Economics Without The B.S.**:
[** Double entendre intended.
Conservative Economic Theory versus
1960 Liberal Economic Theory
The difference between “Libertarian” Milton Friedman’s economics and the “Liberal” economics of the Kennedy/Johnson years:
Milton Friedman said:
High employment
Stable prices,
Rapid growth
JFK’s economic advisors:
Maximum, productivity
Maximum employment
Maximum purchasing power
Milton Friedman was an advocate of a limited federal
government to preserve individual liberties.
JFK’s economic team were advocates for the economy operating at its full potential and if it wasn’t the role of the federal government was to provide incentives to the private sector to alter capital formation in order to get the economy at its full potential.
[By the way, by the economy’s peak
performance in 1965/1966 industrial capacity was at 90%.]
And by the way, Milton Friedman never worked in
government, like JFK’s economic team. You can obtain their report in the link below.
