Milton Friedman on Self-Interest and the Profit Motive 1of2

Why are "free market" and "capitalism" confused? There is a lot of economic activity that is parasitic. Like gambling, entertainment, porn, excessive speculation, etc.

Very large corporations have no stock holder with a controlling interest. When they fail or do evil can it be blamed on capitalism?

Milton's point about it works best if everyone acts in their own interest is intriguing. Take the case of a shoal of Sardines or a flock of birds beings attacked by a predator(s). They all swirl around as if one united body evading capture. However, studies showed that actually each fish or bird was acting independently keeping the perfect distance from its fellow so it would not be caught RATHER than all helping each other not get caught. The fact they all got scoffed has never been explained..

Wow, I love the way he controls the room. Polite, witty, and extraordinarily knowledgeable.

How lucky would you be to have had this exchange with Friedman

Hippies really should stop trying to speak in a scholarly manner.

On second thought, they should keep doing it so I have ample sources of humor.

because he lied to him watch the whole video

not charitable means they do not want to loose money just like the company.what a sad philosophy of liberal democracy
everything is cost related now that every one is in the shit let's wait for the invisible hand to come and feed your hungry mouths btw happy christmass

Luckily Ron Paul, the best american politician you possibly have, attacks this bullshit as well.And there are alternatives.
Such a currency, that is backed with commodity, or / and amount of labour.
(example.:Ithaca hour)
Rusting money, with negative rate of interest as well.:Theory of Silvio Gesell
(I know, its eccentric, and you are going to have a lot of questions, but read the Natural Economic Order, and the story of Wörgl..)

So true.
And structural problems as well.
1.We have to separate the political system from the indivials economical self interest, just like Montesquieu separated the three branch of power.
2.Brand fucking new monetary system.Credit - money system sucks like bloody hell, and it's the main reason of social problems, darwinistic way of life, concentrated economical power, being rich whitout productive activity etc....