Today marks the 101st year since the birth of Milton Friedman, whose observations and conclusions ring loud and true today.
Regarding achievements, Friedman said,
“The great achievements of civilization have not come from government bureaus.”
“Einstein didn’t construct his theory under order from a [government] bureaucrat. ” Milton Friedman
Henry Ford didn’t revolutionize the automobile industry in that way.” [by government order] – Milton Friedman
Milton Friedman argues that the only cases in which the masses have escaped from grinding poverty, the only cases in recorded history is where the society had capitalism and largely free trade.
On the other side of history, the masses are worst off in the societies that depart from capitalism. Such as when Stalin moved to force the collectivization of farming which resulted in the drastic drop in living standards of the masses and widespread famine where an estimated 5 to 10 million people died of starvation.
“So the record of history is absolutely crystal clear that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.” – Milton Friedman