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Spending by government currently amounts to about 45 percent of national income. By that test, government owns 45 percent of the means of production that produce the national income. The U.S. is now 45 percent socialist.

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"We Have Socialism, Q.E.D." in The New York Times (31 December 1989) 1989

Submitted by Normando on October 23, 2019

Milton Friedman

(1912-2006) United States economist noted as a proponent of monetarism and for his opposition to government intervention in the economy. Nobel Prize-winning economist, economic advisor to President Ronald Reagan, "ultimate guru of the free-market system.”

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