A question I have about this — 2 years ago
I’m giving this one more chapter. Seems to be pablum for the huddled masses who can read.
Oh come on. Friedman asserts: “Cost = Value = Price”. On what planet?
Not true from the producer’s view, that’s for damned sure. Otherwise where is the profit? (price – cost). You almost want to go back to Marx, who at least knew of “surplus value”.
It looks like he will have to develop two systems of economics to incorporate profit – one for consumers and one for sellers. It works about as good and honestly as two sets of books – one for the executives and one for the shareholders meeting.
I might have to stick around until he justifies huge executive bonuses used to grease corporate mergers and buy-outs. $14 mil for three week’s “work”? America, what a country.
Comments
mikeyarmo
Too much like 1st year econ, not as real life as other books
This book was what I wish we read instead of having a textbook in first year economics. It is not as easy to read for those who have never taken economics as other books out there, but is better to read than a textbook.
mccheese
Actually I like the textbook approach because it is more systematic and you have problems to work so you can measure your learning. Also I think there is a little more consideration of diverse viewpoints. Not saying that texts are more objective – but a good textbook will let you know of other perspectives, even though the text might object to state management, etc.