Milton Friedman on the Basis of the Free Market

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Uploaded by on Feb 24, 2009

old excerpt from one Friedmans documentaries. Milton Friedman briefly touching on the theory behind what Adam Smith called the "Invisible Hand"
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VoluntaryGov.com

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Uploader Comments (VoluntaryGov)

  • I agree with you that the state should be libertarian in nature. Perhaps if government did not step in between the disputes of labor and business, there would be better and more efficient relations between the two. Also, wouldn't it be nice if there were a limit to the amount of lobbyists a corporation could send to Washington? Mike Huckabee has recently noted that their are 70 lobbyists per member of Congress. I'm still trying to figure out Regulatory Committees. They're more accountable in EU.

  • Well, I'm actually not only for a libertarian government. I am for any form of government that is voluntary. That does include Communist, Socialist, Theocratic, Monarchic, etc. This can even include Democracies and Republics if they are contractual and voluntarily chosen. What I disagree with is drawing imaginary lines on geographic maps and claiming to own land based on that premise alone. There exists many alternatives to land ownership than 'english commonlaw'...

  • For example, John Locke theorized that just land ownership exists only by mixing ones labor with nature, thereby creating a useable object of which responsibility could now be claimed.

    I just dont understand the morality in drawing a line across a map and claiming that because someone is born south of it they must obey a certain set of laws and beliefs, while those who were born north of it must obey a completely seperate set of laws.

  • There is a clear reason for the number of lobbyists. The business that don't purchase the coercive ability to use the gun from the government, will eventually find themselves facing it. When the gun becomes involved, mutually beneficial trade can kiss itself goodbye. Those who are willing to use it will always triumph over those who are not willing. The difficult thing to get people to understand is the solution is not to penalize those who hire the gun, but to get rid of the gun entirely.

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  • Actually, people buy huge amounts of shit products all the time.

  • @VoluntaryGov We maintain these borders to preserve our law and political system(corrupted as ours has become). If we were to get rid of borders everywhere, that would not necessarily be a good thing, as most of the world does not believe in the classical liberal principles America was founded on.

  • How can he be so stupid?

  • @rmcdaniel423 And what does "political" mean? Your politics are decided by several dozen factors, which may include your religion, your language, your racial biases, your gender biases, your place on the social ladder and what that means to you, whether or not you're educated...you see what I'm getting at here? They might as well be called "cultural maps" because so much of what is political is defined by your culture.

  • @smiledammit24 They are called "political maps" for a reason. They are not called "cultural maps".

  • @VoluntaryGov I know you wrote this comment like 11 months ago. I do find your position to be rather common sense, but these boundaries aren't exactly arbitrary. Nations (and their provinces) draw their boundaries based upon who lives within those boundaries--people with a shared language, religious beliefs, customs, political beliefs, etc. Those boundaries stay relevant because the governments involved usually regulate who can cross them.

  • He's 100% correct.

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