Voting Coalitions and Director’s Law
Posted on December 17th, 2009 by admin
The Robin Hood Myth: Dr. Milton Friedman explains why most government programs designed to help the poor ultimately benefit the middle-classes at the expense of the very people they were intended to help. This is Director’s Law of Public Income Redistribution. Friedman also explains why the middle-classes receive no net benefit and may be worse off due to a fallacy of composition.
Read George Stigler’s article in “Chicago Studies in Political Economy” (Page 106):
http://books.google.com/books?id=DPMjRvpmiJYC
Video excerpts from:
Milton Friedman Speaks: Lecture 02, “Myths That Conceal Reality”
http://www.ideachannel.com/product_info.php?cPath=124_132_165&products_id=44
Milton Friedman Speaks: Lecture 05, “What Is Wrong with the Welfare State?”
http://www.ideachannel.com/product_info.php?cPath=124_132_165&products_id=59
Duration : 0:5:22