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A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head.

Milton Friedman

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Milton Friedman
Age: 94 †
Born: 1912
Born: July 31
Died: 2006
Died: November 16
Economist
Essayist
Statistician
University Teacher
Writer
Brooklyn
New York
Milton Fridman
Politics
Worse
Kelso
Labor
Crackpot
Theory
Crackpots
Instead
Exploited
Says
Marx
Saying
Liberalism
Economy
Stood
Head
Capital

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What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.
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Prohibition is an attempted cure that makes matters worse - for both the addict and the rest of us.
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The price works so well, so efficiently, that we are not aware of it most of the time.
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A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
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With some notable exceptions, businessmen favor free enterprise in general but are opposed to it when it comes to themselves.
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Only a crisis, actual or perceived, produces real change.
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When a private enterprise fails, it is closed down when a government enterprise fails, it is expanded. Isn't that exactly what's been happening with drugs?
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China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.
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Is there some society you know of that doesn't run on greed? You think Russia doesn't run on greed? You think China doesn't run on greed? What is greed?
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One man's opportunism is another man's statesmanship.
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A society based on the freedom to choose is better than a society based on the principles of socialism, communism and coercion.
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I am a limited-government libertarian.
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The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
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I think that nothing is so important for freedom as recognizing in the law each individual’s natural right to property, and giving individuals a sense that they own something that they’re responsible for, that they have control over, and that they can dispose of.
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Whenever we depart from voluntary cooperation and try to do good by using force, the bad moral value of force triumphs over good intentions.
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My major problem with the world is a problem of scarcity in the midst of plenty ... of people starving while there are unused resources ... people having skills which are not being used.
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Not all schooling is education nor all education, schooling.
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Money is a very powerful thing, which you hardly notice when it goes right, but which can create havoc when it goes wrong.
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Every friend of freedom... must be as revolted as I am by the prospect of turning the United States into an armed camp, by the vision of jails filled with casual drug users and of an army of enforcers empowered to invade the liberty of citizens on slight evidence.
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