Milton Friedman on the Success of Capitalism vs. the Failure of Socialism.

admin Published On: July 29, 2020

Summary

Milton Friedman discusses why Capitalism and the free-market system has seen repeated success in reducing poverty and creating wealth over and over again. Socialism has failed repeatedly. Centralizing power in the hands of a select few is a bad idea. Yet, we fall for the promises it offers again and again.

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Asking for money is hard. Mandatory taxes on citizens are forced donations to causes that you may or may not believe in. The more you are taxed, the less money in your pocket to donate to causes of YOUR choice. This results in less freedom for you to shape the path of programs that you believe will benefit society. Government may use tax revenue for causes you do believe in, but the vast majority is wasted on programs you do not want, and in many cases, are of greater societal cost rather than benefit to the problem they aim to solve. The more government programs and agencies created, the greater the chance of waste at your expense. We ask, even after your tax burden, please consider supporting a cause you DO believe in. Let us spread freedom together. ~NF

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