Word: friedmanism
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Dates: during 1970-1979
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...beleaguered sheriff is Earl Sabo, 48, a onetime security guard and a relative newcomer to Texarkana. His troubles began in 1974 when one of the town's leading attorneys, Harry Friedman, staged a country-music concert in back of a nightclub he owned. Nervous state troopers moved in to make a number of drug and liquor collars; Friedman's son was nailed on a driver's license violation, and Friedman himself for interfering with a police officer. Some troublemakers were tossed into Sabo's jail, and the sheriff could not be located to approve bail...
Morgan was promptly fired. OCI directors claimed he was acting "individually and without the authority or consent" of the intelligence unit when he planted the LEAA-funded device on Sabo. Morgan did not suffer: he quickly landed a job as investigator for Friedman's law firm and was subsequently appointed probation officer, another LEAA-created job. dispensed by local judges...
...Cooksey suffered visibly from the trouble. In Texas, Cooksey is permitted to practice law on the side, and uses his county-paid secretarial help and office (in a building owned by Friedman). Last year, in a guardianship matter tossed his way by a friendly judge, Cooksey netted a $22,000 fee; that reflected, he said, 440 hours of work, equivalent to 3% months of full-time work. He continued to receive his full $26,100 annual district attorney's salary, of course, which helped pay for a $38,000 private airplane and a private deer-hunting lodge. Sabo, incidentally...
...dictators or small-time Bonapartes to perpetuate themselves in power. It is politically chic to use the socialist label. Observes French Political Philosopher Raymond Aron: "In most countries, socialism carries the connotation that whatever is good is socialist, whatever is bad originates in capitalism." Adds Nobel-Prizewinning Economist Milton Friedman: "[For many], socialism implies egalitarianism and that people are living for society, while capitalism has been given the connotation of materialism, 'greedy,' 'selfish,' 'self-serving...
...point: many of their old ideas do not work well in controlling that endemic modern problem, stagflation. A stiff dose of Government spending, prescribed by Britain's late Dr. John Maynard Keynes to cure depression, often leads to an inflation high. The monetarist medicine formulated by Dr. Milton Friedman ?take a slow, steady increase of money supply?often produces the economic blahs. The radical surgery of wage-price controls is widely recognized as a palliative at best or, at worst, counterproductive quackery...