OrbitalPower said:
Russia's economy uppped production by 100-300% in areas such as agriculture, steel production, and so on. It was not a "failure" from the start and would have continued to exist had the liberalization not been enacted, which obviously has not brought Russia up to the standards of modern industrialized countries. They actually decreased.
Russia had to partially "liberalize" their agriculture to keep the entire country from starving. Collectivized farming resulting in famines in both the Soviet Union and China.
And I told you, capitalism will not work without a proper legal, political, and financial system. Russia's legal and political systems, nor their financial system, considering that the government defautled on bonds back in the late 1990s, which almost brought down the world financial system because of LTCM, are exactly sound models for the world to copy.
All industries in the US are backed by the government and the US even has price controls in the form of paying farmers not to grow food and so on.
Those farming price controls are very wrong; Libertarian types call for the end of all farming subsidies and energy industry subsidies. They call for the government to get completely out of both of those industries.
And the industries aren't backed by the government. The government gets it revenues from the corporations and citizens, not the other way around. Most corporations are allowed to fail.
Studies of the Fortune 100 show that all 100 companies have benefitted from government actions in some way and several of them have been saved from complete disaster, including a few in the top 20.
And that is very wrong; the government needs to stay limited to avoid this nonsense of handouts and subsidies.
So yes, all corporations are government backed. There has never been a time in history where corporations competed for land on the basis that they mixed their labor and production with the land, and then came to "own" it. That is not even how corporations were originally designed, yet this is how Austrians claim one should own land.
Land is a free-market like any other. When the government intrudes, the land ends up getting monopolized. Look at California. Why does land cost so much there? Because of their laws regarding the land. They stopped development on land in many areas, which thus has caused those land prices to skyrocket, which is fine for the people who live there already, who see their land and home values appreciate, but very bad for people in the lower classes who want to move out of bad neighborhoods and now can't because the land costs so much.
Whereas in states like Texas or Nevada, where the government doesn't have any such laws, or if so, very few of them, the land remains cheap because developers just develop on more land as more demand for housing occurs, and thus land and housing remain cheap.
The countries in Europe are actually closer to a fairer, even freer market, because they prevent monopolies and their regulations are "across the board," meaning they apply to everyone equally, instead of the favortism US corporations receive.
Europe is a far easier area to build a monopoly in than the United States because it is so difficult to build a business there from the get go. You build up a large business in, say, France, that is good, as you will have very little competition, because it is extraordnarily difficult to build up a business in France. They look down on it.
And the definition of fairness is arbitrary, like "equality" or "social justice."
But in any case, even if the market were free, it would still be tyrannical making public democracy and oversight always necessary.
Whoever said oversight isn't necessary? Arguing for limited government is not arguing for no oversight. It is arguing for no
government oversight. Oversight is most definitely needed. Sometimes, you do need government oversight. But usually the market will create the necessary oversight mechanisms required.
Obviously, I have no interest in Friedman's work and if he was so influential a majority of economists would agree with his school of thought, which they do not, and which many economists have openly condemned as being anti-science, anti-empericial.
That's their opinion. Friedman is also beloved around the world by many people, having influenced many countries around the world with his economics as well. He was highly influential.
And whether or not you are "interested" in his work shouldn't matter. You should read it to
learn, just as Austrians will read Karl Marx or Trostsky; to learn more.
If there were really sources to back up these claims you would have provided. Your posts are simply opinions on how you think society should be run, which, thankfully, most people even in America do not agree with.
Wrong and wrong again. Americans value freedom, and for the most part disdain big government, which is why, thankfully, socialism has never managed to gain a foothold in the United States.
And yes there are sources to back up everything I have said. If you refuse to read them, then I cannot help you.
BTW, the link I provided also provides a link to an academic paper for the
Journal of Political Economy, in which two economists discuss why FDR's New Deal was bad; the New Deal, if you read it, you will see permitted collusion and price-fixing, and cartels to form as well by suspending the Sherman Antitrust Act for certain sectors.
All similar to what the Nazis did and the Italians in their control of prices, wages, production, etc...
understand it mainstream economics, it is not "Friedmanian" in concept, and if these are the claims he is making, I don't see how it is supported by empirical evidence.
And you never will if you refuse outright to read and study any of the man's work. Friedman is not some hack whose work was dismissed long ago. He quite literally influenced the planet with his work.