The 4 Ways to Spend Money by Milton Friedman (HD)

[DavidByrne85]

Friedman constantly sounds like he's explaining the world to an 8 year old child. His arguments are asinine.

[Jordoom777]

@DavidByrne85 Evidently, that's how you marxists communicate.

[DavidByrne85]

@Jordoom777 Ooooh. Zing.

[colquest]

@DavidByrne85 Well, he probably had the loony left in mind..

[DavidByrne85]

@colquest I'm sure you'd acknowledge though, these analogies are simplistic beyond coherence. It's Bill O'Reilly (/Michael Moore if you prefer) level shit....guess I just expected more.

[GreenAngelPartners]

But we all pay tax, even those who distribute tax, and if the tax distributor has children! they might have a vested interest in their education.

AngelPartnersLtd . c o m

[mba2ceo]

idiots - taxpayers elect school boards that allocate money. Therefore the electorate determines allocation.

[MandyFilet]

The third way is the best. :)

[krishnesh78]

What about NGOs? They spend someone else's money on someone else- so they don't seek the highest value. So does Friedman mean that NGOs should give the money they have to those who they are serving fr?

[ajsaccount1991]

a brilliant economist! Jon Stewart is so full of crap

[Procrastinator411]

The reality is if we could train EVERY CHILD in America with the highest possible quality education there would unfortunately NOT be enough jobs to fulfill that surplus labor. What would companies and organizations use to "filter" out the who gets in and who is left out? How would parents position their children to be in line for the next best career? How would wealthier parents out maneuver those less affluent? Like it or not, school (public or private) is a type of "filter" on opportunity.

[heyassmanx]

@Procrastinator411 Dear God man. Knowledge has more uses then getting someone a career and joining the workforce. Under no circumstances should anyone have their education limited. In my opinion a very cynical statement you attempted to make.

[Procrastinator411]

@heyassmanx knowledge for knowledge sake is great, but let's be realistic. People from all around our country and from every class know that a degree from Harvard will serve them better than a GED from high school. I would LOVE it if we could educate everyone to their full potential, but my point is the system is set up currently to allow for education to be the sift which narrows the prospective candidates entering a workforce. How many PHDs do you think would be willing to do manual labor?

[heyassmanx]

@Procrastinator411 ohh I gotcha. But are you saying the way the current education system is set up is sufficient or no?

[ivandgonzalez]

It’s something confusing. Management is basically spending the money of someone else. That’s the core of what an investment bank does.

[MrMadPsyntist]

"The rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion"-Adam Smith(The Wealth of Nations). Smith warned against big businesses forming monopolies and conspiring against the public to raise prices. He also had his apprehensions abt Laissez faire. So, Friedman can wear an Adam Smith tie, shirt or underwear but the fact remains he either did not understand Smith or misrepresents him.

[thinkfree41]

Simplistic twaddle from the master purveyor of fascist falsehoods.

[skywolf8113]

Who is this dumbfuck? Teacher's aren't spending their own money? BULLSHIT TEACHER's spend their OWN MONEY, quite often to make sure that a child can receive a quality education. what a dumbass...

[tflst5]

i think we need a show like intervention where we show milton friedman videos to 'Daily Show' kiddie socialists and watch them snap out of their haze. 

[HoGraz]

@tflst5 'SCUSE ME WHILE I KISS THE SKY!!

[heyassmanx]

@tflst5 I totally agree with u man but I think your oversimplifying a very legit beef a lot of those kiddies have...

[russle360]

@tflst5 People who watch The Daily Show are not "socialists", mmk? What a stupid generalization. Milton Friedman is an amazing man with brilliant, logical arguments; but you're stupid to think that any other value on the other side of a spectrum is all of a sudden wrong.

[noobler9]

@tflst5 we the people spend the money on ourselves, it's not 4, it's 1

nyoro~

[cmkt4th]

@ lifevt94hellotoworld

The teacher is not SPENDING money, he is RECEIVINGING money.

The prents are spending, and they will enlist their child at another school if the teacher does not deliver value for the parent's money

[seppsters]

I don't think that's true, I'm more careful when I buy a something for someone with my money than when I spend on something for myself. It was a bad example, but it prooves that there are no utopias or "universally perfect" economic models.

[HammerOvThor]

@seppsters I guess you've got to define "perfect" now.

[seppsters]

@HammerOvThor

Independent of time, space or any other variables...

[nphanlon1973]

let's put it this way;airline pilots,more than any other profession,can be counted to be trying they're best because it's they're own life at stake just as yours is.if a doctor messes up he might be sued but he gets no automatic death penalty like the airline pilot.that is the difference between spending your own money and someone else spending it on you.

[eggory]

No matter whose money you, the buyer, spend and on whom, there's always somebody else involved, the seller, the person who provides the value in exchange for money. Your success in having a favourable exchange always depends on the seller, almost always in part on how they spend your money. The government is just another seller. Except there can be only one of them at a time, they only make a new deal every 4 years, and they don't need your permission to take your money and spend it.

[cmkt4th]

@@lifevt94hellotoworld

Sending your child to a private school = spending your own money on yourself.

If the teacher does not deliver good value, the parents will take their money somewhere else.

[lifevt94hellotoworld]

Well, a teacher working at a private school will spend the school´s money on the children. Thereby also spending somebody else´s money on somebody else. FAIL MILTON FRIEDMAN

[larzovic84]

@lifevt94hellotoworld I dont think you get the point. Try watching the video again :)

[lifevt94hellotoworld]

@larzovic84 Well, I get the idea that those whose private finance depends on the school (the owner) will more likely run the school more efficently than, for example, a headmaster at a public school. I'm only saying teachers (even the ones working at a private school) will still end up using someboby else's money on somebody else.

[UnitedPebbles]

I dreaded when I consume that "free" chocolate milk during those public school years. Talked about the loss of calcium, when your body can't absorb anything with lactose, suffering from gas and diarrhea + the effect of caffeine on your bone mass.

You got to evaluate, who benefit the most from this "free lunch" program?

Probably the 1 who is really hungry and of certain genetic traits.

That is when it all started, when you was a child! Don't be surprise if they have an advantage later in life.

[UnitedPebbles]

He forget about human psychology and behavior.

You better eat free food at your public school program or suffer by the wrath of the Democrats. Why? Are you not aware of the effects of spoiled food and cheap snacks? There are no refrigerators in school, and for that many children!

You don't have much choices anyway. Eating PB & J everyday, will get you fat and clog your artery. But guys like Milton, who are probably lactose intol. will die of thirst if he doesn't consume that milk.

[sigge951]

I have 500 dollars and idk what to spend it on

[Vnam72]

Interesting, but when I spend someone else's money, because I am accountable to that person, I make every effort possible to get the best deal possible. I apply stricter standards than when I spend my own money, in which case I will be careful, but if I make a mistake, I'm not that bothered.

[shadowfighting88]

The Government spends our money in haste patting each other on the back

convinced that they are doing everyone a favour. Then they have the audacity

to place restrictions on everyone taking a totalitarian approach, depriving us

of our freedom, and making ignorant people believe that they are looking after

them.

[mackbox123]

But then private schools are too expensive to attend! What should we do?

[fliegeroh]

@mackbox123 - What will happen is this. Private schools will open which will be cheaper and draw students away from the more expensive private schools. As long as they maintain quality and people find them to be good schools, they will continue to attend them and drive the price of all private schools down to a more affordable rate. In the current system, we have terrible schools that are very expensive to the taxpayer. The worst of all possible worlds (lower right hand box).

[mackbox123]

@fliegeroh Thank you for your reply! Indeed, it inspired me to probe further into the problem of schooling. I'm from Hong Kong, the 'free market' Friedman advocated. Most secondary schools here are subsidized partially or even completely by the government. This may sound a disaster to the student, but in fact, some very prestigious secondary school, say Queen's College and St. Joseph's College, are within this category. But what then is prestigious? I think that's the crux of the problem.

[mackbox123]

@fliegeroh As you say, if the school will maintain 'quality', but what is high quality education? I think this varies from student to student. But, sadly, one have to attend that school before he can really determines whether a school is good or not. And sometimes, that will be too late to rectify. Thus, when students choose schools, they are actually looking for figures, say University admission rates, qualifications of teachers, etc. In Hong Kong, this is what 'prestigious' meant indeed.

[mackbox123]

@fliegeroh Hong Kong's education is practically examination-driven. We have two public examinations for high school students, just like the O-level and A-level in the UK. About 100000 students take part in the first, 40000 take part in the other. But what about the 60000 students who have taken the first exam? Actually, they are 'out-competed' by the 40000 students and have to find their own way out. Chance for college admission for these students are really low, if not zero.

[mackbox123]

@fliegeroh Sad enough for those 60000 lads, but the story hasn't ended yet. For the remaining survivors who are 'priveleged' to take part in the second round of the battle, it's depressing to know that only half of them may gain admittance to college. Colleges choose students mostly depend on their examination results and to aid the universities, examination authorities here raises the standards of the exam to high levels to select the better students from the lot.

[mackbox123]

@fliegeroh A very stunning fact: the English exam only award 0.5% of all candidates distinction, that's about 250 in that 40000. Thus, the level of 'prestige' of a high school, at least how most students and parents view, really depends on the public examination results. But are perfect exam scores literally mean 'good education'? No, absolutely, but in Hong Kong it is. If the government stop subsidising the school, the problem will even worsen, I promise. First of all, the level of 'prestige'

[mackbox123]

@fliegeroh is different among secondary schools initially. The schools are not competing on fair basis. But the so-called 'worser' schools may not be as bad, as it takes time to build up their reputation. Or perhaps, these are the truly 'good' schools. And that's the second reason. The schools that are 'bad' may allocate their resources, from the government, to organising more field trips, have small-class teaching (most HK schools have about 40-45 students in a class for now), etc.

[mackbox123]

@fliegeroh But isn't that what education should be? Now if the government removes completely the aid, these only good schools may be eliminated completely by those exam-results driven high schools. Actually, I am from one of these exam-results driven schools, and believe me, you won't like how the teachers teach there. More interestingly, cram schools are very prevalent among students in Hong Kong. They can be regarded as private schools, I believe.

[mackbox123]

@fliegeroh Students are not forced to take these classes. Their parents have to pay for the class. And you're right! These schools have excellent teachers, excellent notes. Some of my friends even claim that attending school is a waste of time as all the examination syllabus is taught more consise in these cram schools. But at the same time, these cram schools are highly profitable. Some of the teachers earn a salary far higher than most industries (say a million US a year), and be reminded,

[mackbox123]

@fliegeroh salary tax is less than 20% here. In fact, Modern Education have issued shares on the stock market. That's how profitable those cram schools are. But again, are they really the so-called 'good education'? Those teachers even organise the so-called 'tips class' which predicts what will probably be examined in the coming public examination. These are truly the private schools in Hong Kong. But they are just businesses, not schools.

[mackbox123]

@fliegeroh Unfortunately, education is education, student is student. Students want education which will only make them stronger, academically mostly. But educators want these students to have all rounded education, that includes arts, music, civic education, etc. Their aims can never truly matches that of student, but in fact they are right! Education should be all rounded! Educators thus may still influence schools on how schools are supposed to teach the children through education policies

[mackbox123]

@fliegeroh But if this controlled is completely removed, the whole education vision of the educators may crumble. Competition for college places is keen, and the only fair way to discriminate the 'better' students is still examination. Cram schools may rule completely in that case, not good schools, but some businesses which aim to earn a profit. Anyway, this problem may be resolved one day, hopefully. (And wow, this is the longest reply I've ever made!)

[oneNonly1fullofsome]

to sit and say society is not better off with having a public school system, an educated public, is dangerous, and is currently being carried out

[rossrogers89]

@oneNonly1fullofsome that isn't what he said. but w/e

[wtfjaftw]

@oneNonly1fullofsome Education by government is a joke. Most poorly managed system it should be a teacher to student system like my mom has it! Her students say shes the best teacher they've ever had!

[pauloolem]

@wtfjaftw say that to the swedes the finns and other scandinavians, they pay higher taxes than you ll ever do and yet they are some of the most educated people in the world!

[wtfjaftw]

@pauloolem Yeah, education of what? Giving people intellectual skills that are not intellectuals. And most of that information is propaganda. And look at the bigger picture, they are paying for a system with taxation they cannot afford, so they have to import immigrants, thus killing off the civilization, IT'S SELF DEFEATING! And they needed immigrants so bad they gave them free stuff, and expected them to work! What a joke that system is, give your head a shake.

[wtfjaftw]

@pauloolem Not to mention, the only reason why it is any better because of more choice and freedoms, to where to go to school, the American education system is very bureaucratic, the government controls it, it's centralized, regulated and your only at the wills of the power that be. I know I lived through it. Your only proving when you at more liberty you will accomplish that much more, not less.

[paulineprojectlove]

Teachers I know are always spending their own money on their students buying supplies for their classrooms or even students. When I was student teaching I spent my own money on students who couldn't afford to buy binders...And I wasn't even getting paid to student teach.

I don't think he knows what he's talking about. He sounds selfish.

Americans are not selfish, we are noble and sharing.

Our public schools should NOT be funded through property taxes that discriminate against the poor.

[owenhunt]

@paulineprojectlove His views aren't actually directed at American interests, but for the wider world. He was an intellectual with both conservative and libertarian beliefs; he wanted his view to spread through every pore. You are most right, however.

[jeff30458]

@paulineprojectlove lol can you explain to me how property taxes discriminate against the poor? That's one of the few taxes that I think actually isn't biased against the poor. Most people in poverty are renting, so they don't even pay property taxes, so their children are being educated on someone else's dollar. I do however fully agree with you about the teacher's paying for things. My wife is student teaching and she's constantly spending money on the students and like you she's not paid

[rockhardxrocker]

He's not saying education shouldn't be "free": look at his neighborhood effect argument. He's saying people should spend their own money/vouchers as they choose to economize.

Also, he left out this other part of people spending other people's money on other people; usually the spender usurps the money for themselves, and take their middle man cut, as do lots of bureaucrats.

[hanness91]

This guy is so full of bullsh*t, he's trying to justify that education shouldn't be free, which leads to that not everyone has the same opportunity to educate themselves. You can see that after 2005 in New Orleans that privatizing schools was not a good. And many african american parents thought of it as a way to reverse the gains of the civil rights movement.

[carolm62]

@hanness91 Education is not free. It's spending someone else's money!

[wtfjaftw]

@hanness91 You says its not good giving no proof? You just said it reversed civil rights? If its happening to every-one including blacks how is it reverse the effects of civil rights movement? Don't you know its government is still discriminating blacks today with the drug-wars why trust the government in educated them?

[AroundSun]

Left leaners and anything NOT in the constitution is not only immoral but is impractical. Isn't it funny how the two must coexist? What is moral works in practice too. What is immoral does not work in practice. Socialism is force, just as Friedman says. Anything not voluntary that involves force and coercion is against freedom at its core. Capitalism ,the free market, and freedom from government is not only moral but has been proven in the past 200 years to work the best for most.

[kwark1223]

For those that are intellectually inept, Friedman is explaining why there is so much waste the education system, social welfare, and healthcare.

Great teacher.

[jbranstetter04]

This explains 'one' of the reasons why our health care costs are going through the roof. How much money should be spent on our health care? Answer. As much as you want to spend. And that is why we need to disincentivize businesses from purchasing their employees health insurance. If it is the actual consumer of the health care purchasing the insurance, then the price will be as low as possible. Also, the purchaser will only be buying what he wants covered and at what limit. It is simple.

[justin39ify]

Why is this old sack of dust talking to me? lfao

[qtbeauty95]

whats the point of this??

[mourantell]

@TheHistorianX You misunderstood my position a bit, I don't think helping each other every now and then is for emotional benefits, although if it provides that then it's profitable to do so. The reason you help is because it is profitable for you. That is when the benefits of you helping him extends the cost of it. The storm destroys the homes of millions, they become homeless, lose their job, don't pay taxes don't consume that will hurts business, they commit crimes etc. Are you better off?

[TheHistorianX]

if We Implement a System of "To Each according his Need" Then We Would Be Competing Not on Who Could Do a Better Job But on Who Could Do The Lousiest,

and You Wouldn't Be Expected to Pay For The Best Product But For The Neediest Producer

and Why Would a Producer Be Needy??if t Arose From incompetence then Why Would i Pay Him?? if it Arose From Dire Circumstances (market failure,defects etc...) That His Competitor Managed to Escape Then His Competitor is Clearly more competent

[TheHistorianX]

if That is Your Position

Do These people From Third World Countries Expect Me to Feed Them ??

Am i a Slave To Their Needs? and Let's Say That i Do Out of The Goodness of My Heart Decide to Give Them Aid (as The USA and Numerous other Western Countries Do) Then What Would They Do With it??

From My Experience As a Nubian Sudanese i Would Tell You That They Would Extend Their Hand For More Expecting Me to Provide Them With Their Necessaries because they Need Them As if Need Justified Claim

[TheHistorianX]

I think i Understand Your Position , Correct Me if i'm Wrong

You Say That i Could Help Those in Need Because That Would Benefit Me Wether Because Their Gratitude Would Force Them To Help me Later Or Brings Me Emotional Benefits Such as Helping Someone Close to me

And That in The Long Run a Society Where Everyone Helps each Other Advances Like How Ants Form Bridges To Cross Water , is This Your Position?

[TheHistorianX]

What Claim do The Poor Have upon My Money,The Result of My Work?

Does Need Automatically Give a Man The Right to Another's Wealth?

Then what is Need? is The Jacket i like and Want to Buy By My Own Money Less of a Priority Than a Hobo's Food??

You Will Say Yes Because You are Willing to Throw Yourself at The Mercy of The Loafers and The Needy, I Say No Because i Do Not Put Myself at Anyone's Mercy Nor Do i Require anyone To put Himself under Mine

[VeniVidiVid]

"But why is that poverty is still to high in the world when we have the resources and technology to eliminate poverty?"

Because of thinking like that. *We* have the resources? You volunteer resources you don't own. Freedom and the ability to keep what you make is the recipe for prosperity. Taking what is created by others and supporting barriers to production and trade is what keep billions poor.

[EmmaYaBasta]

you ignore the fact that i diffused my claim to authority by restating yr insult. Why do Americans have difficulties understanding freedom? Is this the source of their hatred of democracy (that, and widespread cultural amnesia)? What Paul Valéry says about freedom could also be said about "democracy" and "liberty" in the mouth of neoliberals: “C'est un de ces détestables mots qui ont plus de valeur que de sens; qui chantent plus qu'ils ne parlent...”

[EmmaYaBasta]

Neoliberals believe themselves proponents of what they call “freedom” (ignoring the fact that this ALWAYS implies exceptions and limits) and argue that if certain (usually U.S or white or already wealthy, pro-capitalist/-imperialist) individuals are permitted to accumulate wealth, they will have enough influence (i.e. capital) to force the government for more “liberty” (i.e. more inequality). They even go so far as to claim that this is happening in China (!). See newpol.org/node/88

[EmmaYaBasta]

Norberg's attitude is crass and prejudiced. När människan skapade världen expresses a frightening lack of understanding for non-industrialized cultures whose homes are occupied by western companies like Skanska and unscrupulous oil giants. Because, in Norberg's world, human history has consistently been a "story of bottomless misery" - a perspective that is not only ignorant but also leads to lethal ethnocentrism when adopted by large companies seeking to justify their rapacious behaviour.

[Astro1645]

Unfortunately most politicians follow John Maynard Keynes who was a Socialist. Keynes advocated big government, big taxes, and massive government spending to get out of recessions which is what FDR did and made the great Depression Great and 10 years long and it's what Obama has been doing - how's it working? It never works, never has.

[EmmaYaBasta]

Friedman in reality was among the most vulgar of bourgeois economists promoting policies that reinforced objective trends within world capitalism that have increased poverty, squeezed the middle class, and widened the gap between rich and poor. Friedman chose his battle, against Keynesian economics, and made his devil’s bargain compromise, with the power of the Fordist state, and we have paid the price for this politics.

[jamo387]

@EmmaYaBasta Anywhere Professor Friedman's policies are followed there has been relative prosperity. Like most lefty's, I think your just talking out yer ass.

[EmmaYaBasta]

Like many "lefty's" [lefties], i have a PHD in Political Science (and publish and teach on related topics).Though i may well be "just talking out of [my] ass", i can confirm that Friedman's policies have precisely NOT brought about "relative prosperity" (prosperity for the ruling class, no doubt). Take Chile: see Joseph Collins and John Lear, Chile's Free-Market Miracle: A Second Look, Peter Winn (ed.), Victims of the Chilean Miracle, Elton Rayack, Not so Free to Choose.

[jamo387]

@EmmaYaBasta I can't think of anything more useless than a PhD in Political science. You may as well have gotten it in basket weaving, at least then you'd have some nice baskets in the end. Check out Johan Norberg's defense of Friedman's letter to Pinochet. Friedman promoted free market economies wherever he went. He was a proponent of freedom and he knew that if individuals could accumulate wealth, they would pressure the government class for more liberty. This is happening in China as we type.

[salasporsiempre]

@EmmaYaBasta I live in Chile, is any other country better than this on sudamerica?? The gap btw rich and poor is insane, but we live better than any other sudamerican country, they come to work here. Not flawless but it's ok. nothing is perfect, we are judgin 30 years latter on our chairs what was decided in a "civil war" on santiago.

[cesarojas182]

Fucking asshole , good thing that you are dead !! you brought so much pain to the Chilean people. The stupidity that he is explaining is for the capitalist system that we live in. The they the working people abolish this system this 4 ways will not make sense

[wtube502]

@cesarojas182 he gave the same speech in yugoslavia, china, and chile. the economic recoveries of each of those countries are directly proportional to their following his advice. before following his advice, chile had 150% inflation and no gdp growth. after following his advice, inflation never got above 35 and has been in single digits for 15 years. nice way to say thanks.

[cesarojas182]

@wtube502 at what cost?? do you know the inequality in Chile is greater now?? How many Chileans had to die to implement his policies? do not be an idiot and read the history of Chile

[wtube502]

@cesarojas182 i know that poverty was 40% and is now 13.7% of the populace. also chile currently has the 2nd highest hdi on the continent. is has the lowest ranked government corruption in south america, and just joined the oecd a few months ago. sounds pretty good considering the circumstances. just because someone has a lot more money than someone else doesn't mean anything is wrong with the system.

[cesarojas182]

@wtube502 If someone has lot more money while there are children in this world who are dying for starvation I have a problem with that. While in this world someone is driving a luxury car while a child is walking without shoes I have a problem with that. When a Child is working in a sweatshop while the owner is getting richer I have a problem with that. When a country invades another country to takes it resources I have a problem with that

[MulligansValley]

@cesarojas182: the practical eventuality of your logic can only lead to all people being as miserable as the most miserable person. Unless, of course, you or some other angel, arbitrarily and subjectively decides what the appropriate level above misery should be.

.

Would it be appropriate to make luxury cars illegal? Owning a non-luxury car is still an extreme luxury compared to the means of transportation of a starving child in the 3rd world. Where do you draw the line?

[cesarojas182]

@MulligansValley You have to put people before Profits. When we buy cloths made from sweatshops we are contributing the exploitation of humans by humans. There is not a magical # that would say when you are allow to drive a luxury car. But why is that poverty is still to high in the world when we have the resources and technology to eliminate poverty?

[mourantell]

@cesarojas182 You do realize that the money you spend on leisure a year would be enough to provide food,clothes for numerous third world families, yet probably you still spend money on having fun or to have a comfortable life. When you say you have to put money before profit then the question is, are you doing it? How much would you sacrafice from your quality of life to eliminate poverty?

[TheHistorianX]

@mourantell  i Would Answer The Question With This : None i Would Not Spend My Money for the Sake of Others, as I Would Not Ask Others to Spend their Money For my Sake i Live for my Sake and My Sake Only it is Not My Responsibility That my Neighbor Feed his Children, it is His Own just as it is Not His Responsibility to feed Mine

[mourantell]

@TheHistorianX While I accept that opinion and I doubt that the "people before money" crowd would actually sacrafice most of their standard of living for others I think 'none' is a bit too extreme. We already do spend money on others through taxation and there are benefits of helping those who get into tough situations against their will or actions, but it is that benefit itself why there is no point being against profit maximalization. In the long-run helping each other is the efficient way.

[cesarojas182]

@mourantell WE do not need to sacrifice shit !! There is enough of resources for food, cloth, shelter !!! for everyone !!!! The problem is the capitalist class has accumulated the majority of the wealth for themselves and the rest of the world is suffering for that reason. Humans do not live with charity they live from their work. Charity is just away to make sure some humans are controlling other humans

[mourantell]

@cesarojas182 Well on one hand it's always easy to spend someone else's money. I don't need to give shit, but those guys should. That's what the video was about. On the other hand they do give money to others see Warren Buffet, Bill Gates, etc.

Charity can be harmful if done in the wrongway and when it only creates an addiction to aides, but if it helps people to be effective and self reliant then it is benefitial.

[TheHistorianX]

@cesarojas182 You Speak of Wealth as if it is a Static Quantity Which Cannot Be Obtained unless By Taking and Diminishing Another's Wealth, Then You Clearly Do NOT understand Capitalism

[edsanville]

@TheHistorianX Oops, accidentally voted this comment down when I meant to vote it up.

[famboyantjoe]

Milton Friedman is absolutely amazing!!.. I just bought is book--free to choose.

[shanepaulcoward]

The best way to spend money is to take huge sums of it from the masses, without their consent (usually called robbery), and tell them you have to support the financial system with it. Puts the workers under pressure and makes them work harder and more efficiently for less money. F****g great - nice one Milton - a real people person. . : )

[jamo387]

@shanepaulcoward You are describing Obama's policies to a "T". Crony capitalism is what it's called. Goldman Sachs, Fannie and Freddie, GM. Obama is pretty much the antithesis of Milton Friedman. Unfortunately there are few willing to call him out on it for fear of being called "racists". Fucking shame what has become of this once great republic.

[kbr2001]

Yea, I really needed to see this in HD

[Lordgeek4]

I wish he was my Grandpa

[J0hnnyD1ck]

So simple but yet those socialists don't get it.

On a rally here in Germany, a Leftist politician said: "Neoliberalism has caused more deaths then National-Socialism." They really believe it...

[HungDGunn]

Why aren't kids taught this early in school? I loved economics in college, but that was the first time I encountered it.

[sakamya]

@HungDGunn Well, that would be very biased and disingenuous - to teach kids about free markets from the start, rather than presenting them with both sides and letting them decide which side of the debate (government or no, taxes or no, free markets or regulated markets or a planned economy, public or private schooling, Capitalism or Socialism) they choose to take. They should learn economics, but the fundamentals and what each side believes.

[pietrod1221]

ingloriuous bestard

[adamish1134]

Too bad neoclassical economics is garbage and has missed three straight bubbles and the biggest economic disaster in almost a century. Any other "science" that only explains things after the fact would be laughed away. These idiots have been hiding their theory in math for 50 years and getting away with it, I can't wait until the post-autistic economists destroy this idiocy.

[veegta83]

@adamish1134 This applies to all economics even keynesian. Economics isn't a science is a social science. Its about modelling human behaviour. There was no need for the crash to occur NOW, if we all believed prices would keep rising. Thats why its so difficult to protect bubbles and crashes. Also its govt fault for forcing banks to lend to those without equity and then bail out the scum bankers who took risks becuase they knew the govt will bail them out.

[J0hnnyD1ck]

I really would have liked to meet this great economist.

[bibihest]

He is so right!!

[jtlashle]

I would have to agree about his view in pubic education. Teachers are not spending their own money on the students its money from the county taxpayers/

[andjack]

So, still private school teachers still spending someone elses money, unless they are the owner.

And private isn't all good, as lots of people think. If so, explain why those big bonuses is so good that the banks was giving out? There is research that shows that bonuses is ONLY good on SIMPLE things that you don't need to solve problem, like putting stearing wheels on cars. If you need to solve problems, bonuses make you performe worse!

[Britthimself]

Moron. A private citizen freely giving money to a private school is a good thing.

The government taking money with force and then giving it to public schools is a bad thing.

Got it? Coercion is bad, freedom is good.

[andjack]

Stop calling names and answer the question instead.

You are not christian, are you? How come that you don't want to help the more unfortunate? Most efficient isn't priv donations. They are usually to small.

No I don't get it. Competition is good, yes. But that doesn't say that publicly founded things are a bad. And that doesn't need to be the only way of founding some things.

To every problem there is a beutifull, simple and wrong answer. This video i about one such simple sollution.

[Gregory1972Hunt]

Private school teachers aren't spending someone else's money. They're being paid by parent's. Parent's are spending their own money on the best education they can buy, and the private school teacher's are accountable to them. The public school teachers are not accountable to the parents or the children they are teaching; they are accountable to the government agency that is employing them with taxes collected from the same parents by coercion.

[andjack]

Private and public school teachers is all accountable for what they do with the children to the parents and the children. I do not know why you think something else.

Private teachers is also accountable to their employers, as public teachers are to their employers.

You have to come forward with another argument. There are simply not any differnce.

There is other issues, like mono social cultures in public and private schools that makes a difference, and difference in resources to the schools.

[Gregory1972Hunt]

Public school teachers are only accountable to their superiors in the government; they are not accountable to the parents of the children they teach. Were it not so, bad teachers would be fired with great regularity. They are not. Private school teachers are accountable to the parents directly, who can remove their children to another school or demand the teacher be replaced. They are paying the bills directly; Their money and their product.

[Britthimself]

The fruits of my labor belong to me, not to anyone else. I can freely choose to spend my money on education for my children. That is morally right. It is morally wrong to steal, and taxation is theft, no matter what "good" is done by the thieves. Government relies on taxation, which means it is evil. A necessary evil, yes, but still evil. Which means that the function of government should be restricted to things that cannot be in private hands.

Do you understand?

PS I am an agnostic.

[andjack]

Ok, If you are agnostic, then I can understand your loss of empathy without hypocritical standing in this issue.

So, you think that military, police, justice should all be private?

No, the state, government, is not a theif. It is a way of setting up a human world where we take care of each other, when fellow humans have problems they can't handle themself.

But I see that your world view is totally unhuman, so I see no use in continue arguing with you, Britthimself.

[RoosKarl]

communist!

[andjack]

Namecalling only shows that you have a por education and have not the brain to formulate some argument to try to express your thoughts in the subject.

Hope this is an answer to your question(?), RoosKarl

[Gregory1972Hunt]

andjack, is English your first language? Because if it is, you are hardly in a position to claim anyone has a poor education. Your grammer and spelling are very bad.

Chucking out an insult about another person's education is not an answer to a question. Here, let me fill you in on a little something that maybe you missed in school:

The 20th Centruy.

Read about it. A long series of very bad events turning around one profoundly bad idea. Marx' Utopianism caused the muder of 10s of millions.

[andjack]

I was in a hurry, so I didn't check my spellings before posting, sorry about that. English is not my first language, and I am a university teacher, and no English is not my subjects.

I cant see what Marx theories have to do with this. It isn't like I argue for communism, despite what some here seems to think.

[RoosKarl]

A por education? Haha. Which one of us are the one with the "por" education, maybe the one that can't spell? Enough word-fighting. I have more important things to do, like earning money which later on will be stolen from me by socialism.

[karizma249]

@RoosKarl greatest comment ever

[BrodieLewin16]

@RoosKarl "the one that can't spell"

Someone misses an 'o' in 'poor' and their point of view is instantly invalid? Ever heard of typos?

I am sick and tired of seeing arguments involving who can spell better, it doesn't mean shit who spells better unless that is the key focus of the argument.

I can spell the word 'poor' and you can't so everything you say is incorrect, the fact that I knew what you mean immediately doesn't mean anything though.

[RoosKarl]

@BrodieLewin16 Ok.

[Gregory1972Hunt]

andjack, are you implying that forcing an man to pay both for his own child's education and someone else's child as well without regard to the quality of that education or the capacity of that single man to earn his own living is somehow displaying empathy? I think perhaps you do not understand this word. Theft and coercion are not empathy. Empathy and greed do not have the same meaning.

All taxes are theft. Your inhuman argument to the contrary is cruel and displays an ignorance of history.

[andjack]

Why do humans form states?

Isn't it to be able to help each other solving problems we can't solve individually?

Most people can't solve education and health care by themself. Not to the levels needed in our modern times. So that is why we should help others out. There are science studies in different areas that shows that this is better for all, like a minimum health care, education, salary etc. Both for those who pay more taxes than they (for the moment) uses and for those who recieves more.

[coosoorlog]

Private property is theft, mostly necessary I guess. same goes to taxing, as a principle.

[hiphopsocnroc]

You think the income tax pays for schooling? Next time, go and look at your property tax bill and see how the schools are funded.

[VanillaShroud]

Are you replying to a comment that was removed?

[TheTrollMallet]

What's the difference? It's still YOUR money!

[grraadd]

simple and truth - great man

[picapauengracado]

Simple yet powerful heuristic on incentives. Friedman was a superb educator.