Milton Friedman Tells Phil Donahue Why Socialism Fails

Milton Friedman Tells Phil Donahue Why Socialism Fails

Category:

News & Politics

Tags:

• milton
• friedman
• phil
• donahue
• socialism
• liberalism
• greed

[peter1592]

America needs to remember this man.

[mrthink777]

@filmcruiser88 It's not the athletes fault he developed a skill other people would pay hundreds of dollars too see voluntarily?

[fizzypopism]

It's funny that he quotes Einstein. Einstein was a socialist.

[mrthink777]

@Drbungholio actually if you unite all the social programs...social security, medicare, medicaid, healthcare,education etc...you would see that it was the social spending that got us in to trillions of dollars in debt...even though war cost money, I see that the government overspent too much ad used the wars to clean their behinds for the problems at home...OVERSPENDING!

[ProDCloud]

@filmcruiser88

We have that society its called the U.S.

[s0beit]

@neverfailyouagain Except you fail to note that while they're making toys for 60 cents, without that employment they'd be doing very hard labor in fields for 30 cents. Prosperity isn't instant, it doesn't come because you wish it to come and it certainly doesn't come from foreign aid, as we've seen throughout the late 20th century and up until today. It comes from people investing to build the infrastructure today to provide the means to make a better tomorrow.

[neverfailyouagain]

@Loomr

would you say turning a blind eye towards Indian children making toys for 60 cents a day just to earn a slightly higher profit being a little "too greedy". workers do produce the money for businessmen, but can you honestly say that they are getting their fair return. Now of course a businessman has to make profit, its not a choice, but that is why capitalism is flawed as a whole. a profit has to be made either by overcharging for a product or underpaying those making the product.

[Loomr]

@apologizingkiller

Yea but I'm also saying is that there is never anything wrong in businessmen being "too greedy". They can't screw the workers by being too greedy (unless you want to talk about safety regulation but that's another topic), because workers produce the money for business men.

They can't "not hire" people, because they will hire as many for as little money as it takes to make the service available for us.

That's why things are cheap. It's good for everyone.

[apologizingkiller]

@Loomr

But i do agree with you that jobs being replaced by new technology is a beneficial process and should occur in order for a nation to continue progressing forward

[apologizingkiller]

@Loomr

And how helpful will these cheaper products be when there are no jobs. Also many jobs are not replaced by machines but by cheaper workers. So while this is all fine why should we support these large businesses when they don't return the favor.