Socialism vs Capitalism: Milton Friedman.

An excerpt from The Phil Donahue show (1979) where Milton Friedman talks in short about Capitalism and Socialism and what impact it has on societies.
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.

Category:

News & Politics

Tags:

• Milton
• Friedman
• Socialism
• Capitalism
• Phil
• Donahue
• Greed
• Money
• Economy

[dimitrivegas1]

@arivas713 So true...

[pwuint12]

@AreaCode000 Yes. However. It entirely depends on the free 'x', because that variable is important. Free Healthcare results in higher taxes, mostly on the higher class and high incomers. Free things aren't paid for by the gov't, as most of the US public believes. The US public themselves pay for their own healthcare, and others healthcare. Free 'x' is always run by socialist policy.

[arivas713]

:- ( R.I.P Mr.Friedman please come back, We need your guidance now more than ever....

[AreaCode000]

@pwuint12 You completely missed the point of my comment. All of those programs were used here in America. I didn't even mention Europe. But I'm glad to see that you're not denying the fact that government programs can help the poor. Obviously America has no desire to end poverty "just because". Capitalism is only concerned with ROI. So it's not about "free everything" it's about using free x as an incentive to boost the economy.

[pwuint12]

@AreaCode000 Royal Charters is a very capitalist approach ; China is doing it right now [Since they are market capitalists]. The Homestead Act[of 1862] was also a Lincoln[Republican] Bill. This was used to further expansion, also to help the poor, but mostly expansion. You bring up the old argument of 'Everywhere else' when it comes to 'free everything'. Tip: Just because Europe does it, doesn't mean it's correct. The US isn't the most powerful nation ever because of free everything

[AreaCode000]

@pwuint12 Royal charters. The Homestead Act. Land grant colleges.

The New Deal. These are just a few of the government programs that have lifted people out of poverty. Welfare on the other hand, isn't actually intended to lift people out of poverty. No one has ever said that and it's dishonest of you to make that claim. Only education can lift people out of poverty, which is why college is free or heavily subsidized everywhere else in the Industrialized World.

[unifiedreality]

@pwuint12 Actually no, democracy is a type of government and socialism is an economic theory. It can quite easily be argued that putting civic utilities in private hands is very undemocratic because it isolates those utilities from the majority.

[rocknroll19842]

@pwuint12 Then you go on to say that socialism has only been used on way, and never been used differently, seriously? There are 5 different economic models based on socialism that have been used in modern countries. Not to mention the 5 major classifications of socialistic economies. Then there are the socialist political movements that all have a different interpretations of the political philosophy of socialism. Should I keep going? you need to study your history, you are clueless.

[rocknroll19842]

@pwuint12 Ok seriously, this is the last time I tell you this. I have already acknowledged that modern socialism is an economic system 50 times. But what you can't seem to get through you head; is that the Socialist economic system is based on a POLITICAL PHILOSOPHY. The philosophy of a society based on cooperation rather than competition. You even proved my right when you say "based upon the interpretation of states that have utilized socalism, has definition"... con't

[rocknroll19842]

@pwuint12 Government Bureaucracies don't lift people out of poverty? Go study up on FDR's new deal, and how it's new implimented government bureaus lifted people out of poverty. Not to mention any economist worth mentioning has said the new deal basically saved american capitalism as we know it, even milton friedman called the new deal a "lifesaver"... and guess what the new deal was criticized as being heavily influenced by socialism/communism. You need a history book, badly.