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The Toxic Economic Doctrine That Captured The Culture And Glamorized Inequality

IDEAS Posted: September 14, 2020 7:02 am

That’s right — 28 years after the Milton Friedman doctrine began the paradigm shift that made U.S. big business more powerful than ever, he was still insisting, as he had in his essay, that businesspeople with any willingness to pay a price to make society more fair were indulging “a suicidal impulse.” Which wasn’t just untrue, but by then more like the opposite of true: After the New Deal saved U.S. capitalism from its own excesses and helped enable decades of ultraprosperity and increasing equality, the full Friedmanization of our economy for the last four decades has generated such greed-driven extremes of inequality, insecurity and immobility that the system is now on a path that looks crazily self-destructive. – New York Times Magazine

IDEAS Published: 09.13.20

Read the story in New York Times Magazine Published: 09.13.20

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