Throughout the 19th century, white US citizens methodically destroyed the indigenous people of America - the Indians. In the 20th century, Nobel Laureate in Economics Milton Friedman developed an economic theory called monetarism. Using this technique, without the use of firearms and toxic substances, it is possible to destroy the excess population in any country.
Starting conditions
Milton Friedman was born July 31, 1912 in a family of small hardware dealers. Parents at that time lived in Brooklyn, which is still considered the most populated area of New York. The child got used to accuracy and economical spending of money. Each dollar was given to father with great difficulty. At school, the boy studied well and after graduation he easily entered the local university. Having received a bachelor's degree in 1932, Milton accepted the offer and entered the magistracy at the Department of Economics at the University of Chicago.
The young man came to this decision not by chance. At that time, the so-called Great Depression was gaining momentum in the United States. To understand the causes and events that caused the crisis, Friedman decided to plunge into the problem as deep as possible. He had to travel a lot around the country to get statistical material and see with his own eyes how ordinary Americans live in the conditions of the economic crisis. It is important to emphasize that the fate of the employees was not at all interesting for him. By this moment, he had already formed his own ideas about the economic model, which should be passed to.
Circle of scientific interests
One of the directions that Friedman justified included the structure of income and consumption of the average American. The future Nobel Prize winner by all means proved the harmfulness of state intervention in the economy. With energy worthy of a better application, he defended the idea of the "invisible hand of the market." In his studies and fundamental works, he introduced the term "human capital". If the essence of this figure of speech is revealed, then a person in the capitalist system was equated with a material or financial resource.
Human capital does not need to be fully utilized. Some part of everything should be kept in reserve. Just as every market participant holds a $ 100 bill in his wallet just in case of fire. An entrepreneur should have in stock not only money, but also specialists. This stock is called unemployed. Five percent of the total number of working people can receive unemployment benefits without much damage to the economy as a whole.
