Sometimes we need to listen to our economic past in order to understand our present. Over the years in my Microeconomics classes I have given a topic paper assignment about the late Milton Friedman. Friedman in my economic opinion was a brilliant man, I loved studying him when I was in college in the 70's. The basis of Friedman was simple, government needs only to provide for three functions: a military defense, it needs to enforce contracts between individuals and it also needs to protect citizens against crimes against themselves and their properties.
That is it. It is simple yet to the point, our economy can run itself without governmental intervention as is so prevalent today.
Government has become self serving at all three levels, local, state and federal. It has created an entitlement mentality which continues to erode the fabric of our nation as a whole and continues to demean the philosophy that economic hard work and self sufficiency helps create economic growth and well being. In my economic opinion the brilliance of Mr. Friedman is too lost today by a new group of economists who argue for more governmental spending and intervention. In 2008 the economic sky is not falling but has been entrapped by a group of millionaire self serving politicians like Dodd, Franks, Reid and Pelosi who now use their power for economic gain in total violation of their oaths of office.
I think if Mr. Friedman were alive today he would be helping and voting for the McCain-Palin ticket rather than the economic socialist ticket of the failed Democratic party. Yes, sometimes we should and need to listen to our economic past in order to understand the mess that our Congress has gotten ourselves into.