Milton Friedman on Libertarianism (Part 1 of 4)

What are the elements of the libertarian movement and how does one of its most illustrious proponents, Milton Friedman, apply its tenets to issues facing the United States today? Milton Friedman, Senior Research Fellow, Hoover Inst., Nobel Laureate in Economic Sciences discusses how he balances the libertarians' desire for a small, less intrusive government with environmental, public safety, food and drug administration, and other issues.

This is a 4 part video. Here are the links to all 4 parts.

Part 1 - http://www.youtube.com/watch?v=0PaN9M4WwHw (7:21)

Part 2 - http://www.youtube.com/watch?v=KUDV0YII6lk (7:42)

Part 3 - http://www.youtube.com/watch?v=zhgy0ymD-NI (4:31)

Part 4 - http://www.youtube.com/watch?v=64mr-cjxZfU (5:59)

Use this link to watch all 4 parts back to back in one playlist: http://www.youtube.com/cp/vjVQa1PpcFNgJPmAJf6QfTiTZYOFo2hLronsqh_lzzs=

Milton Friedman, recipient of the 1976 Nobel Memorial Prize for economic science, was a senior research fellow at the Hoover Institution from 1977 to 2006. He passed away on Nov. 16, 2006. He was also the Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago, where he taught from 1946 to 1976, and a member of the research staff of the National Bureau of Economic Research from 1937 to 1981.

Recorded February 10, 1999. Please see the end of Part 4 for all of the credit and ownership information. I am posting this video to further spread the Ideas and knowledge of Milton Friedman. It is only through implementing his ideas that we will preserve that which the founding fathers established.

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[woofalot13]

That coal argument is so weak .

[woofalot13]

I am interested in this can someone tell me why most libertarians i meet online are out and out racists ?

[elijah108]

@keeperoftherealm THOSE GREEDY BASTARDS!

[eggory]

@LeoAutodidact Individuals should not refrain from defending themselves, it is just that the government is there to judge whether your use of force was criminally initiative or justly retaliatory, and to assist you if needed. It is a fine idea, and its only flaw is that it has rarely, if ever, been implimented. The use of force to override the consent of those individuals who produce wealth which would not exist but for their initiative, is what fundamentally does not work.

[LeoAutodidact]

@eggory According to Rand, the Government, or State, was to be the sole repository of the RETALITORY use of physical force. This was the "sole and proper use" of the government's police authority.

Individuals refrained from using their OWN right of self-defense, allocating the Government to do so ON THEIR BEHALF. (One cannot delegate an authority one does NOT posess) this was the source of government's Police power.

Sadly, history shows that this rarely, if ever, actually works.

[eggory]

Friedman makes Ayn Rand out to be an anarchist, which is the extreme brand of libertarianism, despite that she thoroughly disassociated herself from libertarianism as a whole with tough criticisms. She did believe that the initiation of force was always wrong, but that the government's role is to deal with those who do initiate it, to avoid the problem of competing police forces.

[chadimus84]

@rictorn why do you listen to a utilitarian about anything?....jk

[StAugustine79]

@shinobi38 You are incorrect. The US government barely followed Milton Friedman's advice. Dr. Friedman consistently lamented that his economic advice was not heeded. Free market enterprise does not benefit the rich, only monopoly generating keynesianism and corporate subsidies benefit the rich.

[shinobi38]

@tehatemachine Your wrong, he used Chile as an experiment and encouraged oppression. He chose Chile deliberatley because it was Socialist (Democratically so)and wanted to smash their Socialist economic system and universities. You should read The Shock Doctrine by Naomi Klein. Milton Friedman's influence was catastrophic for growth, but favoured by the US government despite not benefiting communities. It only benefited the rich.