Tuesday, July 31, 2012

On the occasion of the 100th anniversary of his birth, NR pays tribute to the great Milton Friedman

Kevin Williamson explains the genius of Milton Friedman  in his NR piece "An Economics of Love."
Friedman’s libertarianism was based on an economics of love: for real human beings leading real human lives with real human needs and real human challenges. He loved freedom not only because it allowed IBM to pursue maximum profit but because it allowed for human flourishing at all levels. Economic growth is important to everybody, but it is most important to the poor. While Friedman’s contributions to academic economics are well appreciated and his opposition to government shenanigans is celebrated, what is seldom remarked upon is that the constant and eternal theme of his popular work was helping the poor and the marginalized. Friedman cared about the minimum wage not only because it distorted labor markets but because of the effect it has on low-skill workers: permanent unemployment. He called the black unemployment rate a “disgrace and a scandal,” and the unemployment statute the “most anti-black law” on the books with good reason. He talked about two “machines”: “There has never been a more effective machine for the elimination of poverty than the free-enterprise system and a free market.” “We have constructed a governmental welfare scheme which has been a machine for producing poor people. . . . I’m not blaming the people. It’s our fault for constructing so perverse and so ill-shaped a monster.”
More from Friedman's former student, the great Thomas Sowell.

Tuesday, July 17, 2012

A Great Keyboardist Has Died, The Magnificent Jon Lord, RIP

Jon Lord, who made the keyboards sing in Deep Purple had died at the age of 71.

He was one of the best keyboardists in rock and roll putting the organ on par with the guitar. He will be missed.

Wednesday, July 11, 2012

Aphorism for the day

By way of Robert Fripp's Diary for Tuesday, 26th June 2012

"There are few things as convincing as death to remind us of the quality with which we live our life."

Sunday, July 08, 2012

"With 'freedom' in fashion, is libertarianism back?"

Let us hope so! 

"What's that old saying? First they mock you, then they imitate you and then they become you," he said. "And that's how I feel about libertarianism."