Word: friedmanly
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...seminal work of Frantz Fanon, a Marxist sociologist, and he speaks in passing of attending "socialist conferences" at the Cooper Union in New York City. But as Obama told TIME, this was in the Reagan years, and he was also reading works by conservative giants like Milton Friedman and Friedrich Hayek. He browsed among the ideologues but never bought in, he said. "I was always suspicious of dogma and the excesses of the left and the right...
...what John McCain was exposed to, because there's a much bigger gap of years there. But you know, the truth is that my education was a pretty standard liberal-arts education. So I was exposed to thinkers on the left. At the same time, I was reading Milton Friedman and Friedrich Hayek, and I was growing up when Ronald Reagan was ascendant. So the political culture of my formative years was much more conservative...
...Nobel-laureate economist Milton Friedman wrote a magazine article about "corporate social responsibility," an earlier term for something very much like creative capitalism. Friedman said the responsibility of corporations was to maximize value for their stockholders--period. Anything else was a betrayal of those stockholders, who can always give their profits away to worthy causes if they want. But the choice should be theirs. It was argued in reply back then that social responsibility benefits the bottom line because it makes the corporation look good, thereby attracting more customers and better employees. Gates makes a similar argument. But this reasoning...
...happens, Gates' financial history has followed the Friedman philosophy more than his own. Gates founded Microsoft and ran it with legendary single-mindedness for three decades. There was not a lot of energy devoted to lifting up the world's poor. Now, having squeezed every drop out of capitalism, he is going to devote almost all his time and fortune to improving the state of the world. Even the skeptics tend to agree that the results of that redirected single-mindedness could be awesome...
...Either we were going to die or those people were going to die.'' Observers recalled other recent incidents, including the unsolved fire-bombing death of a black woman in her house in another formerly all-white neighborhood in Cleveland. ''This isn't something that happened overnight,'' said Avery Friedman, an attorney who specializes in fair-housing law. ''It's been brewing for several months.'' Later in the week the Armstrongs moved to a black neighborhood on the city's east side...