Milton Friedman on equal pay for women

Milton Friedman is a teacher. A teacher not merely in profession but in a sense the Indians used that word in their ancient literature. Among the economists that I have read, Amartya Sen, Prof. Bhagavati and Panagariya etc. seem so too complicated to understand. While Bhagvati and Panagariya are towards right, Prof. Sen is towards the left. But Milton is totally different. Most often when I read different intellectuals I often see that the people who take any hard stand along and ideology are often wrong and people who merely seem to suggest what common sense would turn out to be right.

A lot of people might be tempted to bucket Milton Friedman as the champion of free markets. That he was. But it was not that he believed in a certain ideology and then took it as job to spread it but it was rather the other way round. He seems to look at the world with all its imperfections and suggest solutions which happen to be market friendly.

In my opinion the best part of Milton is his “articulation”. He does not hide behind the veil of complicated words, his words are like a tight whip.

Check the following video. Little background. In US it is normally seen that women in any position tend to have lesser salary than men in the same position. Some people demand that government must pass law where women should be equally paid. This thought I am sure will give orgasms to many Indian intellectuals who believe problems get solved by government intervention but check how Milton destroys that argument.




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