Thursday, February 08, 2007
Capitalism and Freedom: Third Entry: 41 minutes later
Author: Milton Friedman
Book: Capitalism and Freedom
ISBN: 0226264211
Genre: Nonfiction: Politics and Economics
Date: 1962, 1982, 2002
Pages: 202
Page on: 37
Time spent reading (so far): 86 minutes.
Interesting: Government: Provide rules and a framework for free enterprise. Only in the most extreme cases should it operate a public monopoly. Private monopoly more acceptable, as long as free entry of competitors is not barred. Over time, technological changes will chip away at the private monopoly, and allow the segment of industry monopolized to become open to full free competition. Harder to change or remove the monopoly if it is a public/government monopoly. The interesting part comes in the part about Government’s provide rules and framework but Friedman is against certain regulation, like regulating the banking industry (I could very well be confused).
Book: Capitalism and Freedom
ISBN: 0226264211
Genre: Nonfiction: Politics and Economics
Date: 1962, 1982, 2002
Pages: 202
Page on: 37
Time spent reading (so far): 86 minutes.
Interesting: Government: Provide rules and a framework for free enterprise. Only in the most extreme cases should it operate a public monopoly. Private monopoly more acceptable, as long as free entry of competitors is not barred. Over time, technological changes will chip away at the private monopoly, and allow the segment of industry monopolized to become open to full free competition. Harder to change or remove the monopoly if it is a public/government monopoly. The interesting part comes in the part about Government’s provide rules and framework but Friedman is against certain regulation, like regulating the banking industry (I could very well be confused).
