MrRodgers
Posts: 10542
Joined: 7/30/2005
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“Capitalism and Freedom,” “there is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits.”
One could go with that and many do and quite purposefully because it is...out of context. Now you wouldn't know that from the last 30 years of republican economic dogma and what we've seen from the corporate community. They both willing to do anything for 'business' i.e., profits.
BUT here is the rest of the quote..."so long as [it] stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.” Well...there goes the neighborhood.
While I do not for a minute think Friedman should have received a Nobel prize for that book and his ideas but really not because Friedman was wrong. He was essentially correct but it isn't capitalism that promotes freedom. (see China) Rather,it is the free market that promotes freedom.
Capitalism under our monetary plutocracy has nothing to do with freedom or society. Free market capitalism is THE oxymoron of the 20th and now 21st century. Notice, there is almost no competition in corporate business we having far, far fewer companies competing and we've seen fraud on a multi-trillion$ level.
The free market is nothing like what we have today (from when the corrupt formed the fed in 1913) and since WWII 'capitalism' hasn't paid for anything. It has instead run up an estimated $40-$60 trillion in pubic and private debt that is only getting larger. Here
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Repubs and Friedman - 
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