Free to Choose - vol 02, 1980

See the entire video at www.ideachannel.tv
Government planning and detailed control of economic activity lessens productive innovation, and consumer choice. Good, better, best, are replaced by "approved" or "authorized." Friedman shows how "established" industries or methods, seek government protection or subsidization in their attempts to stop or limit product improvements which they don't control. Friedman visits India, Japan and U.S.

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• planning
• innovation
• industry
• ventures
• business
• milton
• friedman
• economics
• freedom
• capitalism
• choice

[SuaveSavant]

@CosmicFork

Booms and crashes are symptomatic of gov't intervention. I believe it was John Stuart Mill who said, when a society directly attempts to help the public, it fails. It's only when freedom is preserved and each looks after himself that everyone benefits. That may be counter-intuitive, but I plead you to look at the results of the two courses throughout history.

Go run back to MSNBC culture where you can waste oxygen and not ever be challenged on anything liberal.

[SuaveSavant]

@CosmicFork

How the fuck is that any different than the results you see of capitalism, increased standard of living, and decreased cost of living? Did you fail econ 101?

Assuming it is different, how does this radical change in human nature occur? Gov't "resocializes" us? Do you actually believe sins can be socialized out of a gene pool?

What a farce.

[Rossg1981]

you meant phenomena not phenomenon idiot

[kyufa]

Hasty generalization = FAIL.

Go read a book.

[kyufa]

Hasty generalization = FAIL

[chopin8826]

money is the consequence of harnessing our abilities and putting them to good use. There is nothing evil about it. And if you knew wealthy people you would know that they make the money work for them....

[CosmicFork]

I am not advocating our present economy that is based on Greed and Artificial Scarcity. I imagine that in the future, we as a species, will live in sustainable abundance... (although I probably won't live to see it.) As strange as this sounds, in the future we will probably NOT work for money. We will work to improve ourselves, our abilites.

[anthonypesce]

I think it is you that has a very narrow view of what "wealth" is. Do I not gain satisfaction by CHOOSING to help a brother in need? Do I not build wealth in my community when I produce benefits to my brothers and sisters? You and your ilk still exist in a reality of scarcity while free men build abundance.

[CosmicFork]

josefomanu said; "This economist had a very narrow view of life." You're right josefomanu. The psychology of the purely economic man is an extraordinarily simplified psychology. There's no subconscious, there are only two sentiments or drives that an economic man has. Number 1; he is desirous for accumulating "Stuff", Wealth, and Number 2; he looks for maximum satisfaction, i.e. utility. Those are the ONLY two emotions he has. There is no spiritual, no sense of giving, no gratitude for a gift...

[CosmicFork]

(Continued from above) No sense of working together to help the community. Nothing. Just accumulate wealth, and look for maximum utility or satisfaction. Now, these two emotions are the ones that drive the entire equation of our present economy. Nobody has revisited or questioned that humans are much more complex than this, and that's why we have "funny" phenomenon, things like "booms" and "crashes". Yet, this is the economic system that Friedman is praising?