Saturday, June 05, 2004

Uncle Miltie

Here is a nice interview with Milton Friedman, the Yoda of Economics. The interview begins on the topic of freedom, ie. is it increasing or decreasing, and it struck me that there realy isn't a good word in English for the "free" that's at the heart of "free-market" economics. "Free" can mean free as in speech, or free as in beer, but "market freedom" is neither of these, it's "free" as in "freedom with consequences" (the U Chicago motto) or "free" as in "competition and accountability" (which doesn't even have the word "free" in it). The French liberte ("free" as in "freedom") really does not capture the "freedom with consequences" "free" either.


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