Cast down from shadow
Whispers bent further down wind
Casts that rise again
About the Creator
Innovation; The Unknown Alliance Between Business and Government
Milton Friedman’s view in Capitalism And Freedom proposes the idea that government should exist in the market solely to maximize unconstrained economic freedom. Government intervention into the marketplace that limits or forces consumer decision-making cannot be justified. Friedman’s argument for market fundamentalism is seemingly at odds with the historical reality of the role of government in the United States. From state police powers, to Progressive Era reforms, through the New Deal government whether being state or federal has always shaped the contours of capitalism through political, social, and cultural change. Friedmans point of view differs from the consumer health and environmental protections era (1964-1977) and the rise of the idea of the developmental state. Friedman’s philosophy has guided the idea of market fundamentalism within the false notions of the invisible hand driving innovation instead of a combination of public and private sectors. This idea is negligent to the fact that government presence in the innovation economy acts as the only entity that can invest in certain sectors. The notion that the government shouldn’t pick winners is supplanted by the idea of the government supporting large, medium, and small firms to compete for the best technology.
By SchmalzExclusive • 3 years ago
Comments (1)
Beautiful!