A question I have about "Hidden Order: The Economics of Everyday Life" — 3 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.
