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The Latest Breaking News from Milton Friedman

Trump Admin Cancels $5.1B Pentagon IT Contracts With Accenture, Deloitte

According to a memo shared on Thursday, Hegseth described the spending on outside consultants as unnecessary. "These terminations represent $5.1 billion in wasteful spending ... and nearly $4 billion in estimated savings."

International Business Times

Milton Friedman's Warning to DOGE

The Nobel Prize-winning economist says the Iron Triangle of Politics must be defeated to cut down the government for good.

Reason

All Trade is Reciprocal. Trump's Tariffs Interfere With That Reciprocity.

Governments should just get out of the way of free trade among consumers and businesses.

Reason

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‘Corporate social responsibility’ is a flawed concept. What we really need is ‘corporate accountability’

Just as children outgrow their focused self-interest, corporate accountability means challenging companies to come of age.

Fortune

How Would Milton Friedman Do DOGE?

If the Department of Government Efficiency goes about this the wrong way, we could be left with both a presidency on steroids and no meaningful reduction in government.

Reason

RIP to Government Acronyms

One perk that may materialize from Elon Musk upending the federal bureaucracy is the downfall of the government’s obsessive use of abbreviations.

Reason

The Trump revolution: where it came from and where it’s going

As Donald Trump prepares for his inauguration, the world is preparing for the beginning of the second Trump Revolution. Trump’s second term will be very different from his first, when his powers were more limited and restrained. In 2016 he did not win a majority of the popular vote.

The Conversation

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2024's Unprecedented Rise in Homelessness Shows the Tension Between Free Shelter and Free Movement

Milton Friedman once observed that you can't have open immigration and a welfare state. He was mostly right.

Reason

Janet Yellen issues warning to Congress as US nears debt limit

Treasury secretary says ‘extraordinary measures’ needed to avoid default, and urges lawmakers to raise borrowing limit

The Guardian - US

How the 1980s Engineered the Collapse of the Working Class

Forty years later, policies to prop up the super rich are still going strong

The Walrus

What do Elon Musk and Vivek Ramaswamy plan to do with DOGE?

Musk wants to slash government spending by a third, and Ramaswamy wants to cut 75% of the federal workforce. Can they?

Al Jazeera

Abolish the Fed

A central bank is not essential to a functioning economy.

Reason

How Milton Friedman Can Help Us Get Through Hurricane Milton

To give storm victims the best chance at recovery, let local knowledge and markets guide decisions.

Reason

More and more, business schools want to show they’re making a positive impact on society. But how should they measure it?

Back in 1970, the economist Milton Friedman famously argued that businesses have a single responsibility: to increase profit. For decades, the so-called “Friedman doctrine” amounted to dogma in certain circles, including at many business schools.

The Conversation

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The Conversation

Why is the Reserve Bank independent from government, and why does it matter?

Negotiations over reforms to the Reserve Bank of Australia this week took an unprecedented turn when the Greens demanded the government use its reserve powers to immediately cut interest rates.

The Conversation

‘Social profit orientation’ can help companies and nonprofits alike do more good in the world

Economist Milton Friedman’s influential maxim, that a company’s sole obligation is to maximize profits, is outdated. Many companies have voluntarily integrated social concerns into their business operations through corporate social responsibility, or CSR, policies for years.

Reason

What Milton Friedman Got Wrong About Immigration and the Welfare State

He was wrong to think "You cannot simultaneously have a welfare state and free immigration."

Fortune

Fed Chair Jerome Powell is trying to explain away the inflation rollercoaster—but money supply is absent from his script

Greenwood and Hanke examined the link between changes in the stock of broad money and inflation in 27 countries during the 2020-24 period.

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Fortune

Venezuela's Nicolas Maduro proves Milton Friedman right, 60 years later

Venezuela’s socialism started out democratically with Hugo Chavez’s election in 1998—then the Venezuelan economy—and democracy—collapsed.

Salon

Reagan racialized poverty like no other

"Though Trumpism is ten times more terrifying than Reaganism, they share the same DNA"

Reason

Stiglitz's The Road to Freedom Under Scrutiny

Joseph Stiglitz thinks redistribution and regulation are the road to freedom—he’s wrong.

The Guardian - UK

The Road to Freedom by Joseph E Stiglitz review – a vision of progressive capitalism seems too little, too late

The Nobel-winning US economist’s championing of government intervention to nullify neoliberal excesses is ardently expressed but unconvincing

Evening Standard

The blinkered Bank of England plunged us into recession. It must cut interest rates now

City Voices: The Bank of England has kept interest rates too high for too long and we are all suffering as a result

Reason

Rent Control Remains the Wrong Solution to Housing Woes

Restricting the price of housing kills incentives to supply places to live.

International Business Times

Barking Mad? Milei's Attachment To 'Dead' Dog Raises Sanity Worries

Does Javier Milei communicate with a ghost dog whose death he refuses to accept?

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