Adam Smith, the primary theorist behind free market capitalism, said it could only exist "within an ethical context." Milton Friedman, the primary architect of free market fundamentalism, said it was only safe if we provided a UBI. 1/2

Feb 21, 2023 路 10:36 AM UTC

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Even they saw that without ethics and care for people, unfettered, deregulated crony capitalism would become a sociopathic phenomenon. And they were right. It has. 2/2
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Replying to @marwilliamson
Milton Friedman also supported taxing pollution/externalities, taxing land, and single-payer catastrophic health insurance for everyone.
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Replying to @marwilliamson
Not one more penny or one vote to demoRATS. Third party or bust.
Replying to @marwilliamson
Friedman's Negative Income Tax required the abolishing of minimum wage and all existing government handout programs. Difficult to sell that to people with their hands out. Harder to sell it to the tens of thousands of people working for government agencies handing out the money.
Replying to @marwilliamson
@Pontifex @DalaiLama @BarackObama @elonmusk @PikettyLeMonde @jattali @McFaul #GennadyZherebilov High-tech without high morality inevitably turns into a guillotine for humanity. The Mosaic World: ethic imperatives, democracy, #Super_Co_Ops #TheMosaicWorld proza.ru/2022/11/17/1339
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Replying to @marwilliamson
I think Friedman was thinking more along the lines of full employment rather than checks in the mail, but I could be wrong.
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Replying to @marwilliamson
I heard that you plan on running for pres, well good luck marianne! Id back you.
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Replying to @marwilliamson
Smith pursued a moral philosophy to define human interaction. Economics was the outcome. He wrote that free exchange is inherently ethical. Coercion, inherently unethical. And yes, he saw capitalism as subject to threats of monopolists, private bad actors, and鈥oliticians.
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Replying to @marwilliamson
Will you have UBI as one of your policies? 馃榿馃槈
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Replying to @marwilliamson
US government is the problem
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