“Consider Social Security. The young have always contributed to the support of the old. Earlier, the young helped their own parents out of a sense of love and duty. They now contribute to the support of someone else's parents out of compulsion and fear. The voluntary transfers strengthened the bonds of the family; the compulsory transfers weaken those bonds.”
Quote by Milton Friedman
Work
Bright Promises, Dismal Performance: An Economist's Protest
In 'Bright Promises, Dismal Performance: An Economist's Protest,' the author critically examines the gap between the optimistic forecasts and the often disappointing results of economic policies and initiatives. The book delves into the complexities of economic decision-making, analyzing the factors that contribute to the divergence between expectations and reality. It provides a detailed critique of economic theories and practices, offering insights into the challenges faced by policymakers and the implications for the broader economy. more
Author
Milton Friedman
Milton Friedman was a renowned economist known for his contributions to the field of free-market economics. His research in monetary economics, consumer behavior, and tax policy has had a profound impact. more
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