Milton Friedman Deconstructs 5 Common Myths

Summary

Milton Friedman deconstructs 5 commonly believed myths regarding the free-market and big government. First, the “robber baron” myth is the belief that in the 19th century in early America, unrestrained capitalists preyed upon and exploited the poor and robbed them of their liberty. The reality is that there is almost none, and you’d be hard pressed to find even one, period of time that saw a greater increase in the well-being of ordinary citizens than the late 19th century. From 1880 to 1920, nearly 20 million immigrants came to our shores. People don’t make such a dangerous and life-changing-journey to be exploited. Maybe some immigrants could have been fooled and tricked into being mistreated, but letters back home and discussions within communities would have spread the bad word. So even if some were fooled, they wouldn’t have continued their journey if exploitation was the norm. People vote with their feet. They will move from areas of restriction and persecution to areas of freedom and opportunity. Cities grew and expanded as people came here seeking a better life.. by the millions. There aren’t people risking their lives to float on a raft into Cuba. There aren’t people carrying all of their possessions on their back with hopes of a better life marching into Venezuela. People don’t march into socialism. They march into freedom. The truth about what works best for humanity has been proven time and time again, that we are well beyond stupidity now. Turn the ship around now. Open your eyes today.