Milton Friedman on capitalism

[HT Wintry Knight]

My friend Wintry Knight recently turned me on to an excellent American economist, statistician, and a recipient of the Nobel Memorial Prize in Economics, Milton Friedman.

Here is a short clip of Milton answering a rather pointed question regarding our responsibility to the poor wherein Milton explodes the myth that Capitalism and the free markets are somehow against helping the poor. Milton also points out in this short clip how most poverty and disparity in America can be directly traced to socialistic programs.

Here’s another video where Milton explodes the myth that Capitalism is inherently immoral or utilitarian by placing “the bottom line” above the value of a human life.

And finally, here is a video where Milton explodes the myth of that capitalism and slavery (or class oppression) are necessarily related. Milton also discusses how slavery is ultimately antithetical to capitalism as it ends up costing more and discouraging increased production or innovation.

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