Milton Friedman died almost three years ago, and given the socialist coup that’s been undertaken in this country over the last year, there’s little doubt Friedman is turning over in his grave. Even before the bailouts, AIG, Freddie/Fannie and Bear Stearns were not examples of free-market economics and are even less so now. In our current age, capitalism is seen as the problem, not the solution.
In this classic Donohue clip from 1979, Friedman deftly answers criticism that capitalism somehow creates economic hardship, a charge frequently made by politicians now intent on “spreading the wealth around.” And at a time in which corporate greed is commonly charged assailed as the culprit, Friedman questions the now commonly accepted notion that political self interest is nobler somehow than economic self interest.
No comments:
Post a Comment