Capitalism and Freedom (1960) - Day 1b

Pages xi - xiv, Preface, 1982

Back in 1960 when it was first published it was ignored by the media. If it has been sympathetic to Socialism and the welfare-state, it would have attracted attention.

Free to Choose (1981) is a Capitalism and Freedom's child.
It has more nuts and bolts. Capitalism and Freedom is more theoretical.

Friedman reiterates (or really states it for the first time, since this is the preface to the earlier edition) that the it was not "book-larnin'" (about which my brother is fond of joking) that destroyed Socialism but rather its simple and undeniable results found wherever it was regrettably attempted. It makes one almost feel sorry for Socialists, if you assume their motives altruistic, that their most noble attempts to help the poor result not just in exacerbating their poverty but their eventual death!
In the U.S., intellectuals and Democrats became disillusioned by the Vietnam War (and the role their Presidents Kennedy and Johnson played), and the failure of welfare, public housing, support of trade unions, integration of schools, federal aid to education, and affirmative action.
I'd like to know the history of each of these programs. When did they start? When and why did people realize they were a failure? (Answer: Read Losing Ground by Charles Murray) Also, confirm with John that it is odd that it was Democratic presidents (Johnson and Kennedy) who got us involved in a foreign war to fight against communism.

This change led to Reagan being elected in '80 after seeing Goldwater be defeated in '64.

Friedman concludes by emphasizing how books like his and Hayek's don't create these changes.
In essence, he seems to support my belief that right now we need to let the liberals take over for awhile and let people get some "a posteriori" results from higher taxes, spending, and entitlement programs. That will create more conservatives quicker than some well written books or debates. It's really an affirmation of esoteric Buddhism's emphasis on experiential learning.

So what are books like this good for?

1. Subject matter for bull sessions.
2. To keep options open until a crisis forces real change. There is a great "tyranny of the status quo."

Interestingly, at the time of Friedman's writing (1982), he points out that the draft was the only one in a list of 14 unjustified government activities that had been eliminated. I doubt any of the others has been since then. Assuming that the other 14 have much more to do with economic freedom than personal freedom, this is a perfect example of my belief that the liberals have been winning.