As I stated in one of my other blogs, a tactic of more sinister personality-types is to convince everyone else that selfishness is all that exists and that people are supposed to be that way. That’s why countries like the US and Britain worked so hard to make sure highly democratic forms of economic development didn’t take place.
I wish Friedman was still alive today so I’d have the opportunity to tell this lizard-faced lunatic exactly what I think about him in person.
Obviously, I have my own stance on economics which I’ve discussed in previous posts (A Challenge to the Economists), but will be discussing in more detail in future posts as well.
If it’s true that he recommended keeping a baseline level of poverty to create worker insecurity to “stimulate” the economy, then he has already destroyed one of the fundamental tenets used to justify capitalism. Capitalism is supposed to raise people out of poverty and result in everyone having more. It inherently cannot do that if a baseline level of poverty is maintained.
Again, people like Greenspan couldn’t care less about the public. He is there to maintain a ‘mindless-consumption’-economy that is “properly” under the control of the business élite and nothing more.
Those who are willing to create an environment of financial insecurity for those at the lower levels of the economic ladder ensure that they never have to experience that anxiety themselves.