Milton Friedman, who passed away less than a year ago, was undoubtedly one of the greatest minds of our time.
Milton Friedman (July 31, 1912 – November 16, 2006) was an American Nobel Laureate economist and public intellectual. An advocate of laissez-faire capitalism, Friedman made major contributions to the fields of macroeconomics, microeconomics, economic history and statistics. In 1976, he was awarded the Nobel Prize in Economics for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.
According to The Economist, Friedman “was the most influential economist of the second half of the 20th century…possibly of all of it.” Alan Greenspan stated “There are very few people over the generations who have ideas that are sufficiently original to materially alter the direction of civilization. Milton is one of those very few people.” In his 1962 book Capitalism and Freedom, Friedman advocated minimizing the role of government in a free market as a means of creating political and social freedom.
Wikipedia: Milton Friedman
Friedman’s words about the War on Drugs are just as relevant today as they were two decades ago. Currently, America leads the entire world in prison population, both in total number, and on a per-capita basis.
The proper role of the government is to prevent other people from harming an individual. Government never has any right to interfere with an individual for that individual’s own good. The case for prohibiting drugs is exactly as strong and as weak as the case for prohibiting people from over eating.
We all know that over-eating causes more deaths than drugs do.”
The following video is about Milton’s idea about the limited role of government:Milton’s definitive work on the subject, considered by many to be amongst the 100 most influential post WWII books ever written, is Capitalism and Freedom.