Category Archives: economics

Mornin’ Milton: “Really, Fed? Really?”

A shortie-but-goodie.  I have no idea when this video was made, but it’s never been more relevant than it has today.

Via Common Sense Capitalism


Leave a comment

Filed under economics, politics, who's going to pay for all this

An Open Letter to John Aglialoro

Dear John,

Let me begin by apologizing to you.  I’m sorry I didn’t see Atlas Shrugged when it came to my local theater.


I meant to, of course.  I’m a good libertarian, I promise I am.  I read Lew Rockwell.  I think business owners, not namby-pamby lawmakers, should decide whether people can smoke cigarettes inside their establishments, even though I personally think smoking is disgusting.  The ever-more-omnipresent commingling of government and capitalism makes me feel all icky inside.  I get tired of movies that beat me over the head with messages about how evil capitalism is, but I see them anyway, even though it’s this country’s freedom that drives the money into those capitalist filmmakers’ pockets.

Yet I didn’t see your movie, even though it came to my local theater.  Because the reviews were bad.  The critics hated it.  The populace hated it.  I love Ayn Rand so much, but I couldn’t bring myself to pull the trigger.  And because of me, and other similarly traitorous free market fanatics, your movie didn’t really do all that well.

Tonight I finally got around to watching it.  And now I can safely say that I agree with you.  I think a large part of the slamming is that America hates capitalism.  As for me….

I was enthralled the entire time.  The acting was phenomenal, especially considering that most everyone in the movie was a relative unknown.  (Except my buddy Snyder.)  The cinematography was quite beautiful.  I loved the rich colors (as opposed to the blue-and-orange palette so favored by basically everybody these days).  The mountain scenery was gorgeous.  And seriously, I could gaze at Taylor Schilling’s sweet face all day long.  She was perfect for the role of tough-as-nails Dagny Taggart.

Most importantly, the movie had a message for anyone willing to listen.  My father and I kept remarking on how eerily accurate Rand’s predictions have been even 50 years later.  Skyrocketing gas prices.  The condition of the economy.  The government’s finger in every pie.  Twentieth Century Motors.  I’m only astonished that so many people could watch this movie and fail to recognize the state of this country, in every industry that has fled the country due to our oppressive regulations and suffocating cronyism.

The final scene of Part I was so well-done, I cheered right there in my living room.  So imagine how thrilled I was to hear that you are still planning on making the second installment, despite the mediocre reception of the first one.  I am delighted you believe in this project enough to keep backing it with your hard-earned money.  And I promise that this time, I will be the first in line for a ticket.



Leave a comment

Filed under cool people, economics, history lesson, just for fun, politics

Mornin’ Milton: Back to 1979

Good morning!  Can you imagine the typical university student today in a debate like this?  (Well, I’ll post one of those later.)

“Is there one of you who is going to say that you don’t want a doctor to treat you for cancer unless he himself has had cancer?”

For all this talk of America’s failures, what Mr. Friedman says at the end here is right on the money.  We are still a relatively wealthy nation.  I don’t understand how so many people around me can continually scream about the failures of the free market while our country is barreling down the same road that Europe was not so long ago.  We are on the fast track to Greecedom.

If free-market capitalism is not the perfect solution, it’s only because there is no perfect solution.  The capitalism we have now is not true free-market capitalism.  If certain private businesses receive favorable treatment or bailouts from the government, the blame rests squarely on that government’s shoulders.  There’s a lot we can fix here, but let’s also realize that we are still one of the wealthiest countries in the world overall, and capitalism is to blame.

Leave a comment

Filed under cool people, economics, politics

Mornin’ Milton and some bonus regrets…

Milton Friedman on greed:

Did you know Friedman helped invent the United States payroll withholding tax system?  It’s a little like how Alfred Nobel invented dynamite, then invented that whole prize thing as a sort of apology to humanity.

Unlike Nobel, he made no apologies for his work, but did state in an interview with Reason magazine that he wished “there were some way of abolishing withholding now.”


Best of Both Worlds, Friedman’s 1995 interview with Brian Doherty at Reason

The Story Behind the Nobel Prize (according to a Korean news outlet).

Leave a comment

Filed under economics, history lesson, who's going to pay for all this