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November 11, 2010

Milton Friedman vs. the 'Spread the Wealth' Mentality

I found this exchange between a Donahue audience member and Milton Friedman interesting to our present situation. The woman argues that the rich hoard their wealth in a way in which it does not reach the public at large. Friedman accurately describes what happens to excess wealth, it is invested.

But, to today's conversation, where do you think that money is being invested? Is it being invested in America with its unreasonable regulations and possible increasing tax burden? Or is it being invested in countries that are friendlier to the free market and allow investors to control more of their capital? Food for thought.

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