"Freedom in economic arrangements is itself a component of freedom
broadly understood, so economic freedom is an end in itself ...
Economic freedom is also an indispensable means toward the achievement
of political freedom."
Milton Friedman
(1912-2006) Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system"
his 1962 book, Capitalism and Freedom
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Reader comments about this quote:
 -- Anonymous      
I'm not sure if complete economic freedom is a wise idea. Should we be free to exploit workers and the environment (thereby denying others' rights to happiness) for our own personal gain?
 -- Anonymous     
    Anonymous, your stated concern is just another socialist's ruse for enslaving the many. True freedom is an harmonization with natural law within the boundaries of justice. But just one legalism (my rights end at your nose) ends such despotic rhetoric. Exploiting workers and the environment with injurious results are criminal acts outside complete economic freedom. One example of the quotes accuracy is the economic freedom indispensable in achieving political freedom is the replacement of funny money (debt) with real money.
     -- MIke, Norwalk     
    He obviously wrote this before the 2007 melt down caused by "freedom" in economic arrangements. He obvioulsy and apparently never read or studied the Gilded Age of the 1880's when the robber barons ran the economic life of the US.
     -- Waffler, Smith     
    Waffler, your liberally obvious misuse of the term 'freedom' exposes the malignant despotism that now infests this land. The freedom you possess to commit murder and to rob doesn't make such actions lawful. The explanation you use also describes the difference between your beloved democracy and the sovereign's constitutional republic. The economically arranged melt down, by the government and their corporate financiers, was made possible, encouraged, and pulled off not, in an atmosphere of lawful freedom but rather, in a criminal atmosphere of legalized plunder - focusing the wealth and power into the hands of the few at the devastation of the many (democracy's displayed segmentation of groups with a criminal head once again; Waffler, you have to ask yourself, since that melt down, why have so many banks dropped their traditional commercial / industrial lending departments in favor of sub-prime commercial departments?). The sovereign's representatives in the limiting constitutional republic would have sought to discover the natural law on the subject and passed codes, regulation, statutes, etc. accordingly - then true economic freedom would have been realized. Economic, as well as all facets of freedom, are found by expressing natural law.
     -- Mike, Norwalk     
    Waffler, you're an amazingly useful idiot. The meltdown was caused by the Clinton Admin and their pal Obama when they took the leash completely off of Freddie Mac and Fannie Mae with their "everyone should own a house" fiasco. Your comment definitely demonstrates your less than basic knowledge of all things economic. Its just another brainwashed Liberal knee jerk reaction.
     -- J Carlton, Calgary     
    J and Mike said it better than I ever could.
     -- jim k, Austin     
    I can only say I fully agree with J Carlton: the economic meltdown was caused by Clinton. Now , Obama healthcare to 32 millions people, where is the money to cover?
     -- Anonymous, Cedar park     
    I don't care J who took the leashes off of those guys and Wall Street but you the fact remains that homo sapiens can be greedy run away pigs without leashes. Man's inhumanity to man is well documented. I must assume you never heard of Madoff, Billy Sol Estes, McKesson & Robbins, and the Republican penchant for "let money run the country". Whatever does not get looked at, audited etcetera runs amok. Obama et al are not now looking at improving Wall Street regulation because they agree with goofy Friedman's dictum to unleash and let the dogs out.
     -- Waffler, Smith     
    The distinction you still fail to make Waffler is the difference between free enterprise and government / corporate cronyism. One is good, one is bad. And your blanket statements running down pure free enterprise have no basis in fact or history anywhere.
     -- J Carlton, Calgary     
    Waffler enjoys leashes; probably ball gags too.
     -- Ken, Allyn, WA     
     -- RBESRQ      
    Anonymous, You speak of complete economic freedom as if it has no controls over it in a free society based on the rights of man. You couldn't be more wrong, If the rights of the individual are first and foremost protected by man with constitutional judicial methods to protect them, any business or individual would be stopped in their tracks if the violation of an American Freeman's rights were even hinted at. The natural rights of the individual, every individual, is out of bounds for anyone to violate.
     -- Anon     
    J you are partly correct. While I am for economic freedom, I still think we need leashes on liars, and fraudsters. What American entrepreneural freedom has given us in the last 20 years or so is a class of people whom come up with good ideas for products and then go to China to find a shop to make and then bring it back to America to sell. Or they hire illegal aliens to make it here so that they don't have to pay American citizens raises or benefits. Believe me I have met entreprenuers that do exactly that and one who told me he prefers illegals for exactly that reason. So don't tell me we that don't have economic freedom or entrepreneurs, we do and they are stiffing us every day.
     -- Waffler, Smith     
    I will say it simply, for the state and fed to administer energy and food asistance to the poor and needy means the cost is to high. A credit based economy is not wise. The allowing of the practice of usery and unchecked gain upon the children of this nation by the wealthy corps and individuals must be removed from power by the swift action of those elected and apointed faithful men who know the words of truth and the word of truth upon which our liberty rest.Regardless of what branch of administration they work for or are in service to.Now is the time to act. If the forest supply and met our needs and wants do not cut down the forest !! Or allow it to be done so thru giving into the temptation of personal gain.We are a world of farmers, hunters and gatherers, enslaved to the age of technology by the manipulation of a few. Where are our faithful men and women at in government protecting the God given rights we hold to be self evident. Do something quickly please. very quickly.Or the price required at first for our freedom in this country will be paid again on this countries soil, being shed needlessly by its own citizens.Act now !! This is a republic act to restore it.Mob rule is no rule when vile men hold office as in a democracy run by greedy people playing one hate for another. Lifting one natal agent up and oppressing the other because of race, or collar is manipulation for gain of those lifted up.Transparency in the hands of a greedy self minded governmentral body is death to our nation and original way of life. Socialisum and comunisum creep in because of the greedy and there lack of compassion for there fellow man and the respect of an indiganuse way of life if so chosen.If one needs to see the rules concerning him that lends and him that lendeth to the children of this nation see the rock upon which the republic rest ! Does the king tax strangers or his children? the answer is obvious. Our government allows this to happen by there manipulation from outside and inside sources.It must stop now ! Clean house now to avoid the bloodshed and cost of our freedom to be paid again in blood if this current governing body does not change its course.Where are our mighty men in service who know the truth. Act now !
     -- R. Pittman, Salem OR     
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