Milton Friedman Speaks: Is Capitalism Humane?

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12 жыл бұрын

Dr. Friedman speaks on the morality of capitalism.
The question is irrelevant. Capitalism per se is not humane or inhumane; neither is socialism. If we compare the two in terms of results, it is clear that only capitalism fosters equality and works toward social justice. The one is based on the principle of voluntary cooperation and free exchange, the other on force of position and power. In a free economy, it is hard to do good; you either have to use your own hard-earned money to do it or work hard to persuade others to your course. But by the same token, it is difficult to do harm because by preventing a concentration of power, capitalism prevents people from committing sustained, serious harm. Is capitalism humane or inhumane? It is neither. But it tends to give free rein to the human values of human beings.
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Пікірлер: 1 300

@GoreDefex1 4 жыл бұрын

Anyone else feel exhausted from obsessively watching things like this in order to arm yourself with tools to defend yourself in public against angry outraged people? Yet when you go to use these arguments, your exhaustion does not allow you to say much more than 1 or 2 things because you can't imagine having to explain the 1000 things you have to say to their 1 sentence?

@keithwilson6060 3 жыл бұрын

Cornell wouldn’t have him today. He would be shouted down and banned from campus by “protesters.”

@franciscobizzaro 7 жыл бұрын

In a twist of fate, I have come to realize that Friedman rebelled more effectively and radically against convention than the hippies.

@myndwork 5 жыл бұрын

Francisco Bizzaro i know, right? Fucking amazing, yet people failed to understand what he was saying, even though he speaks the language of the masses.

@tomj210 5 жыл бұрын

rebelled against convention by sucking up to power. okay

@geneharrogate6911 4 жыл бұрын

@@tomj210 How else _can_ one suck?

@TheProhypno 4 жыл бұрын

Big time.

@kimobrien. 4 жыл бұрын

@@tomj210 Exactly. Friedman went down to Chile to help out the military Coup d' eta made by the A&P butcher General Pinochet with the assistance of the CIA.

@jscquake 4 жыл бұрын

This lecture was given in 1978! He described exactly what is happening today 2019.

@koru615 4 жыл бұрын

Was looking for the date, thank you

@antrim7008 3 жыл бұрын

If Monetarism worked students wouldn't be protesting again. Too bad it didn't...

@4th19th2 3 жыл бұрын

When will you update it to 2020? Cause it is happening today too, like. my god.

@Jeff-nb8iy 3 жыл бұрын

2020 even more so

@brandonroberts13 3 жыл бұрын

This has been happening for well over 150 years.

@LarryBonson 11 жыл бұрын

Milton Friedman and Thomas Sowell rock.

@ClaudioCarmeli 4 жыл бұрын

Top top top intellectuals

@deplorableamerica4680 7 жыл бұрын

This is not just economics. This is philosophy.

@deplorableamerica4680 7 жыл бұрын

***** Go starve in Venezuela. ;^)

@lorenzmuller3542 6 жыл бұрын

This is so true. Good economists such as Mises, Hayek, Buchanan and also Friedman (except on monetary policy) have to have a certain understanding of philosophy, sociology and political science besides economics.

@shyzeke243 6 жыл бұрын

Smith’s original works were on moral philosophy

@Idalych 5 жыл бұрын

Deplorable America to be fair economics is just mathematics applied to philosophy :P all social scientists are philosophers wearing different hats

@GamePlayer775 5 жыл бұрын

Also because to be "good" at economics you need to understand how the individual thinks and behaves, and how a group environment affects said behavior. Behind the front of an economist lies an extremely awake human being in Milton Friedman.

@voltagedrop5899 4 жыл бұрын

43:02 "when you hear people objecting to the market, or to capitalism, and you examine their objections, you will find that most of those objections are objections to freedom itself. what most people are objecting to is that the market gives the people what the people want, instead of what the person talking thinks the people ought to want" absolutely brilliant

@turboplazz 4 жыл бұрын

Absolute bullshit.

@rogerward801 4 жыл бұрын

It's becoming a society of take care of me because I can't/don't want to

@bobolinkr 4 жыл бұрын

@@turboplazz adolescence is taking its time with you isn't it! smh

@j.m.s.5901 4 жыл бұрын

@@turboplazz triggered

@jacobrivera7302 4 жыл бұрын

turboplazz shut up

@cokechang 3 жыл бұрын

It’s 2020, I’d say his words and wisdom age quite well

@GreenIllness 3 жыл бұрын

LOL, yeah you know garbage like plastic for also age quite well.

@snorkelfish 3 жыл бұрын

Yeah if you’re a multi billionaire

@stoianstelian33 4 жыл бұрын

"We have made immoral behaviour more profitable" Imagine if he lived to see what social media became.

@sageoverheaven 3 жыл бұрын

Did he not? Iirc he only passed away around 2005ish.

@EnhanceRaptor 4 жыл бұрын

We've been talking about the exact same issues with the exact same arguments for the past 50 years. That's depressing.

@rexok163 3 жыл бұрын

Truly the dismal science

@mmganesh6087 5 жыл бұрын

he makes economics interesting.. i like his speeches very much... i never went to college. but , i never regret because i got great teachers via their books and speeches such as these...

@cupcaketape8007 4 жыл бұрын

you should check out Rothbard, you'd love it. As good as Friedman is here, Rothbard is even better.

@TobeornottooB 4 жыл бұрын

He isn't taught at college, be glad you didn't go to college, your much better off and more free because you didn't.

@mykelkashy 11 жыл бұрын

No kidding. I've been in Germany for some time now and there's always these anti-capitalism protests so finally I asked one of the people to define capitalism when he was done I was shocked, he just described fascism.

@ulflundman8356 4 жыл бұрын

Yes that is a fake that DKP german commies started under Rosa Luxemburg they claimed even the social-democrats of Weimar, to be fascists. and Stalin cntinued that lie building the Iron curtain against fascism.But fascism was created by the communistleader Mussolini, insired by talks with Lenin in Switzerland during WW1! So many commienbelievers wrongly think fascism is capitalistic, instead of a cousin of communism.By the way Hitler was a socislist., not a fascist!

@hm1734 3 жыл бұрын

It’s 2021 and we need this type of thinking more than ever

@BarbaraJoanneBJ 8 жыл бұрын

A clear thinker with the very rare ability to also speak with clarity. A gentle soul. A man for the ages whom I wish I had known.

@shadynail4723 5 жыл бұрын

May his ideas enlighten people for centuries to come

@robertjonesjr6028 4 жыл бұрын

No Milton is shallow and has little if any understanding of human needs or societal functioning

@nanioliveira1502 4 жыл бұрын

@@robertjonesjr6028 yet, he speaks clearly and seems to have a clear thought, don't you think? He can be wrong... But is wrong following a logic.

@j.m.s.5901 4 жыл бұрын

@@robertjonesjr6028 If you weren´t such a waste of oxygen and had an inch of humble curiosity, you would rapidly discover that Milton Friedman dedicated his ENTIRE LIFE precisely on the study of human needs and choices and their impact on others, the market and society. But don´t bother now, I am absolutely convinced you are unable to learn anything at this point of your life.

@IronCavalier 4 жыл бұрын

Robert Jones Jr LOL. 😂😂😂😂😂😂😂😂😂😂🐑🐑🐑🐑🐑🧟‍♂️🧟‍♂️🧟‍♂️🧟‍♂️

@BarbaraJoanneBJ 10 жыл бұрын

Oh how we need this man today!

@niklasbastholmhansen 9 жыл бұрын

When he died I was sad for days :(

@nlpr0077 6 жыл бұрын

The sad thing is that the lib, Hollywood and the media will shot him down.

@dorianphilotheates3769 6 жыл бұрын

Yes, we need more super-billionaires.

@daryldeborahelijoel.alvare2824 5 жыл бұрын

Patrick Bet David and his team.

@fin31337 5 жыл бұрын

Dorian Philotheates super billionaires create workplaces where other people can earn well

@Haannibal777 7 жыл бұрын

You can be for or against the ideal but listening to this clip and discussing in all classrooms of the world will do us good.

@ityukta7954 4 жыл бұрын

Power corrupts; Absolute power corrupts Absolutely!!! A great thought which was, is and will always be applicable!

@ulflundman8356 4 жыл бұрын

Yes and in Capitalism noone has such Power there are only influencers...

@j.m.s.5901 4 жыл бұрын

"When you hear people objecting to the market or to capitalism and you examine their objections, you will find that most of those objections, are objections to freedom itself. What most people are objecting to is that the market gives the people what the people want instead of what the person talking thinks the people ought to want." 100% TRUE IN ALL CASES.

@anilkanungo4417 7 жыл бұрын

Dr. Friedman is one of the greatest economists of 20th century whose insights educates us from time to time. His lectures are always a pleasure to listen to and has incredible sense of humour.

@TheDestruct0r 5 жыл бұрын

What he said in the beginning about Germany, collectivism and self destruction. He basically predicted the current state of Germany and the EU forty or so years ago. Talk about foresight and clear vision. Milton Friedman the oracle of capitalism. Seems like I have more Russian literature that I have to read.

@Ironrodpower 4 жыл бұрын

As do I

@TheSimonvdp 4 жыл бұрын

That book also explains perfectly the hatred in western society for marriage and the celebration of abortion.

@thatguynicky1979 4 жыл бұрын

Oracle, or, unapologetic intelligence? All this knowledge is out there, but he's actually acknowledging it, utilizing it, and actually applying it to his logic. It's too politically incorrect for most mainstream scientists, but a scientist that aims for political correctness, isn't a scientist at all. Anyway, I agree, around the sheeple, this guy IS Nostradamus! (My comment, tho in response to you, was aimed as a net effect, as you already get it.)

@vitorferreira6062 4 жыл бұрын

Germany is destroyed?... I DIDN'T GET THE MEMO!

@axellieb 4 жыл бұрын

You believe that the EU and Germany are in a state of self-destruction? LOL. Please look at the statistics before you speak. These are some of the richest and freest countries in the world. In fact , a couple of them are ranked more highly in the annual survey of economic freedom by the Heritage Foundation than the US itself. Why, back in 2015, Denmark was ranked more highly than the US!

@josephbacon7493 4 жыл бұрын

Wonder what Milton would say of today’s new crisis. Cut taxes and reduce regulation, don’t bail out the airlines

@kieranhimself9124 3 жыл бұрын

Socialism for multi-billion dollar companies is the state of affairs in today's economy

@casablancasj2570 3 жыл бұрын

Milton wouldn’t have imposed a worldwide lockdown causing the airlines to need bailing out

@9cgx 3 жыл бұрын

Sadly he would have been spot on with all of those. Although letting the airlines completely tank may not have been the best outcome for consumers just as much as the producers of that particular service.

@nasereslami3076 3 жыл бұрын

he would have said this is real freedom

@ryugakishatu6372 3 жыл бұрын

Joseph Bacon don’t bail out losers. That’s what would say and he’d be right. Too much money is wasted as the cronies get fatter

@indexplus 3 жыл бұрын

Post this on rumble before youtube deletes it

@lukealbert5867 8 жыл бұрын

I wish there were world leaders nowadays who would adopt the ideologies of this genius.

@crosenblum 7 жыл бұрын

To me he is one of the great speakers for freedom and equality and individuality.

@yozonssales935 7 жыл бұрын

Hoping for leaders to change is pointless as they are working for their own self interests. It takes voters to make the change of their leaders.

@logic7374 7 жыл бұрын

Hillary would only adopt these policies to benefit her crowd. His ideologies can be greatly beneficial to the masses. Trump will do that.

@napoleonb55 7 жыл бұрын

I think free markets as preached by friedman is unstable! if he lived afew more decades he would see wall street crash ( due to low or no regulation ) and currently we see developed economies stuck in deflation, that were prior pumped up by debt in the earlier years and central banks all over are trying their best to keep the economy going by lowering interest rates to levels even negative, but its all not working. So what is the solution on the fundamental level ? i think either civilization progresses linearly into a single government United states of the world of sorts, or we all go communism

@logic7374 7 жыл бұрын

MOLESTERMAN 69 Wall Street didn't crash because lack of regulation but because they were forced to do things that were bad business for them to ''benefit' certain low income communities. For example when banks were FORCED to give money to those unqualified it caused the housing bubble and crash. Secondly, these banks were corrupt already so putting these laws on them to make it illegal for them to deny a certain person who has no money.

@rishi2791 5 жыл бұрын

If anyone is watching this in 2019,you owe it to yourself to share this gem as much as possible.We do not want these intellectuals with the "death wish" to run any country.

@daveallan657 4 жыл бұрын

BINGO!

@randy109 9 жыл бұрын

The heart of this Lecture is almost a paraphrase of Frederich Hayek's "Road to Serfdom". If you've never read it, you really should...

@soylentgreen2065 4 жыл бұрын

This is an old video, but compare it to any recent youtube video of a capitalist/conservative speaker at any university. The audience was quiet and polite, though there had to have been people in the audience that disagreed with some of Friedman's thoughts. Today the SJWs on campuses in recent videos would heckle, belittle and even assault the speaker because of THEIR belief in their own moral superiority. That is a clear example of the superiority of the free market - the willing and peaceful exchange of goods or ideas. And also a great example of how corrupt a people can be when they are convinced of their own moral superiority and intellect, at the expense of everyone else.

@markjohnson9455 3 жыл бұрын

You raise interesting points that support the idea of agreement and disagreement. Freedom of Speech thrives in an environment where is disagreement is respected. I agree with Friedman's ideas about responsibility because that is how I was raised.

@antrim7008 3 жыл бұрын

Conservatives love arguing with college kids to feel good about themselves. They love to bring up facts and reasonable arguments to reel you in, then shove their ideology down your throat. Monetarism failed and Friedman's policies have caused unimaginable suffering to working people all around the world. Ask the people of Chile what the "Chicago Boys" did to their country.

@yoyu2567 3 жыл бұрын

@@antrim7008 its mostly left leaning speakers that go their but they are so many that you dont notice its rare for a conservative to speak unless invited

@joshg1529 3 жыл бұрын

antrim what are they suppose to bring up if they don’t bring facts and reasonable arguments?

@dericksuapaia 3 жыл бұрын

antrim wouldn’t you want to argue with the facts though? If you aren’t arguing with facts, what are you arguing with? You are simply complaining about what you don’t understand. When did “Friedman’s policies have caused unimaginable suffering to working people all around the world” ?? He did not force any type of policy on any government. What happened in Chile after the Chicago boys left, helped Chile. You don’t need to ask the people of Chile. Read and understand what happened in Chile yourself.

@CalicoThat 4 жыл бұрын

I love how he has a big smile the entire time

@joem8496 4 жыл бұрын

I dunno sometimes it's a little smug looking

@timeandattention3945 4 жыл бұрын

Where has this man been all my life ? 🙌🏽

@rafakania5921 5 жыл бұрын

40 years ago and still true words

@Cromper 7 жыл бұрын

Hearing the sound feedthrough makes me nostalgic. Like my old cassette tapes.

@jeannieprice711 4 жыл бұрын

Warning you may find yourself in a worst situation.

@LunaLu-00 5 жыл бұрын

"we have made immoral behavior far more profitable!" MF

@davidsack7488 5 жыл бұрын

probably, one of his greatest lectures ,I've ever heard!

@cato451 3 жыл бұрын

Thomas Sowell at age 90 is the last of the Milton Friedman Chicago economic thinkers. We are doomed.

@azizcangulec530 3 жыл бұрын

"We have made immoral behavior far more profitable" Tiktok joins

@helenaeycken5335 3 жыл бұрын

Brain cell regeneration has commenced.

@daniellasantos4136 4 жыл бұрын

2019 and still amazing...

@erichamilton8952 3 жыл бұрын

I wish I would have found Milton when I was younger. It would have change a lot for me.

@thworldisyours 3 жыл бұрын

23:00 Is this man a time traveler? How can he be talking so accurately about what is happening right now in a video that's 40 years old.....

@San_Deep2501 3 жыл бұрын

Exactly!

@george_carlos 6 жыл бұрын

Much of the “wisdom” he shares is considered common sense amongst the working class. All of it makes intuitive sense to anyone who briefly contemplates the issues at hand. But somehow, the “cream of the crop” of our elite educational institutions, the students at Harvard, Yale, etc., seem to have trouble grasping even the most basic of these concepts. Something is clearly very wrong in either the selection criteria or the curriculum, or both.

@Bigsecksie99 4 жыл бұрын

It's because they've never actually worked in their lives.

@Spark_Iskra_z_Polski 4 жыл бұрын

The key to wisdom among the educated may be hidden in one word you used: WORKING :)

@AussieZeKieL 4 жыл бұрын

parthct those people are funded by the government, they don’t want smaller government. Then they’ll have to compete for money just like any other business.

@WingsWithFeet 4 жыл бұрын

What about when the working class was calling for socialism and left wing politics in America's past?

@twintwo1429 4 жыл бұрын

There is a great difference ,in PHILOSOPHY, of those whom have worked and or served in the military, and those that have not. This is a general rule. Of course there are many that understand human nature anyway. Never trust a young philosopher, for he may not be aware of his inexperience. Have trust in your own experiences , but don't be foolish.

@lucidumluxbrightlight6747 4 жыл бұрын

Friedman has brought light onto my clouded mind. Freedom pills for free!

@cjjuju9100 3 жыл бұрын

I just love the grin he has which is part devilish and partly loving in a sense. It says “I know you’re not going to like this but you need to know”. God Bless ya Uncle Milty

@andrewsullivan7753 6 ай бұрын

One thing I like that came out of the labor movement is the 40 hour work week. I wish he’d discuss that.

@JAJA0913 3 жыл бұрын

Contemporary politicians should listen to this, especially the ones who believe they are morally superior to their opponents.

@paul9656 10 жыл бұрын

Should be standard viewing in schools

@casienwhey 3 жыл бұрын

Wish he was still around. We need his voice now more than ever.

@mylestasker7230 3 жыл бұрын

You have to be kidding. We have had this nonsense imposed on us since Reagonomics and Thatcher with catastrophic results for ordinary people and massive redistribution of wealth to the richest 1%. The result was the 2008 global financial crisis and the US government having to bail out the financial system to the tune of $86billion per month

@mylestasker7230 3 жыл бұрын

In addition Covid has forced governments around the world to spend huge amounts to keep their economies afloat. Friedmanism and the Chicago boys blighted lives and were wrong I f you have to bring back an economist it should be John Maynard Keynes who was clearly right.

@TheNotoriusOka 3 ай бұрын

My favourite quote from this amazing speech couldn't be more true today: "The most harm of all is done when power is in the hands of people who are absolutely persuaded of the purity of their intentions".

@ovolts 10 жыл бұрын

Some basic facts: 1- machines destroyed most rural jobs, people had no choice but go urban. 2- Those unemployed were absorbed by industrial jobs, that later were severely reduced by robots. 3- Then those were absorbed by the services sector. 4- The jobs at the services sector are right now shrinking because of new technologies. 5- There´s no other sector capable of absorbing all the unemployed from the services sector. 6- With mass unemployment, who will consume and fuel the system? Checkmate!

@wildchangjr.8998 4 жыл бұрын

Watching this during quarantine. About to come out of quarantine as a philosophist. 😅

@shawnhubbard3833 4 жыл бұрын

Forced charity will never prevail !

@afreedman4361 4 жыл бұрын

Like learning the alphabet, which comes via repetition, I've repeatedly watched Df. Friedman's lectures.

@LudwigVonFriedman 4 жыл бұрын

This is an absolute masterpiece. Everyone in the world should listen to this (freely) on their 18th birthday.

@tannercrandell682 4 жыл бұрын

Amazing lecture. Great man.

@nyyankee1812 4 жыл бұрын

Too much fun on a Saturday! :)

@egzonkrasniqi8773 3 жыл бұрын

Clear and thought-proving lecture. I wish I had been able to attend his classes.

@blakekirby9149 3 жыл бұрын

This is simultaneously genius and incredibly simple.

@victorarregnelle8976 3 жыл бұрын

If capitalism is all about money, why is socialism all about.... Money?

@JoseGarcia-vi3pu 4 жыл бұрын

Crazy how this so relates today.

@TheMonkeymonkeyking 3 жыл бұрын

First time I've ever heard Milton Friedman talk, well worth it.

@portiaberrey1297 9 жыл бұрын

How I wish he were still here!!

@WeiweiCheng 4 жыл бұрын

They should make this a must-watch in the universities.

@angelbarajas9180 4 жыл бұрын

If Milton Friedman was alive college students would shut him down.

@JNM578 3 жыл бұрын

@Red Baron Nah, for bad reason. Nowadays if you have an opinion that's not from the masses you will get attacked, instead of the masses trying to convince you to their side.

@lowkeyliberty7105 3 жыл бұрын

@Red Baron regarding speech and ideas, the only good censorship is self censorship.

@lokeshn8850 3 жыл бұрын

He would be shut down for mansplaining.

@matthewcaskey1051 4 жыл бұрын

This proves that as a society we have become lazy then dumb and now are too willing to go along with the plan. This is why people have come to hold socialism in such high regard without acknowledging the facts. Capitalism indeed is the best system to date. I once thought socialism would prevail in a good and moral way but over time have witnessed it's historic failures. Capitalism is far from perfect but it is better then any system to date.

@americaisacontinent. 4 жыл бұрын

Gracias Milton por tus ideas philosophicas. Milton and Dr. Peterson... Great men to listen to.

@SaulOhio 10 жыл бұрын

Since capitalism is DEFINED as the system based on private property rights, any event that involved the violation of property rights cannot be blamed on capitalism. In India, they have long had what is called the "License Raj", based on socialist theories. Millions starved. Since the License Raj has been reduced and much of it lifted things are getting better, but since much of it remains, progress is not as fast as it could be.

@butimar68 4 жыл бұрын

It's always easy to rely your success story on your opponent's failures, polish your success as long as you successfully look away from your your fails. Hundreds of millions of people suffering under capitalism, as it's going through its own corruption. Making this fact invisible is biggest success of capitalism. long live public relations!

@FKAAYA 4 жыл бұрын

I used to be anti capitalist, then I grew up.

@HuntforMusic 4 жыл бұрын

I used to be pro capitalist, then I grew up

@drawtheworld5 4 жыл бұрын

thanks God.

@natejennings5884 4 жыл бұрын

I used to resent normal people. Then I tried being normal. Then I realized the value of normal people. Today I'm still a weirdo, but I appreciate normal people in ways I never did before.

@magicdarragh 4 жыл бұрын

Oh grow up

@FKAAYA 4 жыл бұрын

@@HuntforMusic still learning buddy

@rudyo1 6 ай бұрын

His point about persuasion versus coercion is powerfully astute.

@cassamachillah8833 3 жыл бұрын

Can someone please get me the link to the paper by that Russian Mathematician, or even the name of that mathematician. I can't get it clearly from the clip

@BarbaraJoanneBJ 10 жыл бұрын

Oh, how I wish this man were still with us!

@hsgrain490 5 жыл бұрын

Mr. Friedman would be shouted down from the stage in todays campus's because he would 'trigger' so many emotions.I miss the individual that speaks the truth no matter how negatively it might be received. We can never correct anything with out knowing the truth first.'Truth is NOT a left wing value.' Dennis Prager and I think it is true, just listen to the leftist politician promising all will be well if I give you free stuff!

@ulflundman8356 4 жыл бұрын

People have got too neurotic last decade.

@alibukarmele5117 4 жыл бұрын

Based Professor. Love this man!!!

@Thinklikemeornot 6 ай бұрын

Love reading the comments as much as the video itself

@PoliticalRegality 6 ай бұрын

Yes!

@johnsmithfrombackeast7376 3 жыл бұрын

Milton Friedman is just as profound now as he was then. This, and the study of all of his works should be part of the standard curriculum in High School.

@beyondhorizons9758 4 жыл бұрын

Milton, we need you more than ever now !

@gabo5407 4 жыл бұрын

Cheers from uruguay

@jpbroadwater 3 жыл бұрын

I wish this sort of thing was 'required reading' in schools these days

@eddyecko94 3 жыл бұрын

Brilliant! Love it!

@toomuchyoutube 3 жыл бұрын

This is timeless

@koru615 4 жыл бұрын

Come baaaaaack!! We need you!

@zarathustra6712 4 жыл бұрын

Timeless.

@SirsWubCat 11 жыл бұрын

Your argument really made me rethink Milton Friedman's 45 minute video of facts, logic, and common sense. Thanks!

@SHAWLATIF 4 жыл бұрын

Truthful and intellectual genesis

@freddyferrillo9704 4 жыл бұрын

Curious on what year this took place? Looks to be about 1980/81?

@tommccanlis5222 4 жыл бұрын

Interesting talk, anyone know when it was given?

@stevebutler812 4 жыл бұрын

Well, at Cornell. 1980?

@biquinary 4 жыл бұрын

This is my first time listening to anything from Milton Friedman. His arguments are very different from what I have been exposed to. His manner of speaking is cogent and persuasive. In other words, I think what he's saying makes sense. Yet, how can I know they are true? In fact, how does Milton Friedman know they are true?

@SpencerBeale 8 жыл бұрын

This was really good. I watched this and trying to apply it in terms of Bernie Sanders and democratic socialism. Pretty challenging.

@NMSUbanwagon 8 жыл бұрын

+Spencer Beale The cornerstone of all Bernie supporters, personal responsibility.

@thatguynicky1979 4 жыл бұрын

Just don't hold your breathe Spencer, your lungs will collapse long before can rectify any means of socialism, whether that be democratic, Lucifarian, or otherwise... 😉

@onekerri1 4 жыл бұрын

Judge Mox bet you say that today with a straight face.

@jamescarmody4713 4 жыл бұрын

@@onekerri1 Yep, the cornerstone of Bernie supporters remains personal responsibility.

@marcusporciuscatotheyounge5795 10 жыл бұрын

I am sure that you as an architect, with your knowledge of Rio ,probably can do better than my answer. Thanks for replying. I could maybe donate money to your efforts. The world needs people like you

@beeatrees2229 3 жыл бұрын

Totally! And I can tell because I came from a “Socialist” country, Cuba and I left Cuba only 6 years ago, my family is still there and I last visited Cuba in December 2017-2018

@howardking3046 4 жыл бұрын

Intellectualism should never be more than a part time job!

@BrightShadow- 10 жыл бұрын

@GritsnBeans You can call a flower by any other name, but its still a flower. Same is true of Liberty.

@charleslong5373 4 жыл бұрын

Back in 1972 I attended a special lecture, only a limited number of attendees, and after the lecture I stood up and asked Milton how the amount of money in circulation was affected by these credit cards, plastic money. Not everybody had a credit card in 1972, and many merchants didn’t take them. The gasoline companies had them and American Express and Diners club, and that was about it. He responded that they didn’t make any contribution to M1, M2, or M3. Ha ha. I have the last laugh. There is over a trillion $ in float on credit cards today, more than M3. Milton stated that when he grew up in Chicago, his parents ran a bill at the grocery store and then at the end of the month his father went and paid the bill. Ha ha again. Milton had no idea people would apply for, and receive many many credit cards, charge them up to the limit, and then pay only the monthly minimum, allowing hundreds of thousands of dollars to float in debt for years. Issuing a credit card is like printing $7,500 of money. The person who receives that card immediately goes and spends it to the limit, then pays off some of it, then charges it up again.

@joshuakirschenbaum417 3 жыл бұрын

What year was this recorded?

@gammasmash1924 5 жыл бұрын

A message that is more relevant than ever.

@paoemantega8793 4 жыл бұрын

love your doggy pic :)

@mr.solomun9546 5 жыл бұрын

Damn, Milton Friedman was a Savage! Terrible how young people are being persuaded by idiots into believing that Capitalism is bad and Socialism is the way to go...

@SoB_626 4 жыл бұрын

There are other ways besides capitalism and socialism...

@christianjohns8352 4 жыл бұрын

@@SoB_626 Name a single "way" other than capitalism that provides the freedoms AND progress that we have experienced. It's very easy to say "there are other ways", it's something quite difficult to prove it.

@hmmmhmmm6917 4 жыл бұрын

Maybe because capitalism is bad and socialism is the way to go?

@shamarwright1133 4 жыл бұрын

Look at how great capitalism has worked out now idiot! Love the wealth inequality going on today, the wage stagnation and the growing cost of living huh? Dumbass brainwashed goof

@mayankgoyal5264 4 жыл бұрын

@@shamarwright1133 Wealth inequality is rising because of cronyism, not capitalism. The cost of living is increasing because of over-rules and regulations, which make it difficult for the market to provide those needs.

@rchuso 4 жыл бұрын

Excellent points.

@stephenpoole6415 4 жыл бұрын

If he gave this speech today, it would be 100% as relevant to today’s discourse as it was then. Perhaps even more relevant - hard to say. This suggests to me that common sense and reason and facts have done little to reverse the carnal tide of collectivist instincts.

@cricketmstr 11 жыл бұрын

I'd love to know the date of this lecture

@MrThenry1988 4 жыл бұрын

Early 80s

@paulperez6167 4 жыл бұрын

1978

@123canuckfan 10 жыл бұрын

I wish I could hear his thoughts about the '08 crash and how we can prevent that from happening again without government regulation? Thoughts?

@sumitagg1 5 жыл бұрын

It happened because of government intervention - government quotas for low income housing, federal reserve keeping rates low

@ulflundman8356 4 жыл бұрын

It wasfirst a consequence of goverment lending money to simle peoplebuilding homes.It was a friendly tjhought to hel pepole who the banks nobbed but if banks do not do budsiness there is for a reason and it roved to be bad all money was wasted on the cheapst land and cheapest buildings resultiing in valueless properties. But the as Leman to put the bad credits in bunches and lure onEuroppean banks, was just a great con, a crime in any system...

@jn1mrgn 4 жыл бұрын

What Sumit said.

@Fulltang65 4 жыл бұрын

The moral atmosphere of today’s college campuses would not allow a man like this to even speak at their college, notice how all the students are listening and no one is shouting or crying.

@michaelgrant169 4 жыл бұрын

Strange isnt it. Progression > all economic systems come to an end. Global capitalism exists today.

@dennisfiring7518 3 жыл бұрын

Challenging discourse.This will feed my mind for a while. I do wonder though what Friedmans opinion on capitalism would be if he saw the present day United States.

@stayjit1 4 жыл бұрын

Is it just me or is he an economic version of Jordan Peterson

@zachfiles9703 4 жыл бұрын

A voice of reason in a time of chaos

@yareyaredaz3522 4 жыл бұрын

basically yeah. Both their ideas are based in nothing of substance.

@zachjohnson637 4 жыл бұрын

@@yareyaredaz3522 "I disagree with them, so what they say has no substance."

@awksedgreep 4 жыл бұрын

@@yareyaredaz3522 You stopped playing video games in your mommy's basement long enough to watch Friedman? I'm not sure if I should be honored by your presence or discouraged by your opinion.

@frankstraw3077 4 жыл бұрын

@@yareyaredaz3522 .....Nothing of substance? how if I may ask?