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Originally posted on Unlearning Economics:

Milton Friedman is quite a revered figure – among economists, conservatives, libertarians and some leftists – partly, of course, because he was a prolific economist, but also in large part due to his debating skills. He is generally perceived as able to shut down arguments from the left with simple, easy to understand, often amusing one liners. However, I have always found him unconvincing, and here I hope to show why.

There will be, of course, numerous conceptual disagreements which I will try not to discuss in this post: the phony market-government dichotomy, where government is some exogenous entity; the general idea that self interest will lead to the best of all outcomes; the invocation of the mythical ‘free market.’ Nor is the purpose of this post to draw attention Friedman’s major intellectual arguments themselves – though I have already done that with his stance on assumptions, corporate social…

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