Milton Friedman - Greed

In his book "Capitalism and Freedom" (1962) Milton Friedman (1912-2006) advocated minimizing the role of government in a free market as a means of creating political and social freedom.

An excerpt from an interview with Phil Donahue in 1979.

http://en.wikipedia.org/wiki/Milton_Friedman

Category:

News & Politics

Tags:

• economics
• philosophy
• politics
• government
• capitalism
• socialism
• communism
• freedom
• donahue

[HorenziAndTheAlps]

Why is it people interviewing Friedman let this quak off the hook? He avoids the questions, makes referrences to fascism and athoritarian communism (even though neither were even brought up) just to make his point look good. There are plenty of people who can argue for capitalism better than this guy.

[swajnig]

It has been repeated over and over again that governments bureaus have not generated any great technological achievements. (But you may just as well say that a great achievement never has been made in the stock market!). But everyone should know the great role governmental institutions, such as NASA or DARPA in the USA, and universities and research institutes all over the world have played in technological and medical progress.

[FuckPropertyRights]

Friedman is totally right!

If I recall correctly, Einstein went on to found a successful private corporation. Einstein certainly had no funding whatsoever from the US government or any government of any kind.

Einstein was totally a product of, by, and for the private sector...

The problem with Milton Friedman was that he was just a professional sophist. Any smart high school kid could have destroyed the guy in a debate.

[skydome29]

@itscork oh of course, he's playing devil's advocate. Milt and Donahue were friends, I actually think he very much liked Milt's answer.

[itscork]

What's with Phils dumbfounded blank stare? Is he processing ANYTHING? Good lord, the lights are on but nobodys home!

[Mkvine]

I think Friedman would have supported Ron Paul

[Spindry96]

l think the behavior of Wall Street causing the global financial crisis can be clearly labeled as greed

[drsnyc05]

The word "greed" is another extremely vague and subjective term just like "fair share". What is greed? What is fair share? There are different views. Some people think fair share and greed should be applied to the rich simply because they have the money to pay for others.  Yet, some people believe greed is when you sit at home and collect welfare checks with absolutely no desire to ever work as long as someone else pays. These same people also pay zero federal taxes. Is that a fair share?

[tamerseeker]

The truth and the paradox we face, is that those among us that are not greedy also choose not to seize power or chase fame....it is most unfortunate.

[runi8]

fucking idiot... no, we are not all greedy... some of us choose life paths that are about changing the world for the better and not just accumulating money. and free trade only works after a period of protectionism. as if people just landed on the shores of america and only through free trade became what they are.