Neoteric wrote:

Rattle wrote:

Milton Friedman, the Nobel-prize winning economist who helped shape and define free-market economic theory, died Thursday at the age of 94 in San Francisco.

RIP.. We owe much to Friedman.

whatever. punk owed me some trickle down. free market my ass.

His biggest argument, and the one that will probably ultimately stamp his legacy, was that less government intervention in markets accelerates innovation and has a positive effect on the economy. Things that would ultimately 'trickle down' which would benefit from LESS government intervention are healthcare, telecommunications, real estate, and education. All of these sectors of the economy are facing horrible growth rates or inflation (or both) and that's mostly due to improper alignment of competition or governmental regulation which enforces monopoly.

A good example of how this could work is the energy industry, which has much less regulation than ever, and hence, has been drowning in profits for the last few years. Innovation has moved from a complete standstill 5 years ago to huge investments and growth rates in new technologies, techniques, and processes for energy production, distribution, and consumption.

RE: Nobel economist Milton Friedman dead at 94 - Nov. 16, 2006