RE: Tucker Carlson Fails at Capitalism

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Tucker Carlson Fails at Capitalism

in capitalism •  6 years ago 

I like Carlson too, but I'm on your side, his reasoning seems logical in the short term, but he's not seeing the whole picture, he is making the same mistake as the Socialists. It reminds me of the story of Milton Friedman and the spoons:

While traveling by car during one of his many overseas travels, Professor Milton Friedman spotted scores of road builders moving earth with shovels instead of modern machinery. When he asked why powerful equipment wasn’t used instead of so many laborers, his host told him it was to keep employment high in the construction industry. If they used tractors or modern road building equipment, fewer people would have jobs was his host’s logic.

“Then instead of shovels, why don’t you give them spoons and create even more jobs?” Friedman inquired.

Source

On the regulations to global trade if I think I have some discrepancies, because there is not really a free international market, but on the contrary there is a regulated market composed of several nations, so, I believe that sometimes, protectionism, contradictory that may seem, may be the only way to maintain the free market. If you are interested in this, I wrote a short article about it.

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I almost included this quote in my article. Friedman was absolutely right.