Friday, July 07, 2006

Quote of the week 

The fundamental thing that�s wrong with our present setup of elementary and secondary schooling is that it�s a case in which the government is subsidizing a product. If you subsidize the producers, as we do in schooling, they have every incentive to have a status quo, and a non-progressive system, because they are a monopoly.
Milton Friedman, fifty-one years later. He really has come full circle to the thing that moved him from being a price and monetary theorist to a leading light of freedom. Do you think it's any accident that the first essay that led to Capitalism and Freedom was on education?