Milton Friedman: Private Vs. Public Sector

The UK NHS in a nutshell.

Problem is that the "fittest" private organization is not the one that's best for the public, it's the one that creates most wealth, which isn't automatically in the interest of the public. See healthcare.

Simply stating that "public organizations don't work because mistakes aren't fixed" due to some unspecified law of nature is shoddy reasoning at best.

Thank You!

Government: we lost 40 tanks. Missing, we have no idea where they are. Too bad.

Private sector: sir, the sales manager lost 40 MacBooks. Missing, he has no idea where they are.
Boss: fire him and call the police to do an investigation! Someone is going to jail!!!

"what the private system abounds in is survival of the fittest, what the governmental system abounds in is expansion of the mistakes"
look how smug he is while saying it, knowing it will be distributed by idiots everywhere
how to dumb down economics 101

If a private organization does things badly it will lose its organization, if the government does things badly it will be expanded they don’t recognize error! Thinking of the DNC

Luis, public sector treats substandard employees better than private sector.....ok

The public sector treats its employees better than private ones.

As rightly commented below, the "too big to fail" public bailout of the private banking sector has made his view a nonsense at the macro level. Milton Friedman, Freedom no Justice.

The point being that MF is wrong because the distinction between the public and private isn't always clear. There are such things as markets being created by govs using public money.

Like the banks did?

And why would it be expanded, he gave no rationale past just assertion.

Then there is the problem of private companies who behave badly, Facebook ring any bells?