“Greed. Someone pointed out that blaming economic crises on “greed” is like blaming plane crashes on gravity. Certainly planes wouldn’t crash if it wasn’t for gravity. But when thousands of planes fly millions of miles every day without crashing, explaining why a particular plane crashed because of gravity gets you nowhere…

…Neither does talking about “greed,” which is constant like gravity.”, 85-year old economist Thomas Sowell, Senior Fellow at the Hoover Institute, Stanford University

(“This “jives” exactly with Nobel economics laureate Milton Friedman’s views about “greed”. I have posted on this blog a short video of Mr. Friedman discussing this topic decades ago with the liberal talk show host Phil Donahue. Mr. Friedman makes clear that individuals pursuing their self-interest, is key to a free and vibrant economy and to the economic well-being of society as a whole.”, Mike Perry)

Posted on January 9, 2016, in Postings. Bookmark the permalink. Leave a comment.

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