Milton Friedman's free-market ideas found favor in a free-love era and helped redirect the country toward the right. The aftershocks of his radical arguments are still being felt today.
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On September 13th, 1970, the New York Times Magazine published an essay by Milton Friedman entitled "The Social Responsibility of Business Is to Increase Its Profits," which turned out to be one of the most influential economic arguments of the century.
This may worth something:
KUOW - It was an economic theory with little traction, then the pandemic hit
The United States government has been spending a lot of money lately to shore up people and businesses. The Covid-19 pandemic prompted the biggest relief package in U.S. history.
This year's CARES Act had a two trillion dollar price tag. That's half of total federal spending in 2019.
Where did the money come from? The central bank announced it would purchase an unlimited amount of Treasury bonds and government-backed mortgage bonds "to support smooth market functioning." Basically, they printed it.
Economics in Brief: As Pandemic Drags on, California's Undocumented Residents May Get Help
California Governor Gavin Newsom at a September 2020 press conference. (Daniel Kim/The Sacramento Bee via AP, Pool)
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Help may be on the way for California's undocumented residents. According to Cal Matters , lawmakers approved two bills that would provide modest financial assistance to the state's most marginalized residents. One of the bills would let undocumented tax-filers receive state tax credits set aside for low-income workers starting next spring, and the other would provide $600 pre-paid grocery cards to qualified adults.
Economic rebound more fragile without new federal aid package | The Spokesman-Review
America’s economic rebound is about to get a lot tougher after an initial series of gains from the depths of the pandemic.
Applications for regular state unemployment benefits continue to number more than 800,000 each week and chances in Congress diminished for additional support for the jobless and businesses on Thursday. What’s more, funding for the temporary supplemental jobless benefit payments authorized by President Donald Trump in early August is running out.
Quite a lot has been going on:
MSU News | Montana State University
Global Economic Recovery Shows Signs of Slowing - WSJ
Techtonic shifts - Beware the power of retail investors | Finance & economics | The Economist
T HE END of the summer often brings about a dose of realism. Children bemoan the end of their leisurely holidays and trudge back to the classroom. Summer-lovers return from the beach. This time of the year often brings stockmarket investors back to Earth, too. On average, since the 1950s, September has been the worst month for American shares.
Could it be happening again? The end of summer has brought a burst of volatility to the share prices of America's tech giants, especially the five "mega-cap" firms—Alphabet, Amazon, Apple, Facebook and Microsoft—that had driven the Nasdaq, an index of tech stocks, and the S & P 500, a broader index, to record highs in late August (see chart).
The economics of the three-point shot : The Indicator from Planet Money : NPR
The playoffs for the National Basketball Association — the NBA — are in full swing right now. And for those listeners who haven't been watching, this year's games are a little different, thanks to COVID: All the teams are in Orlando playing in what they call "the bubble". It's a complex created for teams to compete in the middle of the pandemic.
And for listeners who have been watching, you might notice that players are shooting more three point shots than they used to. The three-pointer is the shot that changed the sport of basketball. So today on the show, in the last of our summer school Friday series, we are re-airing one of our favorite episodes that Stacey and I did last year.
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