Friedman credo

Journal Article · Mon May 01 04:00:00 EDT 1978 · Across the Board; (United States)

OSTI ID:6353265

Friedman, M

The economic roller coaster that the U.S. is on is the result of deeper problems other than the accelerating inflation rate that is blamed for it. The author, taking a broad view of what made this country great, sets out three main elements responsible for our success as a nation. The first was a set of values, beliefs, and institutions that provided both an incentive and an opportunity for individuals to use their own resources to better their lives and the lives of their fellow men. A second major factor that made this country great was the geographical accident that put us between two great oceans, enabling us for a long time to follow the recommendations of George Washington in his farewell address--that the U.S. remain independent of foreign entanglements--and to remain safe from foreign intervention without extensive military force. These two factors together contributed to the third great element of our historic background--an enormous growth in productivity, an enormous outpouring of wealth, innovation, and invention. The author has been quoted as saying we have no energy problem and he confirms it. ''We have a problem in the field of energy that has been created for us by governmental policy. And now, the same government that produced the problem is about to force us to follow its formula for solving it,'' he says. He reviews the policies set down by government to control natural gas prices and petroleum supplies. He does say we should not blame government, because government does what the populace wants it to do. The populace is against inflation--it wants more money spent on it, but not to be taxed for it. What is needed is a change in philosophy and attitude among the public in general, he concludes. (MCW)

• Research Organization: Univ. of Chicago, IL
• OSTI ID: 6353265
• Journal Information: Across the Board; (United States), Journal Name: Across the Board; (United States) Vol. 15:5; ISSN ACBOD
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
CONTROL
ECONOMIC DEVELOPMENT
ECONOMIC POLICY
ECONOMICS
EMPLOYMENT
ENERGY POLICY
ENERGY SOURCES
ENERGY SUPPLIES
GEOGRAPHY
GOVERNMENT POLICIES
INFLATION
NORTH AMERICA
PRODUCTION
PUBLIC OPINION
REGULATIONS
USA