Monday, May 3, 2010

No free lunch

Milton Friedman was a violent man. No, he didn't advocate violence by any stretch. It's just that his ideas on the economy and that of freedom and liberty are in such violent opposition to the the current paradigm of the crony capitalism/economic fascism of Bailout Nation.

Part and parcel to this is the ruinous notion of a free lunch. Your Mom and Dad were right. There is no such thing and the longer we delay confronting unsustainable obligations be it, Social Security and public employee union pensions or all that wonderful health care we will soon be provided, the worse it's going to be.

Here's KT looking at the the other end of the equation: Profits:

All of the conversations revolve around what this or that government is going to do to solve the problems. This has the problem exactly backwards. Governments generate nothing, they only spend their nation's profits. Everything comes from profits. While austerity measures are all well and good, perhaps the more important issue is how to increase profits and how much they need to increase. Let's take the US as an example.

Read the rest about how punishing and disincentivizing profit-making by businesses both big and small is probably not such a hot idea at the link above.

And here's the object of a BwD man-crush on the subject of "free" making the dude with probably no less than a half-dozen degrees look like a 3rd grader. Profits allow for the illusion of free stuff. Somebody, somewhere is subsidizing what you formerly thought was free.

No free lunch

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