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A controlled experiment in the field of economics? The last fifty years of history have provided just that. The free economy: Hong Kong. The mixed economy: the United States. The socialist economies: Great Britain and Israel. Milton Friedman evaluates the
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All those questions and not that you had about Japan and didnt know who to ask.
Off course, when you let the greed of the “Free market†take over the country economy would rise sharply. However, is that healthy? How about the other side of the harbor? Which Milton Friedman probably did not visit. Have you seen how poor they are? Have you seen the living conditions of these people? He looks at the billionaires’ income in Hong Kong and then says the income was very good. Will off course the income would be very good, if you took the Hong Kong tycoon income and divide it by the rest of the people you would have a large income for all… all what he want to say; oh please adopt the free market policy it seems that it is working fine. The thing that really irritate me is how this man (the writer) writing about the disadvantage of regulations! Typical capitalist thoughts, no regulation should be imposed on them, because they want to increase their profit.
You get what you measure. So looking at PCI would be a bit skewed if looking at sample data. Yet they are billionaires and poor people in the US, Britian and Israel. So looking at the total population you of all those countries you can have better data.
I believe what Friedman is stating is that the restricitons aren’t there in a free market economy. That person across the harbor can easily open a business and move themselves up in the per capita ladder.
So does a person with the same status in those other countries have that ability? Will a person from US, Britian or Israel be able to open a business in their respective countires as easily as someone in Hong Kong?
My views on what a government job in the economic sector is the same as my home life that as long as I am treating everyone equally and fairly. They shouldn’t get involved.