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Milton Friedman

Milton Friedman



Milton Friedman, the lead theorist of the Chicago School of Economics for a half century, was a staunch supporter of laissez-faire economics.

Milton Friedman claimed that when an economy is highly distorted, the only way to reach that perfect capitalist laissez-faire state was to deliberately inflict painful shocks - like Ewen Cameron and Adolf Hitler. Only "bitter medicine" could clear the economic distortions of ingrained socialist patterns.


He envisioned de-patterned societies returned a state of a pure free market cleansed of all tradition, all government regulations, all trade barriers and all entrenched corporate interests. Milton Friedman dreamed of a free market state of "natural" health, when all was in balance, before human 'interferences' created distorting patterns. This is communism.

Milton Friedman defended his ideas as a quest for the purest possible form of "participatory democracy" because in the free market, "each man can vote, as it were, for the color of tie he wants."

Milton Friedman's Chicago School of Economics ideology promised "individual freedom," a project that elevated citizens above any collective enterprise and liberated them to express their free will through consumer choice.

A large part of the appeal of Chicago School of Economics was that when the idea of solidarity among workers' was gaining ground around the world, Chicago School of Economics ideology provided a way to defend the controlling corporate interests by solidifying them behind the idea that if they banded together behind this common ideology the workers' would be unable to force concessions.

John M. Olin, realizing this would give ultimate power to controlling corporate interests became a longtime funder of Milton Friedman's ideological crusade and the largest single funder of corporate think tanks.

"The Keynesian revolution against laissez-faire was costing the corporate sector dearly. Clearly what was needed to regain lost ground was a counterrevolution against Keynesianism, a return to a form of capitalism even less regulated than before the Depression. This wasn't a crusade that Wall Street itself could lead - not in the current climate. If Milton Friedman's close friend Walter Wriston (BB,CFR), head of Citibank, had come forward and argued that the minimum wage and corporate taxes should both be abolished, he naturally would have been accused of being a robber baron. That's where the Chicago School came in. It quickly became clear that when Milton Friedman, a brilliant mathematician and skilled debater, made those same arguments, they took on an entirely different quality. They might be dismissed as wrongheaded but they were imbued with an aura of scientific impartiality. The enormous benefit of having corporate views funneled through academic, or quasi-academic, institutions not only kept the Chicago School flush with donations but, in short order, spawned the global network of right-wing think tanks that would supply the counterrevolution's foot soldiers worldwide."- Naomi Klein
In an attempt to upset the socialized state with political and economic shock therapy the oligarchs of South America targeted leaders of unions, "disappeared" community leaders and assassinated relgious leaders such as Padre Óscar Arnulfo Romero y Galdámez.

Augusto Pinochet and his Latin American compatriots attempted to heal their countries of the sickness of socialism, of the impulse toward collective action, by cutting their gangrene corrupted arms off. They found out too late that you can not get much done without your arms (labor).

"In testimony from truth commission reports across the region, prisoners tell of a system designed to force them to betray the principle most integral to their sense of self. For most Latin American leftists, that most cherished principle was what Argentina's radical historian Osvaldo Bayer called "the only transcendental theology: solidarity." The torturers understood the importance of solidarity well, and they set out to shock that impulse of social interconnectedness out of their prisoners. Of course all interrogation is purportedly about gaining valuable information and therefore forcing betrayal, but many prisoners report that their torturers were far less interested in the information, which they usually already possessed, than in achieving the act of betrayal itself. The point of the exercise was getting prisoners to do irreparable damage to that part of themselves that believed in helping others above all else." - Naomi Klein



1898 Franklin Olin, along with his two sons John M. and Spencer, form Western Cartridge Company.

1916 Olin's make a fortune supplying ammunition during World War I under the brand name Western Cartridge Company.

1931 Olin's purchase the Winchester Company.

1944 Olin companies organized under a new corporate parent, Olin Industries, Inc.

1954 Olin Industries and Mathieson Chemical merge to form the Olin Mathieson Chemical Corporation. 35,000 employees, 46 domestic and 17 foreign plants.

1969 Olin Mathieson Chemical Corporation becomes Olin Corporation.

1980 Olin sells Winchester firearms to the firm's employees under the name US Repeating Arms Company but continues manufacturing ammunition.

2001 The ammunition business became strong and remained strong after the invasions of Iraq, Afghanistan, Libya and Syria.


2005 John M. Olin Foundation closes and so did its father the Franklin W. Olin Foundation.

The New York-based John M. Olin Foundation , grew out of a family manufacturing business (chemical and munitions), funded right-wing "think tanks" including the American Enterprise Institute, the Heritage Foundation and the Manhattan Institute for Public Policy Research.
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