In this archival Free To Choose Network footage, Milton Friedman takes Q & A at Stanford University. The classic exchange might as well have taken place yesterday. The young man’s questions get to the heart of tension between the values of liberty and equality — a tension that is still with us. Friedman dissolves egalitarianism by pointing out a simple fact: wealth redistribution creates state power elites, not equality. And the fact of coercion remains.
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@DedPeasant In actual fact, the correlation between the adoption of capitalism to a greater degree and prosperity is HUGELY positive. While every economy is a hybrid the results are precisely the opposite of what you claim. Capitalism has been the direct driver that has lifted the living standards, particularly for the poor, over the last 300 years. The historical evidence that capitalism is superior to the alternative is unequivocal.
Socialist countries across the board are better including America.. The only aspect we do not enjoy is free health care. The examples you can give of a true Capitalist system would be??????????
And where is that Capitalism in action that is advantaging and lifting up its poorest at an equal or near equal rate?
This is all presupposed on Milton erroneously declaring that all of history shows this clearly as the best system? So you’ll need to know all of history to contest this.
There is much more upward mobility in capitalist systems than in any other system. Socialism makes upward mobility virtually impossible.
it’s a pain to watch that poor kid
Not to mention democracy which as is said, is two wolves and a lamb deciding what to have for dinner
amen!!!!!!
We have perverted the meaning of equality through what most of its modern proponents demonize so passionately - greed. The covetous desire to have what belongs to another has driven many today to forget that the true nature of equality means that all rights are equal; a man’s rights to life, body, and to his property are no more or less sacred than those of his neighbor. The 14th amdt further clarifies that equality is to mean that all are equals under law, with no prejudices, including status.
@hayden50 Lol, the way he is thinking? I bet you are right… The way he is dressed? Looks like he seen an old Che pic doesn’t it?
@SuperGuitarman69
hear hear!
At 1:28 he answered his own question.. In a free market, an individual is the only obstacle to becoming wealthy or not.. In a crony capitalist system like ours where regulation is staggering and start up costs to businesses are almost impossible due to restrictions all over the place, yes there is a severe disadvantage, so government is the obstacle.. Perhaps he should sit quietly in a corner until he grows up enough to have common sense and give up the bs Stanford education.
That is the major problem with social engineering, who gets to decide who gets what. But, Friedman has it right 57Kilo and Fountain, under your idea of equality A&B get to decide what C gives D, and they take a commission along the way. Let me clear that up for you a lil seeing as how you probably didn’t take any Calculus. A is the Gov’t, B is the bean-counter, C is the Tax-Payer and D is the Democrat. Got it now ?
@IvanillathunderI
It’a amazing how few people understand the historical role of technology, driven by free markets, in mitigating scarcity.
so basically this world is full of cocksuckers .
@57kilo
“suprised by the applause”
Me too. Unfortunately, in today’s climate I believe he’d be “booed” out of the room before even making his first statement.