Milton Friedman demolishes Obama’s equal pay argument

Discussion in 'News / Current Events' started by Revmitchell, Apr 19, 2014.

  1. Revmitchell

    Revmitchell
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    Below are a couple of Friedman’s most compelling arguments:

    “Over and over we have to look at the actual consequences of policies, not the names of them. The immediate occasion that we’re talking about now…”equal pay for equal work,” is a claim for people supposedly for the feminist cause. Now I believe that’s an anti-feminist slogan. It will hurt the feminists. It will not help them. Why? I believe that every individual man, woman, or child should have an opportunity to get a job if he wants to and can do it. But now, if there are some people who are prejudiced — if Mr. Jones is a male chauvinist — and he would prefer to have a man rather than a woman; or a Mr. Smith is a believer in feminine rights, and would prefer to have a woman rather than a man, it doesn’t matter. But take the male chauvinist pig: If you have a law that he must pay the woman and the man the same, and if he can find some way around having to hire the woman, he gets away free. He doesn’t have to pay for his prejudice. On the other hand, suppose he has the prejudice, but we let people compete. Then the woman at least has the weapon of offering to work for less. And he has to pay for his prejudice. The free market, by enabling people to compete openly, is the most effective device that has ever been invented for making people pay for their prejudices, and thus for making it costly for them to exercise it. And what you do when you impose the equal pay for equal work law, is that you make the expression of prejudice costless. And as a result you harm the people you intend to help.”
    “I do not believe that it is desirable that we move in the direction of having a government bureaucrat decide whether A may hire B or not, whoever A and B are…and in consequence I think programs of this kind are both reducing our freedom and reducing equality. And they will…disadvantage…the very groups [which the policymakers and their supporters] intended to help.”


    http://www.theblaze.com/blog/2014/04/18/milton-friedman-demolishes-obamas-equal-pay-argument/
     
  2. Crabtownboy

    Crabtownboy
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    Milton Friedman died on 16th November 2006. Much has happened since 2006.

    Friedman has very twisted logic in his argument. He uses many hypothetical arguments that will not stand up under examination. He was slick, I have to hand him that. In economics his legacy has slipped as his laissez-faire beliefs have been shown wanting in the disastrous result of his policies, which Bush kept in place, finally came about in 2009.

    He did say he was for equal opportunity. Listening to him explain this can only lead to the realization that he really is saying, "I believe in equal opportunity, but it is more equal for some than others," which really means more equal for white men than anyone else. He was a product of his times, so his idea is understandable even if incorrect.

     

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