It Takes a Market: Hillary Clinton, Milton Friedman, and the Family

family, market, grocery, shoppingThis week at Common Sense Concept, I use Hillary Clinton’s popular premise as a launching pad for discussion about the role of family and the subsequent role of the market in enabling it.

First, here’s my quick re-cap of Clinton’s view, which is not particularly unique in the scope of human history:

Clinton’s main argument is that we need a society which meets all the needs of all its children (“Just imagine, bro!”). For Clinton, however, such ends are not to be reached by encouraging freedom, instilling dignity, or teaching the importance of self-government and charity. Instead, children are only to reach their ultimate state of nirvana if the State becomes the family itself. After all, much like those other pesky private institutions — churches, schools, businesses…that kind of thing — the private family simply cannot be trusted (fascism alert).

To illuminate the errors within such a view, I lean on economist Milton Friedman, whose widely circulated exchange on the distribution of income vs. wealth provides some good insights.

Here’s Friedman in his own words:

The thing that is amazing that people don’t really recognize is the extent to which the market system has in fact encouraged people and enabled people to work hard and sacrifice — in what I must confess I often regard as an irrational way — for the benefit of their children. One of the most curious things to me in observation is that almost all people value the utility their children will get from consumption higher than their own.

As for where I stand, I take a view quite similar to that I made in my recent post on WALL-E vs. the Jetsons:

When the material needs are met by utilizing the proper socio-political framework, we can then more easily progress as a society toward a proper spiritual orientation. If we take a different path, and attempt to centralize each family’s plans, dreams, and aspirations, we are sure to end up in a materialistic wasteland, no matter how wealthy and comfortable a socialistic democracy can get.

It Takes a Village, Hillary ClintonAs for what this means for the children, you can probably expect lots of video games, obesity, and insecurity. (Sound familiar?)

To read the full post, click here.

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