Milton Friedman on ‘Greed’ in 1979

  

In his book “Capitalism and Freedom” (1962) Milton Friedman (1912-2006) advocated minimizing the role of government in a free market as a means of creating political and social freedom.

This video is an excerpt from an interview with Phil Donahue in 1979.


  • Mabel

    DUH. this is news. Do you guys know anything about Economics. Obviously not. There are several well known economists who agree with Milt and many who disagree. Hope that’s not news to anyone who reads this blog. If so that is very scary. Perhaps you just went to schools where this Marxist teachers teach.

  • Sol_of_Texas

    Few people listen to (let alone understand) Friedman’s thoughts on economics, history, and education.

  • ARMYOF69

    I truly believe I can have a normal smart 15 year old who can figure out what our problem is, and how to take care of it.
    How about, we spend too much, and need to cut that back by a large amount, FIRST OF ALL?

  • ARMYOF69

    Warren Buffet is asking everyone to forward this email to a minimum of twenty people.

    In three days, most people in the U.S. will have the message.
    This is one idea that really should be passed around. We’re ALL in this mess together … it’s up to us to fix it … for our kids!

    Read and pass on to 20 of your friends…

    Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling …
    “I could end the deficit in 5 minutes,” he told CNBC.

    “You just pass a law that says that any time there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”

    The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months and 8 days to be ratified! Why?
    Simple! The people demanded it.
    That was in 1971 – before computers, e-mail, cell phones, etc.
    Of the 27 amendments to the Constitution, seven (7) took one (1) year or less to become the law of the land all because of public pressure. Warren Buffet is asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise. In three days, most people in The United States of America will have the message.
    This is one idea that really should be passed around.

    Congressional Reform Act of 2012
    1. No Tenure/No Pension
    A Congressman/woman collects a salary while in office and receives no pay when they’re out of office.

    2. Congress (past, present & future) participates in Social Security.
    All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

    3. Congress can purchase their own retirement plan, just as all Americans do.

    4. Congress will no longer vote themselves a pay raise.
    Congressional pay will rise by the lower of CPI or 3%.

    5. Congress loses their current health care system and participates in the same health care system as the American people.

    6. Congress must equally abide by all laws they impose on the American people.

    7. All contracts with past and present Congressmen/women are void effective 12/1/12.

    The American people did not make this contract with Congressmen/women.
    Congress made all these contracts for themselves.
    Serving in Congress is an honor, not a career.

    The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.
    If each person contacts a minimum of twenty people then it will only take three days
    for most people (in the U.S. ) to receive the message.
    Don’t you think it’s time?
    THIS IS HOW YOU FIX CONGRESS!
    If you agree, pass it on.
    If not, delete.
    please keep it going, and thanks!

  • sashamanda

    Friedman was a free market capitalist; he did not support crony capitalism including business subsidies and preferential tax treatments.

  • The Truth

    Liberals have been at trying to destroy Capitalism for centuries. They may have finally got their ill-wish through Obama, and thus the destruction of our country. The government run benefits will run out soon and these poeple who voted for it will be the same ones who will suffer the most.

  • Oscar De La Renzo

    Phil Donahue always has been a “WUSSY”, and probably still is if he is still alive!!!!

  • not Jocko

    Folks should listen to the entire Friedman interview (continued on YouTube). While I agree with this segment, dear Milton held uber-liberal philosophies too, which are not acceptable to most conservative Americans.

  • SallyE

    I loved watching him take the Socialist Phil Donahue to school. Friedman was so clear and so right. Even Obama should be able to understand.

  • Toni B

    touche

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