One of the chief arguments made by the growing number of Socialists in our country is the belief that the Free Market System is devoid of ethical behavior and indeed promotes people to treat each other as if all of man kind were criminal thugs just waiting for the chance to pounce on their fellow man. Unfortunately, the lens of history is crystal clear, and the actual results obtained paint another picture entirely. In this lecture given at Cornell University during the height of the Carter Malaise, Friedman tackles this topic and thoroughly destroys that argument, and here we are, 32 years after Jimmy Carter was so overwhelmingly fired by the American People, saddled with a President who gained power by selling the exact same brand of Snake Oil, albeit a much more potent formula.
My take-a-way argument: "Most objections to the free market system boil down to the adversaries of this system objecting to what people want for themselves rather than desiring what the adversaries think they should want instead." I want a car that is fast, comfortable, with air conditioning. The Leftists want me to want a car that is a hybrid and doesn't run on gas, is slow, small, and has no air conditioning.
The Q and A session which followed his lecture, in which he literally destroys the fallacies of the Socialists who attempted to counter his thesis.