(Crankers) Milton Friedman made a good argument that discusses why redistribution of wealth is more harmful than it is helpful. Milton Friedman was an influential American economist and statistician, best known for his strong advocacy of free-market capitalism and monetarism. He was a leading figure in the Chicago School of Economics and received the Nobel Memorial Prize in Economic Sciences in 1976 for his research on consumption analysis, monetary history and theory, and the complexity of stabilization policy.
Friedman’s ideas significantly shaped economic policies in the late 20th century, influencing leaders like President Ronald Reagan and British Prime Minister Margaret Thatcher. He was also known for his opposition to Keynesian economics, advocating instead for a focus on controlling the money supply to manage inflation
Watch the video of Milton Friedman explain how redistribution of wealth can be harmful: