Tag Archives: senator barry goldwater

John Hawkins interview with Milton Friedman (Part 1) “Friedman Friday”

Uploaded by 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 Freedom in 1988 and received the National Medal of Science the same year”.

He was also an “economic adviser to Senator Barry Goldwater in his unsuccessful campaign for the presidency in 1964, to Richard Nixon in his successful 1968 campaign, to President Nixon subsequently, and to Ronald Reagan in his 1980 campaign.”

There is much, much, more I could add. But I think the fact that Mr. Friedman finished in a tie for the 15 slot when RWN had conservative bloggers select, “The Greatest Figures Of The 20th Centurygives you some idea of Mr. Friedman’s stature.

Enjoy the interview!

John Hawkins: Slate’s Chris Suellentrop has pointed out that Howard Dean has said “that he would demand that other countries adopt the exact same labor, environmental, health, and safety standards as the United States” if they wanted trade agreements with us (Dean said something similar to the WAPO). If that policy were ever implemented, what sort of damage do you think it would cause to the US economy?

Milton Friedman:I think it would cause immense damage, not to the US economy, but to other economies around the world — much more to the others than to us.

John Hawkins:Really? So you don’t really think it would hurt the US economy that much?

Milton Friedman:It would hurt the US economy, but it would be disastrous for the countries that are smaller than we are. World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth.

From my point of view, we in the United States have gone overboard in respect to the extent of regulation and detailed control of labor standards, industry, and the like. It’s bad for us, but fortunately we had two hundred years of relatively free development to provide a strong basis to sustain the cost. But to impose this on other countries that are not at that stage would be a disgraceful thing to do.

John Hawkins:Because it would keep them from ever getting to the point we’re at?

Milton Friedman:That’s right.

John Hawkins:Do you think George Bush, with the economy being as it was, did the right thing by cutting taxes?

Milton Friedman:I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible. The reason I am is because I believe the big problem is not taxes, the big problem is spending. The question is, “How do you hold down government spending?” Government spending now amounts to close to 40% of national income not counting indirect spending through regulation and the like. If you include that, you get up to roughly half. The real danger we face is that number will creep up and up and up. The only effective way I think to hold it down, is to hold down the amount of income the government has. The way to do that is to cut taxes.

John Hawkins:Now let me ask you about that. In the Reagan years, we cut taxes and it ended up leading to economic growth which increased the amount of revenue that came into the government.

Milton Friedman:Well, economic growth will inevitably increase the amount of revenue coming into the government. But so far as the Reagan years were concerned, we have to be careful there. There were initial cuts in 1981-1982 and then there was a very good income tax law in 1986. But in between that, there were increases in taxes as well. So it’s not an entirely clear picture that you can attribute the growth in revenue entirely to the tax reductions. But it’s a hard thing to disentangle the effects of several things happening at the same time. In particular, there’s no doubt that growth is very favorable to government revenue.

John Hawkins:Well let me ask you a related question about holding down the deficit. Really, I’m not seeing much political will on either side of the aisle to hold down costs. Do you think we should consider a Balanced Budget Amendment?

Milton Friedman:What we should consider and what has been considered is a Tax And Spending Limitation Amendment, an amendment to hold down total spending. I don’t think it needs to be in the form of a Balanced Budget Amendment, but that’s one form it can take.

John Hawkins:So would you favor for example a 3/5th’s majority to raise taxes like they suggested in the “Contract with America”?

Milton Friedman:Yes, but the example that comes to mind really is the Colorado Tax And Expenditure Limitation Amendment that requires the spending to increase no more from year to year than population and inflation. Also, it requires that any revenues in excess of spending have to be returned to the taxpayers.

John Hawkins:Let me ask you about this — what do you say to people who claim that free trade will eventually lead to high unemployment in the US as large numbers of jobs move to cheaper labor markets overseas?

Milton Friedman:Well, they only consider half of the problem. If you move jobs overseas, it creates incomes and dollars overseas. What do they do with that dollar income? Sooner or later it will be used to purchase US goods and that produces jobs in the United States.

In fact, all of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.

When the United States was formed in 1776, it took 19 people on the farm to produce enough food for 20 people. So most of the people had to spend their time and efforts on growing food. Today, it’s down to 1% or 2% to produce that food. Now just consider the vast amount of supposed unemployment that was produced by that. But there wasn’t really any unemployment produced. What happened was that people who had formerly been tied up working in agriculture were freed by technological developments and improvements to do something else. That enabled us to have a better standard of living and a more extensive range of products.

The same thing is happening around the world. China has been growing very rapidly in recent years. That’s because they shifted from a very inefficient method of agricultural production to something that comes close to the equivalent of private ownership of the land and agriculture. As a result, they’ve been able to produce a lot more with many fewer workers and that has released workers who have come into the cities and have been able to work in industry and other areas and China has been having a very rapid increase in income.

Related posts:

Myth:Conservative Herbert Hoover responsible for Depression?

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: […]

Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 6 of 7)

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 […]

Milton Friedman discusses Reagan and Reagan discusses Friedman

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 […]

Social Security is a Ponzi scheme (Part 10)

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)

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

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)

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 […]

 

Veterans Day 2011 Part 7:You have heard of Jimmy Doolittle, but what about Leon A. McDaniel?

https://i2.wp.com/www.reagan.utexas.edu/archives/photographs/large/c29738-13.jpg

President Reagan and Senator Barry Goldwater present the fourth star to General Jimmy Doolittle during a White House ceremony in the Indian Treaty room, OEOB. 6/20/85.

I love the movie “Pearl Harbor” with Ben Affleck and it tells the story of Jimmy Doolittle.  He was born in 1896 and died in 1993. He is pictured above with Ronald Reagan.  He enlisted in the army in World War I and became an aviator. After the war he earned a Ph.D. in engineering and remained in the Army Air Corps as a test pilot until 1930, when he became head of aviation for Shell Oil Co. In 1932 he set a world air speed record. Returning to active duty during World War II, he led a daring raid on Tokyo (1942), for which he received the Congressional Medal of Honor. He commanded air operations on many fronts, including attacks on Germany in 1944 – 45. After the war he remained active in the aerospace industry. He received the Presidential Medal of Freedom in 1989.

Here is a clip from the movie “Pearl Harbor” about Doolittle.

WWII Battle of Leyte Gulf

This was published earlier in the Saline Courier.

(I have known McDaniel’s daughter, Linda Matyskiela and her husband, Terry, for 10 years as the owners of Bobby’s Country Cookin’ in Little Rock. Here is a story about Linda’s father Leon McDaniel. Both Leon and his wife Joyce recently passed away, but were able to read and enjoy this article when it was published two years ago.)

A little after noon, Japanese standard time on Aug. 15, 1945, Emperor Hirohito’s announcement of Japan’s surrender was broadcast over the radio in Japan. Some Japanese soldiers, crushed by the surrender, committed suicide, and well over 100 American prisoners of war were also executed by the Imperial Japanese Army. Nevertheless, the USA had arrived at Victory over Japan Day, or VJ Day.
Getting to this day did not come easy for the United States. Major sacrifices had to be made by our soldiers, and many of them were from Arkansas.
I wanted to recognize the service of just a fraction of the dedicated soldiers that have served in the U.S. Armed Forces.
Today I wanted to start with Leon A. McDaniel.
Currently McDaniel, 84, lives in Mount Ida with wife Joyce of 64 years, but he was born and raised in Nimrod in Perry County.
McDaniel joined the Navy at age 17 and served from October 1943 until August 1946. He was based in San Francisco and served 23 months on the USS George Clymer APA 27. The USS George Clymer was a Marine and Army transport ship and was involved also in the Korean and Vietnam Wars.
After boot camp, McDaniel was trained to be the coxswain of the landing crafts. The coxswain is the person in charge of the steering of a boat.McDaniel drove both the larger crafts that landed the tanks on the beaches and the smaller crafts that landed the troops on the beaches. McDaniel said he transported many Japanese POWs to ships that took the Japanese to POW camps.

Guam
The Second Battle of Guam was from July 21 to Aug. 8, 1944, and resulted in the capture of the Japanese held island of Guam. The battle started with the Americans numbering 36,000 and the Japanese 22,000. It ended with 1,747 Americans killed and over 18,000 Japanese killed. There were 485  Japanese POWs taken captive.
When the USS George Clymer was anchored off Guam from July 21 to Aug. 21, every other day at dusk Leon McDaniel would be responsible for driving the landing craft around the ship that carried the commanders of the task force. His all-night duty would end at dawn. It was his duty to make sure Japanese divers or torpedo boats did not surprise-attack the ship.

Leyte
The Battle of Leyte Gulf was fought from Oct. 23 to 26, 1944,  in waters near the Philippine islands of Leyte, Samar, and Luzon. It was and still is the largest naval battle of all time.
The Imperial Japanese Navy brought together almost all of its remaining major naval vessels in an effort to keep the Americans from cutting off their supply lines to their fuel reserves.
After their defeat at Leyte, the Japanese had to keep the majority of their surviving large ships at their bases because they did not have enough fuel to operate them. This remained the case for the rest of the Pacific War. Another interesting fact is that the Battle of Leyte Gulf is the first battle in which kamikaze attacks occurred.
McDaniel remembers that the morning of the invasion of Leyte, 16-inch shells from battle ships and bombs from airplanes hit the invasion site every three seconds for approximately two hours. During the bombardment, McDaniel drove his landing craft along with hundreds of others, carrying tanks and troops and rendezvoused away from the ships until the shelling stopped. They were ordered then to land troops and tanks.
On the first night in Leyte, the USS George Clymer was anchored off the beachhead of Leyte. McDaniel and others had to stay in their landing crafts tied to their ships. The air raid warning was sounded. A smoke screen was laid out all over the convoy of several hundred ships. This was done to keep Japanese bombers from seeing the ships. The difficulty of breathing and seeing your hand in front of your face was described as very trying and difficult by McDaniel.
The second night of the smokescreen, several landing craft were untied from their ships to find the outer edges of the screen. But instead of finding the outer edge, they became lost in the screen, and McDaniel did not know whether they were close to their own ships or close to the Japanese beach somewhere. When the screen lifted they were able to relocate their ship and eased back in without anyone realizing they were gone. McDaniel said it felt like being back at home once they were reunited with their ship.
During the three days in Leyte, there was a constant bombardment of the Island. The third night, as the ships were being escorted out, the sound of bombs, shells, planes, thunder and lightening echoed through the air as they left.
Japan had lost more than 10,000 men while the United States lost nearly 2,000.

(Next post we will look at some more war stories from Mr. McDaniel.)

Battle of Leyte Gulf part 2

Battle of Leyte Gulf part 3

Related posts:

Veterans Day 2011 Part 7:You have heard of Jimmy Doolittle, but what about Leon A. McDaniel?

President Reagan and Senator Barry Goldwater present the fourth star to General Jimmy Doolittle during a White House ceremony in the Indian Treaty room, OEOB. 6/20/85. I love the movie “Pearl Harbor” with Ben Affleck and it tells the story of Jimmy Doolittle.  He was born in 1896 and died in 1993. He is pictured […]

Veterans Day 2011 Part 6 (A look back at Okinawa)

This portion below appeared in an article I did for the Saline Courier about 18 months ago: I went to the First Baptist Church in Little Rock from 1983 to 1997, and during that time I became friends with Walter Dickinson Sr. In fact, we used to attend a weekly luncheon together on Thursdays.  Just […]

Veterans Day 2011 Part 5 (A look back at the “Battle of the Bulge”)

The Lost Evidence: The Battle Of The Bulge (1/5) This article was published in the Saline Courier about 18 months ago: When we celebrate July 4th we are focusing on the freedoms that so many soldiers have fought for over the last 234 years. That focus has been highlighted for me since my son Hunter […]

Veterans Day 2011 Part 4

  This is taken from an article that appeared in the Saline Courier about a year ago: Bravery is not just limited to one generation, but Americans have had it in every generation. It makes me think about those who are currently serving in our military. Jon Chris Roberts who is graduate of Benton High […]

Veterans Day 2011 Part 3 (A look back at World War 1)

I was born in Tennessee and everyone in Tennessee knows the name of Alvin York. Above is a clip about his accomplishments in War World I. Cara Gist of Shannon Hills tells me that her grandfather Herbert S. Apple of Salado, Arkansas (near Batesville) fought in World War I. He served in France and fought […]

Veterans Day 2011 Part 2 (Bataan Death March)

My longtime friend Craig Carney is originally  from Jacksonville, and  he told me a couple of years ago about a friend of his parents from Jacksonville, Arkansas named Silas Legrow. Legrow  was going to speak at the Jacksonville Museum of Military History on April 17, 2008 about his experience in the March of 1942 when […]

Veterans Day 2011 (Black Hawk Down and North Little Rock’s Donavan “Bull” Briley)

The Background Facts of The Black Hawk Down (1/7) Uploaded by WarDocumentary on Feb 14, 2011 The movie Black Hawk Down was based on an actual event that took place in Mogadishu, Somalia. This documentary explains the event. _______________________________ On October 3, 2003 my son  played quarterback at the Arkansas Baptist High School Football game […]

 

John Hawkins interview with Milton Friedman (Part 1)

Uploaded by 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 Freedom in 1988 and received the National Medal of Science the same year”.

He was also an “economic adviser to Senator Barry Goldwater in his unsuccessful campaign for the presidency in 1964, to Richard Nixon in his successful 1968 campaign, to President Nixon subsequently, and to Ronald Reagan in his 1980 campaign.”

There is much, much, more I could add. But I think the fact that Mr. Friedman finished in a tie for the 15 slot when RWN had conservative bloggers select, “The Greatest Figures Of The 20th Centurygives you some idea of Mr. Friedman’s stature.

Enjoy the interview!

John Hawkins: Slate’s Chris Suellentrop has pointed out that Howard Dean has said “that he would demand that other countries adopt the exact same labor, environmental, health, and safety standards as the United States” if they wanted trade agreements with us (Dean said something similar to the WAPO). If that policy were ever implemented, what sort of damage do you think it would cause to the US economy?

Milton Friedman:I think it would cause immense damage, not to the US economy, but to other economies around the world — much more to the others than to us.

John Hawkins:Really? So you don’t really think it would hurt the US economy that much?

Milton Friedman:It would hurt the US economy, but it would be disastrous for the countries that are smaller than we are. World trade depends on differences among countries, not similarities. Different countries are in different stages of development. It is appropriate for them to have different patterns, different policies for ecology, labor standards, and so forth.

From my point of view, we in the United States have gone overboard in respect to the extent of regulation and detailed control of labor standards, industry, and the like. It’s bad for us, but fortunately we had two hundred years of relatively free development to provide a strong basis to sustain the cost. But to impose this on other countries that are not at that stage would be a disgraceful thing to do.

John Hawkins:Because it would keep them from ever getting to the point we’re at?

Milton Friedman:That’s right.

John Hawkins:Do you think George Bush, with the economy being as it was, did the right thing by cutting taxes?

Milton Friedman:I am in favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible. The reason I am is because I believe the big problem is not taxes, the big problem is spending. The question is, “How do you hold down government spending?” Government spending now amounts to close to 40% of national income not counting indirect spending through regulation and the like. If you include that, you get up to roughly half. The real danger we face is that number will creep up and up and up. The only effective way I think to hold it down, is to hold down the amount of income the government has. The way to do that is to cut taxes.

John Hawkins:Now let me ask you about that. In the Reagan years, we cut taxes and it ended up leading to economic growth which increased the amount of revenue that came into the government.

Milton Friedman:Well, economic growth will inevitably increase the amount of revenue coming into the government. But so far as the Reagan years were concerned, we have to be careful there. There were initial cuts in 1981-1982 and then there was a very good income tax law in 1986. But in between that, there were increases in taxes as well. So it’s not an entirely clear picture that you can attribute the growth in revenue entirely to the tax reductions. But it’s a hard thing to disentangle the effects of several things happening at the same time. In particular, there’s no doubt that growth is very favorable to government revenue.

John Hawkins:Well let me ask you a related question about holding down the deficit. Really, I’m not seeing much political will on either side of the aisle to hold down costs. Do you think we should consider a Balanced Budget Amendment?

Milton Friedman:What we should consider and what has been considered is a Tax And Spending Limitation Amendment, an amendment to hold down total spending. I don’t think it needs to be in the form of a Balanced Budget Amendment, but that’s one form it can take.

John Hawkins:So would you favor for example a 3/5th’s majority to raise taxes like they suggested in the “Contract with America”?

Milton Friedman:Yes, but the example that comes to mind really is the Colorado Tax And Expenditure Limitation Amendment that requires the spending to increase no more from year to year than population and inflation. Also, it requires that any revenues in excess of spending have to be returned to the taxpayers.

John Hawkins:Let me ask you about this — what do you say to people who claim that free trade will eventually lead to high unemployment in the US as large numbers of jobs move to cheaper labor markets overseas?

Milton Friedman:Well, they only consider half of the problem. If you move jobs overseas, it creates incomes and dollars overseas. What do they do with that dollar income? Sooner or later it will be used to purchase US goods and that produces jobs in the United States.

In fact, all of the progress that the US has made over the last couple of centuries has come from unemployment. It has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. It has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.

When the United States was formed in 1776, it took 19 people on the farm to produce enough food for 20 people. So most of the people had to spend their time and efforts on growing food. Today, it’s down to 1% or 2% to produce that food. Now just consider the vast amount of supposed unemployment that was produced by that. But there wasn’t really any unemployment produced. What happened was that people who had formerly been tied up working in agriculture were freed by technological developments and improvements to do something else. That enabled us to have a better standard of living and a more extensive range of products.

The same thing is happening around the world. China has been growing very rapidly in recent years. That’s because they shifted from a very inefficient method of agricultural production to something that comes close to the equivalent of private ownership of the land and agriculture. As a result, they’ve been able to produce a lot more with many fewer workers and that has released workers who have come into the cities and have been able to work in industry and other areas and China has been having a very rapid increase in income.

Related posts:

Myth:Conservative Herbert Hoover responsible for Depression?

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: […]

 

Milton Friedman Friday:(“Free to Choose” episode 4 – From Cradle to Grave, Part 6 of 7)

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 […]

 

Milton Friedman discusses Reagan and Reagan discusses Friedman

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 […]

 

Social Security is a Ponzi scheme (Part 10)

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)

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

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)

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 […]