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Milton Friedman PBS Free to Choose 1980 Vol 2 of 10 The Tyranny of Control

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Published on May 9, 2012

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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Comments • 68

spec24
I always base my economic arguments on films like Rollerball.
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Sommer57
Wow. Donald Rumsfeld looks completely different with hair.
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Da Choppah
The Union Exec got his every wish the next 30 years. Restrictions on Competition.  Govt regulations on steroids. Super high wages for unions.   Result ?   Detroit.  US Fed Debt at the time of this debate was well under $1 Trillion.   2014 = $18 Trillion.  Friedman was correct as usual. Hopefully future Generations will follow his road map.
Influence Freedom2
The level of courtesy and intelligent discussion they had, is something we lack in the programming of today.
IndiaRockLovers
those in the west don't know how difficult it to do business in india its as difficult as defying gravity.
Da Choppah
Economics is a Math problem that takes decades to play out. Friedman was spot on. Look around us.   He gave America no better than a 30% chance of derailing a Socialist future.  We are now somewhere around 60% Socialist- with our 2 Parties < Thelma & Louise > racing towards the cliff.    Socialism fails every time because the Central Planners want to spread out the wealth but not the workload. This corrupts the  entire system. We now have a free-for-all in the Fed Govt.
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PenguinProseMedia
Rumsfeld's comments on the affect of anti-trust laws on creating chaos and uncertainty for businesses, how anti trust continues to stifle innovation and actions that would help the consumer---these comments are if not equally but more true in the 21st century.
mclaren855
Milton was in a league of his own, the others guys don't even come close.
Dallas Wood
The first time I've seen Rollerball used in an economic discussion.
Денис Успешный
DONALD RUMSFIELD, ladies and gentlemen....WTF????
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