On my blog www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching for Milton Friedman also.
Milton Friedman videos and transcripts Part 3 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman videos and transcripts Part 2 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman videos and transcripts Part 1 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are not present. This is a seven part series. Created Equal [4/7]. Milton Friedman’s Free to Choose […]
Milton Friedman was right about Obama’s misguided view of stimulus many years ago Milton Friedman knew it a long time ago that President Obama was wrong when he blamed the ATM for unemployment. Take a look at this video clip below. He exposes the falacy that ignoring the principle of efficency will help create jobs. This […]
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 1 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Friedman: These youngsters are beginning another day at one of America’s public schools, Hyde Park High School in Boston. What happens when […]
Next year is the 100th anniversary of Milton Friedman’s birth and I get on the computer today and read an article published today on the National Review Online and it quotes Milton Friedman. I wish we would listen to Milton Friedman more often. This article below quotes Friedman and today I am starting a series […]
What does created equal mean according to Milton Friedman? In his article “A test for first among equals,” Arkansas News Bureau, September 30, 2011, Matthew Pate asserted: Among the most familiar passages in the Declaration of Independence is the section reading, “We hold these truths to be self-evident, that all men are created equal, that […]
Milton Friedman’s solution to limiting poverty Liberals just don’t get it. They should listen to Milton Friedman (who is quoted in this video below concerning the best way to limit poverty). New Video Shows the War on Poverty Is a Failure Posted by Daniel J. Mitchell The Center for Freedom and Prosperity has released another […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “Created Equal” (Part 3 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other […]
Free to Choose by Milton Friedman: Episode “Created Equal” (Part 2 of transcript and video) Liberals like President Obama want to shoot for an equality of outcome. That system does not work. In fact, our free society allows for the closest gap between the wealthy and the poor. Unlike other countries where free enterprise and other freedoms are […]
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. PART 4 of 7 The massive growth of central government that started after the depression has continued ever since. If anything, it has even speeded up in recent years. Each year there […]
If you would like to see the first three episodes on inflation in Milton Friedman’s film series “Free to Choose” then go to a previous post I did. Ep. 9 – How to Cure Inflation [4/7]. Milton Friedman’s Free to Choose (1980) Uploaded by investbligurucom on Jun 16, 2010 While many people have a fairly […]
When it comes to college football stadiums, for some teams, it is simply not fair. Home-field advantage is a big thing in college football, and some teams have it way more than others.
There are 124 FBS college football teams, and when it comes to the stadiums they play in, they are obviously not all created equal.
There is a monumental difference from the top teams on the list to the bottom teams on the list. Either way, here it is: a complete ranking of the college football stadiums 1-124.
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Most people in this part of the country knew that Alabama was going to be close to the top of the list. I have seen Alabama play several times over the last 3 decades and they are the real deal.
Paul William “Bear” Bryant is one of America’s all-time most successful college football coaches. At the time of his death, he had won more games than any other coach, including the legendary Amos Alonzo Staggs and Pop Warner. Arkansas-born Bryant remains an icon not only for athletic accomplishments but for personal strength, determination, and the will to win.
Paul William Bryant was born on September 11, 1913, near Kingsland (Cleveland County) in south central Arkansas, to William Monroe Bryant, a farmer, and Dora Ida Kilgore Bryant, a homemaker. Bryant was the eighth surviving child (three died at birth) of a total of nine. He had four brothers and four sisters and was the youngest boy, with one sister born four years after him. Their home was a three-square-mile area called Moro Bottom (sometimes referred to as Moro Bottoms), an unincorporated place where seven families lived.
Due to his father’s ill health and the family’s poverty, Bryant often stayed with his grandfather, W. L. Kilgore, in nearby Fordyce (Dallas County), where he discovered football, playing for the Fordyce High School Redbugs. In 1927, he entered a contest at the Fordyce Theatre promising a dollar to anyone who could wrestle a bear. The teenage Bryant was never paid but acquired the nickname “Bear.”
His 1930–31 Fordyce team had a perfect season and won the 1931 Arkansas High School Football State Championship. An assistant coach from Alabama came to Fordyce in 1931 to scout two other players (who decided to go to the University of Arkansas in Fayetteville) and ended up signing Bryant to an athletic scholarship for the University of Alabama.
As an Alabama player, Bryant helped his team win the Southeastern Conference (SEC) championship during the SEC’s inaugural season in 1933, playing right offensive end. During a 1935 game against Tennessee, Bryant led Alabama to a 25–0 victory despite playing with a broken bone in his leg. That same year, he married campus beauty queen Mary Harmon Black, with whom he had two children, Mae Martin and Paul Jr. Before graduating from the University of Alabama in 1936, Bryant played in the Rose Bowl and helped his team claim the national title.
In 1941, after coaching at Union College (now Union University in Jackson, Tennessee) and Vanderbilt University, Bryant was on his way to Arkansas, where he was being considered to be head coach of the University of Arkansas Razorbacks, when he heard that World War II had begun. He promptly enlisted in the Navy rather than join the Razorbacks. After his military service, he coached football at universities including Maryland, Kentucky, and Texas A&M, where his legend grew in a game when his Aggies trailed 12–0 in the final two minutes yet still managed to win. Bryant had told his team there was still time for them to win if they believed they could, and they went on to score twenty unanswered points, winning the game.
In 1958, Bryant began his twenty-five year tenure as head coach of the University of Alabama. Under Bryant, the Alabama Crimson Tide won national titles in 1961, 1964, 1965, 1978, and 1979. Bryant won this last championship with a perfect season, including his defeat of Lou Holtz’s Arkansas Razorbacks in the Sugar Bowl. He announced his retirement in 1982, with the Crimson Tide winning his last bowl game, the Liberty Bowl in Memphis, on December 29. His record at Alabama was 232–46–9, with his team playing in twenty-four consecutive post-season bowl games. Bryant was Southeastern Conference Coach of the Year ten times, a four-time National Coach of the Year, and he received one and a half votes for the Democratic presidential nomination at the 1968 Chicago convention.
Less than one month after winning the 1982 Liberty Bowl, sixty-nine-year-old Paul “Bear” Bryant died of a heart attack. Following a funeral procession which ran for three miles, he was buried at Elmwood Cemetery in Birmingham, Alabama. A month after his death, he was posthumously awarded the Presidential Medal of Freedom, the nation’s highest civilian award, by Ronald Reagan. At the time of his death, he was the all-time most successful coach in American college football history.
For additional information: Barra, Allen. The Last Coach: A Life of Paul “Bear” Bryant. New York: W. W. Norton, 2005.
Briley, John David. Career in Crisis: Paul “Bear” Bryant and the 1971 Season of Change. Macon, GA: Mercer University Press, 2006.
Bryant, Paul W., and John Underwood. Bear: The Hard Life and Good Times of Alabama’s Coach Bryant. Chicago: Triumph Books, 2007.Dunnavant, Keith. Coach: The Life of Paul “Bear” Bryant. New York: Simon & Schuster, 1996.
Herskowitz, Mickey. The Legend of Bear Bryant. New York: McGraw-Hill, 1986.
Bryant-Denny Stadium is the fifth-largest stadium in the country with a seating capacity of 101,821 people.
It was constructed originally in 1921, and at that point, only had room for 12,000 fans. They have since made a few additions to the place.
Tailgating here is a must, as motor homes can seemingly be seen for miles around the stadium.
The team makes the “Walk of the Champions” before the game. The crowd is screaming and yelling throughout, giving the Crimson Tide the biggest home-field advantage in the SEC.
1. Memorial Stadium: Clemson Tigers
Known nationwide as “Death Valley,” this venue is the best place in the country to enjoy a college football game.
It seats 80,301 and was built in 1942. The stadium will be filled with orange, as the crowd loves to support their Tigers.
There are not many fans in the country that are more passionate about their team than this group.
When Clemson is playing well and the game is going good, the noise in here is as loud as it gets in college football.
Tennessee Football – Johnny Majors – GREAT – Joining the VOLS in 1952 Uploaded by TheMemphisSlim on Sep 3, 2010 Johnny Majors from Huntland, TN tried out for the UT Football team weighing 150 pounds. His Father, Shirley Majors his HS Coach,encourage him and then 4 younger brothers all to be Vols. Johnny Majors was […]
South Carolina D vs Arkansas O 2011 Tennessee ’86 Sugar Bowl Memories by Russ Finley Uploaded by yankeefanintenn on Dec 12, 2009 All video footage is copyright of WATE-TV6 and the University of Tennessee, but legally reproduced here in conjunction with Fair Use laws. Vols feature (1986 win over Miami 35-7 in the USF&G Sugar […]
Vanderbilt Highlights vs. Arkansas – Oct. 29, 2011 Memphis 21 Tennessee 17 excerpt from “1996 Tiger Football Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for some teams, […]
Final Moments of Kentucky vs. Tennessee Football Game 2011 Uploaded by videorocker112 on Nov 27, 2011 Kentucky wins 10-7 and ends the 26 year losing streak!! Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When […]
THE FLEA KICKER – Nebraska vs. Missouri 1997 Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for some teams, it is simply not fair. Home-field advantage is a […]
Arkansas vs. Troy (2007 Football) 2010 Music City Bowl North Carolina vs Tennessee Uploaded by piotrkol1 on Jan 1, 2011 Highlights of North Carolina’s win over Tennessee in the 2010 Music City Bowl. Tennessee had the home-field advantage with the game being played at LP Field in Nashville, and the Volunteers thought they had won […]
Rice 27 BYU 14 (1997 2nd half) Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for some teams, it is simply not fair. Home-field advantage is a big […]
Kansas Football 2007 Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for some teams, it is simply not fair. Home-field advantage is a big thing in college football, […]
2011 Arkansas State Football Highlights Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for some teams, it is simply not fair. Home-field advantage is a big thing in […]
Arkansas VS Tulsa 2008 Uploaded by jonesark on Nov 2, 2008 Arkansas entering the field to play #19 Tulsa. Here is a list of the top football stadiums in the country. Power Ranking All 124 College Football Stadiums By Alex Callos (Featured Columnist) on April 19, 2012 When it comes to college football stadiums, for […]
The Cato Institute’s Roger Pilon, Ilya Shapiro, Michael F. Cannon, Michael D. Tanner and Trevor Burrus evaluate today’s ruling on ObamaCare at the Supreme Court.
Video produced by Caleb O. Brown and Austin Bragg.
____________
President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
When I think about how Obamacare would work it turns my attention to how our federal government has run other things so far. When I think of an inner city youth and the opportunities he or her has at our fine public schools today it makes me proud of how our federal government has made such a great educational experience possible for this younger generation. (I guess you have picked up on how I am being very silly and trying to make you laugh.)
The sad truth is that a private voucher program would bring in competition and generate these results but the federal government would rather that does not happen because they want to keep their hand in everything.
We got to get a voucher system in place so inner city youth can have the educational opportunities they deserve.
Thanks to today’s Supreme Court ruling, the federal government has gained broad new powers to control the nation’s health care system. This, we are told by the President and his fellow travelers, will save money, expand access, and improve quality. One way to gauge the chances of that is to see what benefits federal oversight has brought to education in the one district in the nation over which Congress has ultimate authority: the District of Columbia public schools.
As I wrote earlier this week, the Census Bureau has now confirmed my finding that DC public schools spend about $30,000 / pupil annually. That is more than double the national average of public schools. Access to schooling may be universal in the District, but access to a quality education is not. As Economist Mark Perry writes, despite its stratospheric spending, DC’s graduation rate of 58.6% is far lower than the national average of 75.5%. The academic performance of its students is also significantly below the national average, and also below the average for other big city districts–in both reading and mathematics. Its achievement gaps by race and socio-economic status are also larger than in other public school districts.
That is how the only public school district in the nation under the control of Congress performs. Nor have nationwide federal education programs shown promise, as the chart below illustrates.
If our experience with education is any guide, a bigger federal role in health care does not bode well.
Max Brantley of the Arkansas Times Blog reports today that Mitt Romney is for school vouchers. I am glad to hear that. Over and over we hear that the reason private schools are better is because they don’t have to keep the troubling making kids. It reminds me of this short film that I saw many […]
Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.
Sincerely,
Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com
John Brummett (10-26-11, Arkansas Democrat-Gazette online edition) does not want charter schools to put public schools out of business but he wants them to show public schools how to do it. (Paywall) I seek in these matters a kind of Clintonian third-way finesse: I support charter schools only to the extent that they should be […]
Introducing the ‘Obama Rule’ Posted by Neal McCluskey In his latest weekly radio address, President Obama featured what will no doubt be a mainstay of his reelection campaign: the “Buffett Rule,” which says that rich people should pay at least the same tax rate as middle-class folks. It’s named after mega-investor Warren Buffett, who famously declared […]
Everywhere school vouchers have been tried they have been met with great success. Why do you think President Obama got rid of them in Washington D.C.? It was a political disaster for him because the school unions had always opposed them and their success made Obama’s allies look bad. In 1980 when I first sat […]
What is School Choice? Uploaded by HeritageFoundation on Aug 2, 2011 School choice offers families the opportunity to select schools that meet their child’s needs. Watch the video from Heritage Foundation explaining school choice, how it benefits parents and children and why school choice is needed.
Why have blacks that live in bad areas been condemned to inferior schools? A young lady floated an idea out there and was severly punished for her thoughts: Girl Likens Public School Failure to Ban on Teaching Slaves to Read Posted by Andrew J. Coulson A 13-year-old black girl from Rochester likens the pedagogical […]
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 6 of 6. Volume 6 – What’s Wrong with our Schools Transcript: FRIEDMAN: But I personally think it’s a good thing. But I don’t see that any reason whatsoever why I shouldn’t have been required […]
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 5 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Are your voucher schools going to accept these tough children? COONS: You bet they are. (Several talking at once.) COONS: May I answer […]
Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 4 of 6. Volume 6 – What’s Wrong with our Schools Transcript: It seems to me that if one is truly interested in liberty, which I think is the ultimate value that Milton Friedman talks […]
Friedman Friday” Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 3 of 6. Volume 6 – What’s Wrong with our Schools Transcript: If it […]
President Bush spoke about the life and career of Milton Friedman at a ceremony honoring him for his work and impact in the field of economics. Friedman was awarded a Nobel Prize in 1976
Milton Friedman, recipient of the 1976 Nobel Prize for Economic Science, was a Senior Research Fellow at the Hoover Institution, Stanford University, from 1977 to 2006. He was also Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago, where he taught from 1946 to 1976, and was a member of the research staff of the National Bureau of Economic Research from 1937 to 1981.
Professor Friedman was awarded the Presidential Medal of Freedom in 1988 and received the National Medal of Science the same year. He is widely regarded as the leader of the Chicago School of monetary economics, which stresses the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation.
In addition to his scientific work, Professor Friedman had also written extensively on public policy, always with primary emphasis on the preservation and extension of individual freedom. His most important books in this field are (with Rose D. Friedman) Capitalism and Freedom (University of Chicago Press, 1962); Bright Promises, Dismal Performance (Thomas Horton and Daughters, 1983), which consists mostly of reprints of tri-weekly columns that he wrote for Newsweek from 1966 to 1983; and (with Rose Friedman) Free to Choose (Harcourt Brace Jovanovich, 1980), which complements a ten-part TV series of the same name, shown over PBS in early 1980, and (with Rose D. Friedman) Tyranny of the Status Quo (Harcourt Brace Jovanovich, 1984), which complements a three-part TV series of the same name, shown over PBS in early 1984.
He was a member of the President’s Commission on an All-Volunteer Armed Force (1969-70) and of the President’s Commission on White House Fellows (1971-73). He was a member of President Reagan’s Economic Policy Advisory Board, a group of experts outside the government, named in early 1981 by President Reagan.
He had also been active in public affairs, serving as an informal economic adviser to Senator Goldwater in his unsuccessful campaign for the presidency in 1964, to Richard Nixon in his successful campaign in 1968, to President Nixon subsequently, and to Ronald Reagan in his 1980 campaign.
Cato President Ed Crane and Milton Friedman at the
2004 Milton Friedman Prize for Advancing Liberty
He had published many books and articles, most notably A Theory of the Consumption Function (University of Chicago Press, 1957), The Optimum Quantity of Money and Other Essays (Aldine, 1969), and (with A. J. Schwartz) A Monetary History of the United States (Princeton University Press, 1963), Monetary Statistics of the United States (Columbia University Press, 1970), and Monetary Trends in the United States and the United Kingdom (University of Chicago Press, 1982).
Professor Friedman was a past president of the American Economic Association, the Western Economic Association, and the Mont Pelerin Society, and is a member of the American Philosophical Society and of the National Academy of Sciences.
He also had been awarded honorary degrees by universities in the United States, Japan, Israel, and Guatemala, as well as the Grand Cordon of the First Class Order of the Sacred Treasure by the Japanese government in 1986.
Friedman received a B.A. in 1932 from Rutgers University, an M.A. in 1933 from the University of Chicago, and a Ph.D. in 1946 from Columbia University.
He and his wife established the Milton and Rose D. Friedman Foundation, for the purpose of promoting parental choice of the schools their children attend. The Foundation is based in Indianapolis and its president and chief operating officer is Gordon St Angelo.
He and his wife published their memoirs: Milton and Rose D. Friedman, Two Lucky People: Memoirs (University of Chicago Press, 1998).
On November 16, 2006, Dr. Friedman passed away at the age of 94 in San Francisco.
Member, Mont Pelerin Society (American Secretary, 1957-62; Member of Council, 1962-65; Vice President, 1967-70; President, 1970-72; Vice President, 1972-80)
Member, The Philadelphia Society (Board of Trustees, 1965-67, 1970-72, 1976-78)
Member, Royal Economic Society
Member, Western Economic Association (Vice President, 1982-83; President-elect, 1983-84; President, 1984-85)
Elected Societies
Fellow, American Statistical Association
Fellow, Econometric Society (Board of Editors, Econometrica, 1957-69)
Fellow, Institute of Mathematical Statistics
Member, American Philosophical Society, 1957-
Associate Member, Belgian Royal Academy of Science, Letters and Fine Arts, 1971-
Member, National Academy of Sciences, 1973-
Foreign Member, Accademia Nazionale dei Lincei (Italy), 1978-
Fellow, Jewish Academy of Arts and Sciences, 1986-
Fellow, National Association of Business Economists, 1989-
Active Member, Academia Scientiarum et Artium Europaea (European Academy of Sciences and Arts), 1992-
Other Activities
Council of Academic Advisers, American Enterprise Institute, 1956-79
Member, Board of Directors, Aldine Publishing Company, 1961-76
Policy-holder Elected Trustee, CREF, 1964-68
Advisory Board, Journal of Money, Credit, and Banking, 1968-94
Member, The President’s Commission on an All-Volunteer Armed Force, 1969-70
Member, The President’s Commission on White House Fellows, 1971-73
Member, Advisory Committee on Monetary Statistics, Federal Reserve System 1974
Member, The President’s Economic Policy Advisory Board, 1981-88
Honorary Adviser, Institute for Monetary and Economic Studies of the Bank of Japan, October 1982-86
Presenter of a ten-part TV series on PBS called “Free to Choose,” January-March 1980. The same series in shortened form (six parts) was also aired on BBC in England, February-March 1980. “Free to Choose” was also shown in other countries, including Australia, Holland, Japan, and Singapore. An updated tenth anniversary edition of “Free to Choose,” consisting of five parts, was aired on CNBC early in 1991.
Presenter of three one-half hour TV programs called “Tyranny of the Status Quo” on PBS in March and April 1984
Founding Member, National Coalition for Drug Policy Change, 1993
Chairman, Board of Directors, Milton and Rose D. Friedman Foundation, 1996-2006. (The mission of the foundation is to promote public understanding of the need for major reform in K-12 education and the role that competition through educational choice can play in achieving that reform.
Awards and Honors
John Bates Clark medallist (American Economic Association), 1951
Chicagoan of the Year (Chicago Press Club), 1972
Educator of the Year (Chicago Jewish United Fund), 1973
Nobel Prize for Economic Science, 1976
Scopus Award (American Friends of The Hebrew University), 1977
Private Enterprise Exemplar Medal (Freedoms Foundation at Valley Forge), 1978
Valley Forge Honor Certificate for speech on “The Future of Capitalism” (Freedoms Foundation at Valley Forge), 1978
George Washington Honor Medal (Freedoms Foundation at Valley Forge), 1978 and 1980
Gold Medal (National Institute of Social Sciences, New York), 1978
Statesman of the Year Award (Sales & Marketing Executives International), 1981
Ohio State Award for “Free to Choose” TV Series, 1981
New Perspectives Award for “Free to Choose” TV Series (Touche Ross & Co.), 1981
One of the 1980 Tuck Media Awards for Economic Understanding, for “Free to Choose” TV Series (Amos Tuck School of Business Administration, Dartmouth College), awarded in 1981
Grand Cordon of the First Class Order of the Sacred Treasure (Japanese Government), 1986
National Medal of Science, 1988
Presidential Medal of Freedom, 1988
Institution of World Capitalism Prize (Jacksonville University), 1993
Goldwater Award (Goldwater Institute), 1997
Robert Maynard Hutchins History Maker Award for Distinction in Education (Chicago Historical Society), 1997
Source Award for Lifetime Achievement (The Primary Source, Tufts University), 1997
I have been writing President Obama letters and have not received a personal response yet. (He reads 10 letters a day personally and responds to each of them.) However, I did receive a form letter in the form of an email on July 16, 2012. I don’t know which letter of mine generated this response so I have linked several of the letters I sent to him below with the email that I received. However, I think it was probably this one below:
In the debate of job creation and how best to pursue it as a policy goal, one point is forgotten: Government doesn’t create jobs. Government only diverts resources from one use to another, which doesn’t create new employment.
Video produced by Caleb Brown and Austin Bragg.
___________________________
President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
I don’t understand why people think that big government is the answer for everything when what the federal government should do is get out of the way. Cutting taxes and regulations would help us get out of the recession!!
The Minneapolis Federal Reserve Bank has a very useful interactive website that allows anybody to compare recessions and recoveries during the post-World War II era. It takes only a couple of clicks to complete the exercise, and does not reflect well on the current occupant of the White House—as you can see at this link.
This does not mean that Obama caused the economic downturn. That was the result of policies that were implemented during the Bush years (though the current president was a big supporter of the Fannie Mae and Freddie Mac subsidies that played such a big role in the financial crisis). Indeed, the recession officially began in December 2007, more than one year before Obama’s inauguration.
Taking money out of the economy’s productive sector and letting politicians engage in a spending spree is the opposite of prudent policy.
But we can hold the president at least partially responsible for an extraordinarily weak and slow recovery. It’s been nearly three years since the recession officially ended in June 2009, yet jobs are still well below their pre-recession levels. And overall economic output, or gross domestic product, has just now finally gotten back to where it was when the downturn began.
This is an anemic record. Especially since an economy normally enjoys a strong bounce when coming out of a deep recession.
Daniel J. Mitchell is a top expert on tax reform and supply-side tax policy at the Cato Institute.
The problem is that Obama has tried all the wrong policies. He tried a big-spending Keynesian package that was supposed to be a “stimulus,” butthat’s the same failed approach that Bush tried in 2008, the same failed approach that Japan tried in the 1990s, and the same failed approach that Hoover and Roosevelt tried in the 1930s. Taking money out of the economy’s productive sector and letting politicians engage in a spending spree is the opposite of prudent policy.
The president also has continuously expanded subsidies for unemployment, even though academic scholars (and even left-wing economists) all agree that such policies cause more joblessness.
And now he’s demanding higher tax rates, holding a Sword of Damocles over entrepreneurs, investors, and small business owners.
The nation recently endured eight years of a big-spending interventionist in the White House. The problem with Obama is that he promised hope and change, but he’s continuing the failed statist policies of his predecessor.
Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.
Sincerely,
Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com
July 16, 2012
Dear Everette:
Thank you for writing. I have heard from men and women across our country about America’s small businesses, and I am committed to creating an environment where these engines of job creation can grow and prosper.
When credit markets froze before I took office in 2008, small businesses felt the combined effects of diminished access to capital and falling sales. Over the past few years, we have seen extremely difficult conditions for small businesses and the American families that depend on them.
Providing small businesses with the capital they need to grow remains a priority for keeping our recovery on track, as small businesses create two-thirds of new private sector jobs in the United States. In September of 2010, I signed into law the Small Business Jobs Act—the most significant small business legislation in over a decade. Through new programs like the Small Business Lending Fund and the State Small Business Credit Initiative, we are working with community banks and state capital support programs to help better serve small businesses. In 2011, loans supported by the Small Business Administration (SBA) hit an all-time high of $30 billion, largely due to loan enhancements enacted through the Small Business Jobs Act. And we have expanded support for Community Development Financial Institutions and micro-lending programs.
The Affordable Care Act also plays an important role in supporting small business owners and employees. It makes small businesses with fewer than 25 employees eligible for tax credits up to 35 percent of their premium contributions for employee coverage. Now, they no longer have to choose between hiring and health care. In 2014, the credit will increase to up to 50 percent. Also in 2014, small businesses with up to 100 employees will have access to state-based Small Business Health Options Program Exchanges where they can purchase affordable, quality insurance, giving them the same purchasing power as large companies.
In January 2012, on the one-year anniversary of both the White House Startup America Initiative and the private-sector Startup America Partnership, I sent a Startup America Legislative Agenda to Congress. The Agenda will expand tax relief and unlock capital for startups and small businesses that are creating jobs. It will also institute visa reforms that remove undue obstacles for high-skilled immigrants and recent graduates that contribute to our economic competitiveness. To learn more, I encourage you to visit www.WhiteHouse.gov/economy/business/startup-america.
Additionally, I have asked Congress to reinstate the authority that past presidents have had to streamline the Executive Branch and create a leaner, more efficient Federal Government. Instead of forcing small businesses to navigate the six departments and agencies that focus on business and trade, I am proposing one department, with one website, one phone number, and one mission: helping American businesses succeed. With this authority, we could help small businesses grow, save businesses time, and save taxpayer dollars. In the meantime, I have elevated the SBA to a Cabinet-level agency and announced a new website called BusinessUSA—a platform that consolidates information and services from across the government into a single, integrated network for American business owners and entrepreneurs. To learn more, please visit www.BusinessUSA.gov.
I have also called on Congress to pass more tax cuts—in addition to the 17 small business tax cuts I have already signed into law—that put money back in the hands of working families and provide a boost to goods and services purchased from small businesses. But I will not wait for Congress to act to help out small employers. The SBA is moving forward with a $1 billion Early Stage Innovation Fund targeting early-stage small businesses seeking capital. Moreover, the SBA is working closely with the private sector on the Supplier Connection initiative, which links small businesses with commercial supply chain opportunities—15 companies with $300 billion in purchasing power have already committed.
To ensure our economy is built to last while upholding our commitment to our Nation’s heroes, I have expanded entrepreneurship training opportunities for service members and veterans who want to start businesses. In August 2011, my Administration established a 2-day course in entrepreneurship, and the SBA also offers an 8-week online training program that teaches the fundamentals of small business ownership to more than 10,000 veterans every year.
I will continue to do everything in my power to ensure America remains the best place on earth to turn a great idea into a successful business. I encourage you to take advantage of the on-the-ground counseling resources available through SBA District Offices, a local Small Business Development Center, or Women’s Business Center. We have provided funding for those organizations to help businesses connect with the resources they need. You can also learn more about assistance available in your area or securing Government loans or grants by calling the SBA at 1-800-827-5722, or by visiting www.SBA.gov.
Obama on Ryan Plan: “It’s Laughable. It Is a Trojan Horse. It’s Thinly-Veiled Social Darwinism.” President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you […]
President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here. Class warfare […]
President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here. I personally […]
President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here. I see […]
I have been writing President Obama letters and have not received a personal response yet. (He reads 10 letters a day personally and responds to each of them.) However, I did receive a form letter in the form of an email July 6, 2012. I don’t know which letter of mine generated this response, but if I had […]
John Stossel report “Myth: Gun Control Reduces Crime President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on […]
Government Spending Doesn’t Create Jobs Uploaded by catoinstitutevideo on Sep 7, 2011 Share this on Facebook: http://on.fb.me/qnjkn9 Tweet it: http://tiny.cc/o9v9t In the debate of job creation and how best to pursue it as a policy goal, one point is forgotten: Government doesn’t create jobs. Government only diverts resources from one use to another, which doesn’t […]
Dear Senator Pryor, Why not pass the Balanced Budget amendment? As you know that federal deficit is at all time high (1.6 trillion deficit with revenues of 2.2 trillion and spending at 3.8 trillion). On my blog http://www.HaltingArkansasLiberalswithTruth.com I took you at your word and sent you over 100 emails with specific spending cut ideas. However, […]
The Flat Tax: How it Works and Why it is Good for America Uploaded by afq2007 on Mar 29, 2010 This Center for Freedom and Prosperity Foundation video shows how the flat tax would benefit families and businesses, and also explains how this simple and fair system would boost economic growth and eliminate the special-interest […]
Keynesian Catastrophe: Big Money, Big Government & Big Lies Uploaded by Pajamasmedia on Jan 19, 2012 The Cato Institute’s Dan Mitchell explains why Obama’s stimulus was a flop! With Glenn Reynolds. See more at http://www.pjtv.com and http://www.cato.org ___________________ President Obama c/o The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear Mr. President, I […]
The on-going debate over raising the debt ceiling has focused on many areas of disagreement between Democrats and Republicans but none bigger than the Republican determination not to raise taxes. Many pundits credit this to the political power of Grover Norquist and his Americans for Tax Reform who have spent years collecting “No Tax Increase” pledges from Republican candidates. Others attribute Republican intransigence on taxes to a near religious belief in supply side economics, a school of thought founded by economist Arthur Laffer and journalist Jude Wanniski in the late 1970s.
The true seeds of this attitude toward tax increases, in my view, actually go back farther and can be traced to an even nobler pedigree. The real inspiration for this conviction comes from the late Nobel prize-winning economist, Milton Friedman. It is only by understanding Friedman’s reasoning and his values that one can fully understand why Republican refuse to see spending cuts and tax increases as simply two sides of the same budget-balancing coin.
This was not always the Republican, or even the conservative, position. During the 1950s, it was Democrats who advocated tax cuts to stimulate the economy and President Eisenhower who insisted “we can never justify going further into debt to give ourselves a tax cut at the expense of our children.”
In 1964, the eventual Republican nominee for president, Senator Barry Goldwater, voted against the so-called Kennedy tax cuts (actually passed after Kennedy’s assassination the previous year) because he was convinced the resulting deficits would be inflationary. Even after losing the presidential election to President Lyndon Johnson in a landslide later that year, Goldwater predicted a Republican comeback, telling U.S. News & World Report that a no-win war in Vietnam and high inflation would prompt a backlash against the Democrats two years later (he was right on both counts).
So if Eisenhower and Goldwater represented Republican orthodoxy in the 1950s and ‘60s, what happened? In large part, it was an intellectual revolution in conservative/libertarian thought prompted by economist Milton Friedman. While Friedman rejected the simplistic Keynesian (and later supply-side) notion that tax cuts automatically stimulate the economy, he believed that higher taxes were bad because they led to more and bigger government, which he was convinced at best led to waste and at worse to greater government control over our economy, our lives and our freedoms.
In 1967, three year’s after the Kennedy tax cuts, the Johnson Administration was already running huge deficits thanks to the a combination of Great Society social programs and the Vietnam War. Writing in his regular Newsweek column on August 7, 1967, Friedman expresseded his concern that this would soon lead to higher taxes, using an analysis that would become familiar to his readers over the years:
“.If we adopt such programs, does not fiscal responsibility at least call for imposing taxes to pay for them? The answer is that postwar experience has demonstrated two things. First, that Congress will spend whatever the tax system will raise—plus a little (and recently, a lot) more. Second, that, surprising as it seems, it has proved difficult to get taxes down once they are raised. The special interests created by government spending have proved more potent than the general interest in tax reduction.
“If taxes are raised in order to keep down the deficit, the result is likely to be a higher norm for government spending. Deficits will again mount and the process will be repeated.”
Sure enough, a year later a 10% income tax surcharge was enacted by Congress to cut the deficit and fight inflation. His prediction having been confirmed, Friedman returned to the subject in another Newsweek column dated July 15, 1968. He now described a familiar pattern of how Democrats used the traditional view of fiscal conservatism to convince Republicans to help pay for the Democrats’ own profligate spending:
“The standard scenario has been that the Democrats—in the name of the New Deal, the Fair Deal, or the Great Society—push through large spending programs . . . generally against the opposition of the Republican leadership. The spending programs not only absorb the increased tax yield generated by the ‘fiscal drag,’ they go farther and produce deficits.
“The Democrats then appeal to the Republicans’ sense of fiscal responsibility to refrain from cutting tax rates or, as in this case, to raise them. The Republicans cooperate, thereby establishing a new higher revenue base for further spending. The Democrats get the ‘credit’ for the spending; the Republicans, the ‘blame’ for the taxes; and you and I pay the bill.”
Fast forward seven years, when Republican President Gerald Ford was proposing a tax cut to stimulate the economy during a brief recession. As an economist who believed monetary, not fiscal, policy was the best way to keep the economy on a stable path to growth, Friedman did not believe the proposed tax cut would have its intended stimulatory effect. He explained why in another Newseek column on July 15, 1975 but went on to say:
“Yet I must confess that I favor tax cuts—not as a cure for recession but for a very different reason. Our basic long-term need is to stop the explosive growth in government spending. I am persuaded that the only effective way to do so is by cutting taxes—at any time for any excuse in any way.
“The reason is that government will spend whatever the tax system raises plus a good deal more—but not an indefinite amount more. The most effective way to force each of us to economize is to reduce our income. The restraint is less rigid on government, but it is there and seems to be the only one we have.
“So hail the tax cut—but let’s do it for the right reason.”
Another six years went by and now it was the newly-elected president, Ronald Reagan, who was proposing a large, multi-year tax cut to get the economy moving. At the time, he was also proposing off-setting spending cuts (which we all know didn’t happen). Friedman wrote yet another Newsweek column dated July 27, 1981, refuting objections to the plan by liberal economists while also discounting many of the claims of supply-siders in the Reagan Administration. Friedman still supported the tax cuts, of course, and explained why liberals were suddenly worried about deficits:
“The analysis so far treats government spending and taxes as if they were two independent entities. They clearly are not. We know full well that Congress will spend every penny—and more—that is yielded by taxes. A cut in taxes will mean a cut in government spending. And there is no other way to get a cut in spending.
“That is the real reason why the big spenders and the big inflationists of the past have suddenly been converted to fiscal conservatism and to preaching the virtues of fighting inflation. They know that a multi-year tax cut will force multi-year spending reductions. They hope that a one-year tax cut will quiet public agitation and allow them to revert next year to their high-spending ways.”
Taken as a whole, these excerpts from columns written for a popular magazine by a Nobel laureate economist between 1967 and 1981—44 to 30 years ago—spell out precisely the philosophy that today motivates many Republicans in and out of Congress to firmly oppose any tax increase as part of a deficit reduction or budget-balancing plan proposed by Democrats.
Like Milton Friedman, they are firmly convinced that any taxes they raise will ultimately result in increased government spending. They believe government spending necessarily translates into more and bigger government. They believe the federal government is already too big, threatening not just the health of the economy but their freedom and way of life as well.
One can argue with Friedman’s assumptions as well as the conclusions he draws from them. But until those on the other side—including the President, Democratic congressional leaders and the media—understand the reasoning and motivations behind the anti-tax sentiments of Republicans from Capitol Hill to the Tea Party activists, it’s hard to imagine anything more than a temporary truce in the battle being waged over the budget.
Milton Friedman videos and transcripts Part 11 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman – White House Tribute (2002) Published on May 31, 2012 by BasicEconomics President Bush spoke about the life and career of Milton Friedman at a ceremony honoring him for his work and impact in the field of economics. Friedman was awarded a Nobel Prize in 1976 ___________ Milton Friedman – Biography From Milton […]
MILTON FRIEDMAN: THE MIND BEHIND THE REPUBLICAN TAX REVOLT Jack Roberts | Jul 22, 2011 | 0 comments The on-going debate over raising the debt ceiling has focused on many areas of disagreement between Democrats and Republicans but none bigger than the Republican determination not to raise taxes. Many pundits credit this to the […]
Milton Friedman videos and transcripts Part 10 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman – Power of Choice (Biography) Part 3 Published on May 21, 2012 by BasicEconomics Tribute to Milton Friedman English Pages, 8. 9. 2008 Dear colleagues, dear friends, (1) It is a great honor for me to be asked to say a few words to this distinguished and very knowledgeable audience about one of our greatest […]
Milton Friedman on the American Economy (6 of 6) Uploaded by donotswallow on Aug 9, 2009 THE OPEN MIND Host: Richard D. Heffner Guest: Milton Friedman Title: A Nobel Laureate on the American Economy VTR: 5/31/77 _____________________________________ Below is a transcipt from a portion of an interview that Milton Friedman gave on 5-31-77: Friedman: […]
Milton Friedman videos and transcripts Part 9 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Below is a discussion from Milton Friedman on Bill Clinton and Ronald Reagan. February 10, 1999 | Recorded on February 10, 1999 audio, video, and blogs » uncommon knowledge PRESIDENTIAL REPORT CARD: Milton Friedman on the State of the Union with guest Milton Friedman Milton Friedman, Senior Research Fellow, Hoover Institution and Nobel Laureate in […]
Biography Part 2 In 1977, when I reached the age of 65, I retired from teaching at the University of Chicago. At the invitation of Glenn Campbell, Director of the Hoover Institution at Stanford University, I shifted my scholarly work to Hoover where I remain a Senior Research Fellow. We moved to San Francisco, purchasing […]
Milton Friedman was a great economist and a great american. A Tribute to Milton Friedman by Mark Skousen on November 28, 2006 Mark Skousen and Milton Friedman at lunch I was at the New Orleans Investment Conference when I learned that free-market economist extraordinaire Milton Friedman, died on November 16. He was a dear friend. […]
For all intents and purposes, Cyprus is now bankrupt, and the only question that remains to be answered is whether it will get handouts from the IMF-ECB-EC troika, handouts from Russia, or both. Here’s some of what has been reported by AP.
Cyprus’ president on Thursday defended his government’s decision to seek financial aid from the island nation’s eurozone partners while at the same time asking for a loan from Russia, insisting that the two are perfectly compatible. …Cyprus, with a population of 862,000 people, last week became the fifth country that uses the euro currency to seek a European bailout… The country is currently in talks with the so-called ‘troika’ — the body made up of officials from the European Commission, the European Central Bank and the International Monetary Fund — on how much bailout money it will need and the conditions that will come attached. Locked out of international markets because of its junk credit rating status, Cyprus is paying its bills thanks to a €2.5 billion ($3.14 billion) Russian loan that it clinched last year. But that money is expected to run out by the end of the year.
So what caused this mess? Is Cyprus merely the helpless and innocent victim of economic turmoil in nearby Greece?
That’s certainly the spin from Cypriot politicians, but the budget data shows that Cyprus is in trouble because of excessive spending. This chart, based on data from the International Monetary Fund, shows that the burden of government spending has jumped by an average of 8.3 percent annually since the mid-1990s.
My Golden Rule of fiscal policy is that government spending should grow slower than economic output. Nations that follow that rule generally enjoy good results, while nations that violate that rule inevitably get in trouble.
Interestingly, if Cypriot politicians had engaged in a very modest amount of spending restraint and limited annual budgetary increases to 3 percent, there would be a giant budget surplus today and the burden of government spending would be down to 21.4 percent of GDP, very close to the levels in the hyper-prosperous jurisdictions of Hong Kong and Singapore.
Actually, that’s not true. If the burden of government spending had grown as 3 percent instead of 8.3 percent, economic growth would have been much stronger, so GDP would have been much larger and the public sector would be an ever smaller share of economic output.
Speaking of GDP, the burden of government spending in Cyprus, measured as a share of GDP, has climbed dramatically since 1995.
A simple way to look at this data is that Cyprus used to have a Swiss-sized government and now it has a Greek-sized government. Government spending is just one of many policies that impact economic performance, but is anyone surprised that this huge increase in the size of the public sector has had a big negative impact on Cyprus?
Interestingly, if government spending had remained at 33.9 percent of GDP in Cyprus, the nation would have a big budget surplus today. Would that have required huge and savage budget cuts? Perhaps in the fantasy world of Paul Krugman, but politicians could have achieved that modest goal if they had simply limited annual spending increases to 6 percent.
But that was too “draconian” for Cypriot politicians, so they increased spending by an average of more than 8 percent each year.
What’s the moral of the story? Simply stated, the fiscal policy variable that matters most is the growth of government. Cyprus got in trouble because the burden of government grew faster than the productive sector of the economy.
Europe’s political elite doubtlessly will push for higher taxes, but that approach – at best – simply masks the symptoms in the short run and usually exacerbates the disease in the long run.
On my blog www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching for Milton Friedman also.
Milton Friedman videos and transcripts Part 3 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman videos and transcripts Part 2 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Milton Friedman videos and transcripts Part 1 On my blog http://www.thedailyhatch.org I have an extensive list of posts that have both videos and transcripts of MiltonFriedman’s interviews and speeches. Here below is just small list of those and more can be accessed by clicking on “Milton Friedman” on the side of this page or searching […]
Uploaded by YAFTV on Aug 19, 2009 Here is the first part of the interview: Written By : John Hawkins Yesterday, I did a twenty minute interview by phone with Milton Friedman. Of course, Mr. Friedman has an INCREDIBLE resume. He won the 1976 Nobel Memorial Prize for economic science, won the “Presidential Medal of […]
Myth:Conservative Herbert Hoover responsible for Depression When I grew up I always heard that the conservative Herbert Hoover was responsible for the depression. Is that true? The Hoover Myth Marches On Posted by David Boaz In the New York Times today, columnist Joseph Nocera quotes a book published in 1940 on Herbert Hoover and the Great Depression: […]
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen worked pretty well for a whole generation. Now anything that works well for a whole generation isn’t entirely bad. From the fact __ from that fact, and the undeniable fact that things […]
Uploaded by YAFTV on Aug 19, 2009 Nobel Laureate Dr. Milton Friedman discusses the principles of Ronald Reagan during this talk for students at Young America’s Foundation’s 25th annual National Conservative Student Conference MILTON FRIEDMAN ON RONALD REAGAN In Friday’s WSJ, Milton Friedman reflectedon Ronald Reagan’s legacy. (The link should work for a few more […]
Milton Friedman – The Social Security Myth Uploaded by LibertyPen on Mar 5, 2010 Using Social Security as his prime example, Professor Friedman explodes the myth that the major expansions in government resulted from popular demand. In a speech delivered more than 30 years ago, he directly relates this dynamic to today’s health care debate. […]
Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 4 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 4 of 6. Volume 6 – What’s Wrong with our Schools Transcript: It seems to me […]
Tax increases are not the way to go, but the president doesn’t get that. Liberals love tax increases. Seven Reasons Why Tax Increases Are the Wrong Approach Uploaded by CFPEcon101 on May 3, 2011 This Economics 101 video from the Center for Freedom and Prosperity gives seven reasons why the political elite are wrong to […]
Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 3 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 3 of 6. Volume 6 – What’s Wrong with our Schools Transcript: If it doesn’t, they […]
Free to Choose by Milton Friedman: Episode “What is wrong with our schools?” (Part 2 of transcript and video) Here is the video clip and transcript of the film series FREE TO CHOOSE episode “What is wrong with our schools?” Part 2 of 6. Volume 6 – What’s Wrong with our Schools Transcript: Groups of concerned parents […]
I am currently going through his film series “Free to Choose” which is one the most powerful film series I have ever seen. PART 5 of 7 MCKENZIE: Ah, well, that’s not on our agenda actually. (Laughter) VOICE OFF SCREEN: Why not? MCKENZIE: I boldly repeat the question, though, the expectation having been __ having […]
Author James Bartholomew argues that welfare benefits actually increase government handouts by ‘ruining’ ambition. He compares welfare to a humane mousetrap.
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In the controversial book The Welfare State We’re In, James Bartholomew argues that the welfare state in Britain has resulted in a generation of badly educated and dependent citizens, leading to lives of deprivation for thousands and undermining the original intent behind its creation in the 1940s.
Has the welfare state really led to more harm than good? What does this imply for the ever-expanding welfare state in the United States? – Cato Institute
James Bartholomew trained as a banker in the City of London before moving into journalism with the Financial Times and the Far Eastern Economic Review, for whom he worked in Hong Kong and Tokyo. Returning to England on the Trans-Siberian Railway through communist China and the Soviet Union an experience which influenced his political outlook he subsequently became a leader writer on The Daily Telegraph and the Daily Mail.
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Productivity should be rewarded and those who do not wish to work should not be rewarded like those who are working.
Now we have a nursery rhyme about the little red hen. But not the old-fashioned version. Here’s the modernized version the President reads to his kids.
“Who will help me plant my wheat?” asked the little red hen.
“Not I,” said the cow.
“Not I,” said the duck.
“Not I,” said the pig.
“Not I,” said the goose.
“Then I will do it by myself.” She planted her crop and the wheat grew and ripened.
“Who will help me reap my wheat?” asked the little red hen.
“I’m on disability,” said the duck.
“Out of my classification,” said the pig.
“I’d lose my seniority,” said the cow.
“I’d lose my unemployment compensation,” said the goose.
“Then I will do it by myself,” said the little red hen, and so she did.
“Who will help me bake the bread?” asked the little red hen.
“That would be overtime for me,” said the cow.
“I’d lose my welfare benefits,” said the duck.
“I’m a dropout and never learned how,” said the pig.
“If I’m to be the only helper, that’s discrimination,” said the goose.
“Then I will do it by myself,” said the little red hen, and so she did.
The smell of fresh-baked bread attracted all her neighbors. They saw the bread and wanted some. In fact, they demanded a share.
But the little red hen said, “No, I shall eat all the loaves.”
“Excess profits!” cried the cow.
“Capitalist leech!” screamed the duck.
“I demand equal rights!” yelled the goose.
“Share with the 99 percent,” grunted the pig.
And they all painted ‘Unfair!’ picket signs and marched around and around the little red hen, shouting obscenities.
Then the farmer came He said to the little red hen, “You must not be so greedy.”
“But I earned the bread,” said the little red hen.
“Exactly,” said the farmer. “That is what makes our free enterprise system so wonderful. Anyone in the barnyard can earn as much as he wants. But under our modern government regulations, the productive workers must divide the fruits of their labor with those who are idle.”
But only in the President’s fairy tale. In a real-world version, the little red hen never again baked bread and the farmyard suffered Greek-style chaos when the animals riding in the wagon suddenly discovered there was nobody left to pull the wagon.
(1) It is a great honor for me to be asked to say a few words to this distinguished and very knowledgeable audience about one of our greatest heroes, about one of the past Mont Pelerin Society presidents, about a friend of many of us, Milton Friedman. This is the first MPS General Meeting after his passing away in December 2006 and it is our duty to remember him here today and to say very clearly, loudly and explicitly how much we all owe him.
I am not sure I deserve to be privileged to speak on this very special occasion. Even though I met Milton many times in many places of the world in the past 19 years, I was not his long time colleague, collaborator or a close personal friend. I was probably chosen to speak here on behalf of his admirers and pupils. I am proud to declare that I am one of them.
My first opportunity to see him and exchange a few words with him was during the Munich meeting of our Society in 1990. For most of my life, which was spent in the communist era, I was just able to read about him and – what was much more important – to read him. Very early, he became one of my most important teachers – of course, at a distance. I considered and I do consider him, and I suppose most of you share my view, to be one of the greatest thinkers of the 20th century.
As I said, I succeeded in meeting him personally for the first time after the collapse of communism, after the fall of the Iron Curtain, after those historic events he – directly or indirectly – but very substantially influenced. For us, who lived in the communist world, Milton was the greatest champion of freedom, of limited and unobtrusive government and of free markets. (2)
He was for many reasons important for the people in the West, North and South, but he was crucial for us in the East. We studied him very carefully. It was, of course, difficult to get his „Capitalism and Freedom“. It was not easy to see his Newsweek columns, but it was possible to get The Journal of Political Economy, The American Economic Review or the Journal of Money, Credit and Banking in the public library even in the darkest communist days. Some of us read such journals and some of us even understood that his contributions were more important than the writings of most of other economists. (3)
He was – without a doubt – one of the most influential academic economists of the second half of the 20th century. We certainly do not plan to analyze his achievements in economic theory here today but we should at least mention his theoretical works in the fields of the theory of money, of the theory of the consumption function, his arguments for flexible exchange rates and for free trade, his ideas on the methodology of science and his views on economic, especially monetary policy. His more general texts about freedom, about the relationship between the individual and the state, about markets and planning, about alternative economic systems were not less fundamental. The books „Capitalism and Freedom“ and „Free to Choose“ influenced millions of people all over the world.
We all admired him for the clarity of his thinking as well as for his intellectual stubbornness and – at the same time – for his personal kindness and charm. Nothing captures or summarizes his life better than the title of the book he wrote together with Rose: „Two Lucky People“. From what I know, I can confirm that they were lucky, that they were lucky together and I would add that we were lucky to have had Milton Friedman. Some of us were even privileged to know him personally, to play tennis with him or skiing together in Whistler mountains. We are really missing him. We all owe a lasting debt to him.
The Daily Hatch 