Here’s a great news article on the life of Milton Friedman in the wake of his death. He’s a hero of mine, as he should be to all staunch proponents of free markets and classical liberalism. I’m fortunate to have heard him speak this summer in San Francisco at an ALEC event.
I remember Friedman for many things. Especially his quotes:
- Hell hath no fury like a bureaucrat scorned.
- History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
- Inflation is taxation without legislation.
- Concentrated power is not rendered harmless by the good intentions of those who create it.
- The preservation of freedom requires limiting narrowly the role of government and placing primary reliance on private property, free markets, and voluntary arrangements.
I don’t remember him saying much on intellectual property. I do remember that he was a signatory to an amicus brief from a group of economists arguing against the copyright term extension act.
He had lots of admirers; even Arnold Schwarzenegger had something to say about Friedman’s death today:
"Milton was one of the great thinkers and economists of the 20th
century, and when I was first exposed to his powerful writings about money,
free markets and individual freedom, it was like getting hit by a
thunderbolt.”
Now indulge yourself for a second and in your head go into Arnold-speak: exposure to Friedman’s writing is "like getting hit by a thunderbolt."
Yep, Friedman was a "terminator" against socialism, an intellectual "commando" and a hungry "predator" of Keynesianism. Let’s just hope he’s not the last libertarian hero to gain popular prominence.