The Economists' Hour
The Rise of a Discipline, the Failures of Globalization, and the Road to Nationalism
by Binyamin Appelbaum · first published 2019
100% neutral
Tells the story of the conservative economists espousing free market and deregulatory policies during the four decades between 1969 and 2008. Leading figures such as Milton Friedman, Arthur Laffer, Walter Oi, Alfred Kahn, and Thomas Schelling believed that government should stop trying to manage the economy, and that markets would deliver steady growth and ensure that all Americans shared in the benefits. But, Applelbaum argues, these policies failed to deliver on their promise of broad prosperity, and the singleminded embrace of markets has come at the expense of economic equality, the health
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…idea — God bless; keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along. [Applause]" [0] https://www.amazon.com/Economists-Hour-Prophets-Markets-Frac... [1] https://youtu.be/htX2usfqMEs?t=51
on “‘Raise my taxes – now ’: the millionaires who want to give it all away” ↗…hodge podge of article links. It’s more of a philosophical argument. As a recent example, I read this book “The Economist’s Hour” which is a left-wing critique of free markets https://www.amazon.com/Economists-Hour-Prophets-Markets-Frac... It’s thrust is that free markets are good, but need to be regulated by the government to make them fair. I disagree with many of its conclusions, but I did appreciate the numerous…
on “Interpol issues 'red notice' for Carlos Ghosn's arrest” ↗Correction: It wasn't Gopnik I was paraphrasing but Binyamin Appelbaum, The Economists' Hour [3]: "[Milton] Friedman chose to see the role of individual initiative rather than the context of public support. He celebrated drivers and took roads for granted." [3] https://www.amazon.com/Economists-Hour-Prophets-Markets-Frac...
on “California wants to tax companies for executive pay ratio” ↗…been experienced by Milton Friedman, who "celebrated drivers and took roads [and cars and gasoline and ...] for granted," according to NY Times economics correspondent Binyamin Appelbaum in his book, The Economists' Hour. http://www.economicprincipals.com/issues/2019.09.01/2253.htm...
on “Automation enables founders to grow companies with fewer and fewer employees” ↗…for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did." [0] In his book The Economists' Hour, NY Times economics columnist Binyamin Appelbaum argues that free-market icon Milton Friedman "celebrated drivers and took roads [and cars and gasoline and ....] for granted." [1] Some would doubtless…
on “The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners” ↗…time), but free-market absolutists aren't being realistic, largely for the reasons mentioned by 'defrost in response to you. (NY Times lead economics writer Binyamin Appelbaum got it right in his book The Economists' Hour when he said, of Milton Friedman, that Friedman celebrated drivers but took roads for granted.)
on “The invisible laws that led to America’s housing crisis” ↗…disregards all the other factors that went into the individual's coming into control of those assets. [0] It's reminiscent of what NY Times lead economic correspondent Binyamin Appelbaum said in The Economists' Hour about Milton Friedman, the famed free-market evangelist: Friedman celebrated drivers but took roads for granted. [0] https://youtu.be/htX2usfqMEs?si=Sxx3ew7yhJ66ydU5&t=51
on “Let's Talk About the American Dream” ↗His worldview is starting to seem increasingly blinkered and reductive. It's reminiscent of something that Binyamin Appelbaum said, in his book The Economists' Hour: That Milton Friedman celebrated drivers and took roads for granted.