A lot of people are talking about the Occupy Wall Street movement and we did publish an article about the OccupyLincoln movement this weekend.
One of the central themes one can detect within this movement regards “corporate greed”, and it started with a specific criticism of the corporate greed on Wall Street and its influences on politics. Some of the participants in these occupation groups say government is being run by corporations.
The participants in this movement charge that corporate influence should be heavily taxed, heavily regulated and banished entirely from the political process. Apparently, removal of corporate influence will solve all problems.
Some members of the Occupy movement are actually blaming capitalism and say it is a failed system.
Such philosophy is inherently flawed because it leaves out a huge factor – government and the politicians who run it.
In a 1979 appearance on the Phil Donahue show, economist Milton Friedman addressed this whole subject, articulating it better than, perhaps, anyone else before or since. (E-mail subscribers, click here to view the video.)
Capitalism is a system that properly acknowledges human nature. It is human nature to operate on self interest. It is our efforts to deny this essential reality on both sides of the political aisle that is what is ailing this country at present.
It’s time to “Occupy Reason”…
The comments by Milton Friedman were actually near the end of an appearance on Donahue’s show, which covers many fundamental issues about economics, government, and public policy. Linda and I highly recommend to readers that it be viewed in its entirety. For those interested, here is the appearance in its entirety, in chronological order:
Part 1
Part 2
Part 3
Part 4
Part 5
Milton always equals HOMERUN…Phil here is your tail now TUCK it you know where..
Thanks for the post and the Milton Friedman video recommendation. It is amazing how timely this is for today having been taped in 1979.
I will be sharing and recommending also!
Blessings/sc
Reading comments on the local OccupyLincoln page leads me to believe that the majority of their are not unintelligent, but rather uninformed or misinformed.
Since there is free access to their encampment for anyone who has a tent (but is not homeless), I wonder if it would be technically possible to set up a screening of Mr. Friedman’s comments for them? This would fall under the category of
“I’ve got a great idea that someone else should do.”
Norlyn,
This is a great idea. This may not be as difficult as it might sound, perhaps, if they are willing to accept any outside information. There was talk, I saw, of obtaining a way of showing video material. At the very least, ultimately, the link could be shared on their Facebook wall, unless new measures to prohibit dialogue over there (ironic!) prohibit that. We’ll see!
I meant them, not their. Oh, and bring your “Occupy Reason” sign.
Being a fan of Freidman for awhile now, it was great seeing how he directly confronts a untrue or unsubstantiated statement made by liberals with actual facts. The truth is that we must not allow exaggerated statements to be introduced when debating an issue. Congressman Rangel is a perfect example, who when introducing or confronting a bill, presents facts that are not true in an attempt to persuade.
I love how this segment of Freidman addresses the danger of government intervention by regulation and the differences between need and want.
Looking forward to this becoming a series here.
One can never miss with Milton Friedman, and yes, I think a lot of these people are somewhere between malinformed and misinformed with regard to the difference between capitalism and crony capitalism.
“Occupy Reason”, OK that I’m borrowing/stealing. Nice to find others of us out here on the prairie
Hello Dave,
Thanks for stopping by and taking the time to comment. A reprise of Friedman is always a good idea when economic issues rear their head, for sure. Occupy Reason – “steal” away – let’s multiply this! Sure beats the current trend with the other trend on that word. Hope you will stop back again and see us soon.
Thanks,
Shelli
i just hope they are vs..because as far as my knowledge is concern. Most in the government official are elite, and that is fact. YOu can never be in the position with resources. So, who are those elite and capitalist? vs? i doubt so..
Sunpower,
I am simply not following what it is you are trying to say. What do you mean by “vs”?
And what does capitalism have to do with this?
Please clarify.