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Milton Friedman

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The political principle that underlies the market mechanism is unanimity. In an ideal free market resting on private property, no individual can coerce any other, all cooperation is voluntary, all parties to such cooperation benefit or they need not participate. There are no values, no "social" responsibilities in any sense other than the shared values and responsibilities of individuals. Society is a collection of individuals and of the various groups they voluntarily form.
The political principle that underlies the political mechanism is conformity. The individual must serve a more general social interest — whether that be determined by a church or a dictator or a majority. The individual may have a vote and say in what is to be done, but if he is overruled, he must conform. It is appropriate for some to require others to contribute to a general social purpose whether they wish to or not.
Unfortunately, unanimity is not always feasible. There are some respects in which conformity appears unavoidable, so I do not see how one can avoid the use of the political mechanism altogether.
--
"The Social Responsibility of Business is to Increase its Profits" in The New York Times Magazine (13 September 1970)

 
Milton Friedman

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Democracy and socialism are means to an end, not the end itself. We talk of the good of society. Is this something apart from, and transcending, the good of the individuals composing it? If the individual is ignored and sacrificed for what is considered the good of the society, is that the right objective to have?
It was agreed that the individual should not be sacrificed and indeed that real social progress will come only when opportunity is given to the individual to develop, provided "the individual" is not a selected group but comprises the whole community. The touchstone, therefore, should be how far any political or social theory enables the individual to rise above his petty self and thus think in terms of the good of all. The law of life should not be competition or acquisitiveness but cooperation, the good of each contributing to the good of all.

 
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Democracy is based on the majority principle. This is especially true in a country such as ours where the vast majority have been systematically denied their rights. At the same time, democracy also requires that the rights of political and other minorities be safeguarded.
In the political order we have established there will regular, open and free elections, at all levels of government — central, provincial and municipal. There shall also be a social order which respects completely the culture, language and religious rights of all sections of our society and the fundamental rights of the individual.

 
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