“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas

Tuesday, July 31, 2012

Where are you Milton Friedman?

Today would have been the 100th birthday of Milton Friedman, the world's greatest champion of free-market capitalism. With Obama trying mightily to establish an entitlement society based on redistributive economics, it would sure be nice to have Friedman around to show the folly of that. Here he is utterly eviscerating the squishy Phil Donahue....enjoy!



Isaac A. Nussbaum said...

It is hard for me to get all weak in the knees over Milton Friedman when I realize that his arguments gave us income tax withholding, argued for inflating the currency, and opposed a gold standard.

(See Gary North's, "Detours on the Road to Freedom: Where Milton Friedman Went Wrong".

Ed said...

Isaac, the 70's were a different time. Still, Friedman's general argument for free markets with as little regulation as possible from government is a good one. I'm not educated on the specific details of his ideas 30 years ago, but I'm not sure we can judge them based on their value, taken in economic conditions as they are today.

david said...

Best clip I've seen in a while. Thanks Ed.