Marshall Sutherland#^Free Enterprise and The Loss Mechanism
Milton Friedman makes a sharp observation: we talk endlessly about profits, but losses are what make free enterprise work. Markets force failed ventures to close. Government? It rewards failure with expansion. Friedman argues the loss mechanism—not the profit incentive—is what makes markets work.
#video #free_markets
Milton Friedman makes a sharp observation: we talk endlessly about profits, but losses are what make free enterprise work. Markets force failed ventures to close. Government? It rewards failure with expansion. Friedman argues the loss mechanism—not the profit incentive—is what makes markets work.
#video #free_markets
