What I Learned About ‘Woke’ Capital and Milton
Friedman at the University of Chicago
https://www.wsj.com/articles/to-get-politics-out-of-business-get-business-out-of-politics-ce492e1c
James Mackintosh:
Friedman features prominently in Chicago, both physically—there is an institute that bears his name—and in many syllabuses. But my impression was that today’s professors emphasize the drawbacks of markets at least as much as their benefits. Sure, it is true that free markets are the best way to run an economy that is fully competitive, has no unpriced side effects, or “externalities,” such as carbon emissions, and where contracts cover every eventuality. Unfortunately, these conditions aren’t met.
https://www.wsj.com/articles/to-get-politics-out-of-business-get-business-out-of-politics-ce492e1c
James Mackintosh:
Friedman features prominently in Chicago, both physically—there is an institute that bears his name—and in many syllabuses. But my impression was that today’s professors emphasize the drawbacks of markets at least as much as their benefits. Sure, it is true that free markets are the best way to run an economy that is fully competitive, has no unpriced side effects, or “externalities,” such as carbon emissions, and where contracts cover every eventuality. Unfortunately, these conditions aren’t met.