Posted on 02/08/2009 4:27:59 PM PST by milwguy
Please watch and forward this youtube to your messiah worshipping Obamatrons. Milton Friedman gives the best defense of free market capitalism I have ever seen. In less than 2 1/2 minutes in this TV interview, he destroys any argument against capitalism.
http://www.youtube.com/watch?v=RWsx1X8PV_A
(Excerpt) Read more at youtube.com ...
I agree. I read recently that Milton Friedman’s predictions were all wrong, and that his science was faulty. That is total crap. While you can plan for many eventualities, you can’t plan on government intervention. Friedman is the model of our modern economist.
I can name that tune in 2 1/2 SECONDS:
“Socialsim/Marxism/Communism’s NEVER worked ANYWHERE”
ping
Reminds me of a quote that I once read. “America is the only country where the poor people are fat.”
Thanks for posting.
bttt
Very good. Thanks
Yup—Friedman tore Donahue a new one. A loved the look on Phil’s face—couldn’t answer a single one of Friedman’s questions.
I seriously doubt it....the MSM would make sure that the American people remain ignorant about it.
btt,
brilliant, I love how Friedman was always able to destroy stereotypes like Conservatives being about ‘greed’.
They can assemble leading questions, but can't handle the challenges in Friedman's reponses...
Imagine that.
And yet, once more we are hearing the insane repetition of the past. Government is the answer, whether Socialism or Fascism, The past failures is simply that the "right leaders" haven't tried it.
As if the populace's reaction to coercion has nothing to do with the results!
For later viewing
Friedman really had Donahue spellbound at the end of that segment. Friedman is brilliant.
DEFEAT THE STEALFROMUS BILL!!!
Best part of that was watching Phil Donahue getting his butt handed to him.
Beautiful - unapologetic and crystal clear on what he believes and why. And to top it off, he slyly rips the twit Donahue a new one with his last line!
Friedman was somewhat Keynesian himself.
He was excessively a believer in pumping federal reserve paper into the system, and even believed that doing so created wealth and productivity.
If you want real free market capital, you need to head in the direction of Irving Fischer. For the situation that we’re presently in, his Debt-Deflation Theory requires government to step aside, and allow the market place to cleanse the bad debt before economic recovery can occur.
I am a fan of Friedman, but you are right about some of his thoughts. I am more a fan of Ludwig Von Mises and his Austrian theories, espeically as they relate to the Feds current expasionist binge.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
Comment from a DUmmie at youtube:
“Watched Freepers. This is UTTERLY wrong. This is no longer the economy. Jobs are going overseas, etc. This is ancient analysis. But, whta do you expect from the GOP? Just what we need. more dinosaur econ. And you people wonder why the GOP is JUST about dead.”
Friedman is a classic.
He always ties economic freedom and personal freedom together, as they should be.
Many on FR will object to Friedman’s ideas about personal freedom, for he would clearly be libertarian on social issues.
Ouch. That comment, pyx, hurt. It really hurt. Tell me, have you ever clicked on an econ thread?
I need to go take an ibuprofen.
Fischer and VonMises are pretty much of the same school.
With our present situation, monitary velocity is approaching zero. Adding debt and artificially balooning the money supply will slow the velocity even further, because people are too scared to go out and spend, so they use all elective capital to pay debts. The Obama theory has already been tried several times: in the US in the 1930s, and in Japan in the 1990s, and it didn’t work. It won’t work now either, and it will prolong the stagnation.
re: Jobs are going overseas, etc
And just why do they think the jobs went overseas to begin with? It was the regulations and controls placed on productivity here at home that made it advantageous to go somewhere else. You can see it with California. They became onerous in their control of business that everyone simply moved out.
Ancient analysis does not make it any less correct. The dinosaur economy is what built this country, it is the modern gov’t economy of Barry and his DUmmies that will destroy it.
Anyone who can is fleeing California for exactly those reasons. The only ones who will be left are gov’t employee parasites and illegal imigrant parasites. Both will kill the host, and one of the most beautiful states will be ruined beyond repair. Drill off the coast for KNOWN oil reserves? No way! Cut taxes and regulations to make the state more biz friendly? NOt on your life! Why is it the blue states are the worst offeconomically right now? Hmmmmm
That’s why they are DUmmies.
You haven’t been to England lately, I take it. It is only in modern Western Civilizations that the chief health problem of the poor is obesity.
Priceless. Its hard to believe that he and Obama taught at the same University.
mark***
Find later
Yes, it’s preachin’ ta da choir. But we need to be reminded now and again.
Besides, Friedman shows an example of how to be gracious, tactful, well mannered while forcefully arguing one’s position. He really did it well. He’s a role model for the yutes of Merica.
I love his command of FACTS and history, I don’t know how he is able to remain so calm and collected speaking with indoctrinated commie types.
If you get the chance FReepers, watch some of the other short videos of his, those several videos could get some kid an A in several subjects, not only in HS but college too.
Thank you for posting this.
It’s hard to believe that he an Obama belong to the same species. Actually, Freidman was a Nobel Laurate and tenured professor, Obama an instructor, which is one step up from a grad student.
The Buchanan brigade is tone deaf.
Bump
And usually neither do the people who support it.....
While it's still available in the free market. Pretty soon, you will not be able to do this. You will have to go to the government run healthcare clinic to get your "free" allotment until supplies run out, which will be always. Everything you now 'take" for granted will be controlled and distributed through "official" government sources. Aspirin, ibuprofen, even cough drops and Ex-lax will become controlled substances. It will not be "fair" that some can afford these "luxury" items while others cannot. "Free Universal Healthcare" will mean all aspects of your "health" will be controlled. Eyeglasses, Toothpaste, mouthwash, even suntan lotion will be controlled. The people who run the systems will be government democrat cronies and they will not suffer the indignities of having to wait in lines for these items. The Congress will pass laws "PROTECTING" THEIR RIGHTS AT YOUR EXPENSE........
Nam Vet
Milton Friedman “in the only cases in which where the masses have escaped from the grinding poverty that your talking about, the only cases in history, is where they had capitalism and largely free trade, if you want to know where the masses are worst off, it’s exactly in the societies that depart from that”
.
The Masses are in for a surprise if this bill passes, and financially speaking, the spending is not sustainable for long
*
Donahue disingenuously substitutes the word “greed” where “self interest” is the actual motivation behind free enterprise. But what can you expect from someone whose grasp of English is so poor that he makes up the word “maldistribution?”
You don't need to go to DU to find the lion's den. Just spend a few minutes on any recent free trade (buy American) thread and you'll be surprised to learn that Milton Friedman was really a global socialist who supported slavery and the destruction of American jobs and, therefore, the destruction of the middle class. For some people here you can't get any more anti-American than Milton Friedman. Economic illiteracy and bigger government as the solution are alive and well right here at FR.
ping
“Friedman was somewhat Keynesian himself.
He was excessively a believer in pumping federal reserve paper into the system, and even believed that doing so created wealth and productivity.”
With all do respect, applying the term “excessively” to Dr. Friedman is out of place and not based on reality. He felt normally about a 3% increase in money supply annually (when the times were appropriate) were all we needed to sustain normal growth. During times of deflation we would increase that and during times of inflation we would reduce that. He was correct in describing reality of the market place and the function currency played in it. His discovery of economic truth was historic and indeed he is probably one of the greatest economists of all time. He is on the level of Adam Smith and will go down in history as such unless of course,the left slants history. Which in all honesty is very probable. But, the truth is the truth, no matter what anyone says or does. Dr. Friedman had the unique ability to not only see the truth but understand it’s relationship to man in an economic sense.
Taxes on businesses. Property taxes on the buildings, land, and, yes, even the equipment inside the businesses. And...These taxes must be paid whether or not the business even makes a profit.
Then because the taxes, zoning and other regulations and restraints on productivity, the product is too expensive to sell to customers abroad when in competition with foreign competitors.
Geeze!! If companies are going abroad the first place to look is GOVERNMENT!
Do you want to see manufacturing boom here in the U.S.? Then eliminate totally the capital gains taxes, and all property and business income taxes. There will be more jobs available than people to fill them....and...government tax revenues will zoom ahead as well.
Card check will drive American businesses abroad as well.
Businesses go overseas, particularly manufacturing, because (besides lower wages overseas) the USA unwittingly gives them many incentive to do so - and penalize them for staying
- rigid union rules. Card check will make it worse
- OSHA, EPA and other rigid Gov’t regulation (worse in NY, CA, MA, etc..)
- tort law. Count how many ads for injury lawyers you see in one day.
it is far easier to do the “dirty” work overseas and import products. Oil production is not manufacturing, but is a fine example - the political class does not want production in our backyard. So the USA outsources more than we actually need to.
This game will continue as long as the US is the major reserve currency of the world. Once we reach the point where foreigners (Asians) don’t want to hold dollars, the game is over.
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