Monday, August 26, 2024

The quote from Milton Friendman about how the market economy can serve for good in politics

 


This is why I still strongly support the market economy (some call Capitalism) for not only political economics but also ethical reasoning! This is a spontaneous order inducing individuals' interests even with their evil intension trading off to providing needs and wants of the others! This is why I strongly support individuals' property right as their reward of fulfilling their motivation to survive as well as serving good for the public!!

Even comparing the authoritarian countries, those with the proper market economy, i.e. freer economy, seem to have a higher degree of social freedom than the other counterparts. Those political and socially free countries which have introduced a more collective form, i.e. less freer economy, tend to lose their overall freedom. We also have to be warned of the corporatism, the new form of totalitarianism, where a market is monopolised by few hands of corporate elites.

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