Nov 11, 2007

Milton Friedman's voucher scheme

I revered [Milton] Friedman for other reasons. For one thing, he was an endless source of insight on radical reform of the economy along free -- or at least, freer -- market lines. For example, he once framed his proposal for a voucher plan to privatize the school system in a striking way, drawing a comparison with food stamps. The government doesn't give people food by running a chain of grocery stores. It distributes vouchers in the form of food stamps that those people take to the grocery store. Similarly, he pointed out, government should not educate children by running a chain of schools. It should give parents "education stamps" in the form of vouchers that they can take to a privately-run school of their choice.

~ Gene Epstein, economics editor, Barron's, "Farewell, Dr. Friedman," November 20, 2006

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