Milton Friedman - Socialism vs. Capitalism

Economist Milton Friedman taught Donahue a lesson when Phil attempted to equate greed with capitalism.

Friedman regards free enterprise as the best economic system ever developed by civilization and cites history as the proof of his contention.

Milton Friedman, 1912 - 2006

Category:

Education

Tags:

• Milton_Friedman
• capitalism
• greed
• socialism
• free_enterprise
• Pelosi
• Reid
• Geithner
• Obama

[jbranstetter04]

It is simple. Without incentive people will not achieve. And if taken care of, people will become lazy and useless.

[bctvguy]

@jdgrab1 - Can you substantiate that factoid by citing a source? It sounds very unlikely.

[bctvguy]

@Terje1337 - Yes it would. Frank Wells from Warner Brothers was the real deal.

All Eisner did was market what the Disney Brothers and the creative geniuses Disney gathered had already made in the previous 50 plus years.  The animated features were made. The live action movies were made. The Disney TV show had been on for 30 years. Disneyland was almost 29 years old. Disney World was over 12.

Anyone with a marketing degree and a good intellect could have done it and for less money.

[Terje1337]

@bctvguy Do you think Disney would be what it is today without Eisner?

[wwwE5150com]

@blkswimmer Amazing how you contradict youself within the same sentence.

[tdetko]

@atosafi1 - The prosperity you described is all due to economic freedom. Rather than spread freedom to the rest of the world and raise their quality of life, you choose to lower ours by less freedom. You are out of touch with reality.

[tdetko]

@blkswimmer - Capitalism is great and doesn't need govt coercion to force employees to work or owners to hire. Capitalism is the absence of govt coercion you obviously don't understand what capitalism is. AND IF THERE IS NO PROFIT, ARE YOU ALSO IN FAVOR OF EMPLOYEES SHARING THE LOSS BY PAYING RATHER THAN RECEIVING PAY??? Go risk your home and all your assets and start a business and see how much you like the govt telling you how much you are allowed to keep. You dont know what Capitalism is

[TDSchmitz12]

@blkswimmer There are limitations in a capitalist society. The free market allows an emplyee the option to work for another company if they feel they are not compensated fairly. For comanies to survive in a free market and attract good talent they must pay a fair wage or they will go out of business.

[atosafi1]

If you have food in your fridge, clothes on your back, a roof over your head and a place to sleep you are richer than 75% of the world. If you have money in the bank, your wallet, and some spare change you are among the top 8% of the world's wealthy. If you can read this message you are more fortunate than the 3 billion people in the world who can't read at all.

This is capitalism in a nutshell.

Friedman seems to be out of touch with reality.

[Hopeful71]

A. Love the actual intelligent discussion as opposed to today's 5 second sound bite shouting match

B. Government programs created nuclear technology & the space program; by far the 2 biggest achievements of the 20th century

C. Keynes economics saved us from the Depression; not the free market (comparatively)

D. Capitalism has limits; FREE MARKET capitalism bears heavy costs

E. Politicians aren't angels but democracy CAN (not IS) be a far better compass then greed (in certain cases)

[DrHogfan]

Sit back Donahue Shut up and listen!

[ArborMate]

if africa would grow a brain, and band together as a single country with states...

and stop trying to produce second rate technology

and started importing "John Deere" stuff,

just by being a farming country, they would see a huge increase in their wealth, a huge decrease in their diseases, the size of the average african would grow, and more people in Africa would have jobs.

just by farming

and once they have money, then they can protect the wildlife and do something good.