biggest advocates for licenses in an industry are, usually, thepeople in the industry, wishing to keep out potential competitors. The authordefines registration, certification, and licensing, and, in the context ofdoctors, explains why the case for each one of these is weaker than the previousone. There is no liberal justification for licensing doctors; it results ininferior care and a medical cartel.x. The Distribution of IncomeFriedman examines the progressive income tax, introduced in order toredistribute income to make things more fair, and finds that, in fact, the richtake advantage of numerous loopholes, nullifying the redistributive effects. It

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