Free to Choose Part 9: How to Cure Inflation Featuring Milton Friedman

[ACDC7369]

50:10 Hair of the dog that bit me....AKA Obama's stimulus passing the buck to the next generation. We will pay dearly for that in our next recession/depression

[torgyman]

56:37  , what's so funny? :(

[MrPeterl747]

@disquisition73 I'm glad someone else thinks the same of LSE!

[DREwestcoast]

I want you guys to pause the vid at precisely 38:16, and tell me in the eyes that this guy wasn't thinking in his crooked mind: ''Oh shit, He knows''...

[jedivish]

Everyone who's part of Occupy Wall street Ought to see this. Especially the discussion in the end. The point Dr. Friedman makes at 49:29 is nearly 30 odd years ahead of its time, its almost prophetic in nature. Based on what he's saying, the only individual I see today who's truly capable of affecting the kind of change required in our economic crisis is Ron Paul.

[barney5096]

@jedivish I agree completely, I think most if not close to all americans just don't know enough about this issue to make educated decisions about who to vote for. I agree Ron Paul is the only candidate to vote for because he understands these issues today and is honest enough to address them, he isn't concerned with saying lies to make people feel good but knows to get the country on the right course for the future means changes must be made even if it means a little pain in unemployment

[Jalreal]

@jedivish But, if Paul is elected, will our disfunctional congress help him to pass his ideas as laws? I don't think so, it's like saying Obama's 2008 slogan "Change." actually meant something. I support Ron Paul very much, but I don't think even he could turn around our system of crony capitalism into a true free market system.

[DREwestcoast]

@Jalreal it's up to the people to petition their congressmen/women

[dreamingWisdom]

@Jalreal Ron Paul also has the advantage over Obama in that he understands how and why these changes in monetary policy needs to be done, thus he is able to articulate and persuade congress not with sensationalism but with logic, reason, facts, and scores of historical examples behind his words.

[skydome29]

@dreamingWisdom Well Pauls platform has been actual saving, not lessening spending disguised as actual saving.

[stebecool]

09:15 - Screen door knowledge FAIL

[Ledhead2112]

30 years later and the debate stays the same. This is startlingly relevant

[stebecool]

I wish we could hear what Friedman would say about today's problems

[ChristopherAdderley]

@stebecool We can! If we apply his wisdom!

[barney5096]

@stebecool I think he would back Ron Paul 100%, luckily some people are becoming aware as Ron Pauls support is growing

[rugbyjefe710]

Isn't it ironic that this series was aired on PBS and funded by the Corporation for Public Broadcasting?!?! Also, I am down for pegging the tax rate to the rate of inflation. That would go a long way. I believe that we should end the corporate welfare state before we end the welfare state designed for people, flawed though it is. The subsidies government has provided to industrialists has been the greatest contributor to our rate of inflation and ballooning debt.

[ElJefer]

That's so cool, the Berlin Wall hadn't fallen yet

[nannyberries]

Learn from the mistakes of others, because you will not live long enough to make them yourself.

Make the mistakes so others do not have to????

[SFConifer]

Those chairs have angered the furniture gods

[AussieKen1972]

This video is so great and telling of our problems today. Instead of the federal reserve being independent and doing the right thing we have Bernanke and Obama partnering up, and playing politics. When it all falls apart in the end each side will blame the other. By the way, all the liberals will say capitalism failed and we needed MORE government for it to work.

[writereducator]

In the discussion section of this episode, one person talks and everyone else listens before responding. So different from episode 9.

[madscientistify]

u can never floor friedman on anything todo with unemployment and inflation.never! thats his area of expertise

[tatsumakisempyukaku]

Awe inspiring. As for making an updated version, well, I think most voters will be lost in listening to this. So an updated version nay be necessary

[bujo2k6]

there is no need for an updated version, humans have still not learnt from the past enough.

[kshoren05]

Milton Friedman is genius, it's unreal how similar the issues in the late 70s/early 80s are to what we are going through today.

[2dum2getsocialism]

@kshoren05 hahah-- because they have never been let alone to fix themselves; if we ever reanimated one of these cavemen we find from 100,000 years ago he would say the same thing "this shit's been going on forever"

[LogicalFlawDetector]

@kshoren05

Inflation is pretty low now. We have learned to apply Friedman's monetary theories to public policy. The problem today is excessive regulations.

[kshoren05]

@LogicalFlawDetector you sound like Milton himself! One of my Business School Professors always says, 'Get into politics or get out of business'. Let free markets rule.

[johnsurs22]

@LogicalFlawDetector Actually, both are still problems. The Fed changed the CPI so that it didn't look bad. The older CPI shows 9% inflation per year.

[rexkocur]

@LogicalFlawDetector

if you think inflation is low compare your bucks against gold price and you will have an answer

[obtree]

@LogicalFlawDetector Inflation is much higher than it is reported in the CPI and PPI, which are both engineered by the government. I recommend reading a book by Peter Schiff called Crash Proof. He devotes an entire chapter to inflation, and how it is misrepresented today.

[ElJefer]

@LogicalFlawDetector I thought real inflation today is around 9%/year. That seems pretty high to me

[zdrux]

@kshoren05 Like the saying goes.. people don't live long enough to learn from history.

[scottysmo88]

Fantastic series. I only wish there could be an updated version for the 21st century.