Nor did Milton Friedman have a particularly sympathetic view of the business leaders of late-twentieth-century America.

Instapundit-Nor did Milton Friedman have a particularly sympathetic view of the business leaders of late-twentieth-century America.

"THE VISIBLE HAND: The Distorted Market for Woke Capitalism.

• The founder of modern economics, Adam Smith, was no fan of the merchants of his time. He regarded them as among the most responsible for how “the mercantile system,” as Smith called it, accorded legal privileges to politically connected producers over the interests of consumers.
  
• Nor did Milton Friedman have a particularly sympathetic view of the business leaders of late-twentieth-century America. “The two greatest enemies of free enterprise in the United States,” he wrote, “have been, on the one hand, my fellow intellectuals and, on the other hand, the business corporations of this country.”...
  

Plus: “At the nexus of all this is a curious combination: a neo-mercantilist approach to realizing profit alongside a conviction that the business of business somehow involves resolving as many of the world’s political, social, and cultural problems as possible. This reflects deep misunderstanding—if not corruption—of the role of business vis-à-vis other groups’ responsibilities in society.”

Fascinating piece, well worth your time.--Posted by Stephen Green"