Sunday Economics Lecture! Milton Friedman Discusses Economic Morality Issues.

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.

Cross Posted from Musings of a Mad Conservative.

Load Previous Comments
  • Dr. Arthur W. Carpenter

    "I'm not a conservative, I just want freedom!"  This is from memory a quote of Friedman's in the first clip.  The forced behaviors due to ever larger government, these lost freedoms, rise from individual choices to take from government that which it must ultimately steal from us.  Enough! 

  • Monica Babcock

    Milton knows what he is talking about. I had to read some of his work for my econmics classes way back when. he knew what he was talking about then just as well as he does now. the left thinks it knows more than he does and they don't.

  • Phil McConathy

    Too bad a majority of Americans have NO clue of economics and how it really works. Our failed education system over the past 50 years has finally caught up with us old timers who actually received a good education in the old days of the 40's, 50's, and early 60's. Question is "Will America wake up in time to avoid the looming decline"? I guess we will find out on November 6, 2012!