Milton Freidman On ‘Greed’ And Free Enterprise
A classic clip of the late, great economic Milton Freidman articulating the virtues of the Western free enterprise, capatalist model for self-improvement.
“The world runs on individuals pursuing their separate interests. The great acheivements of civilization have not come from government bureaus. Einstein didn’t construct his theory under orders from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way.
In the only cases where the masses have escaped from the kind of poverty you [the interviewer Donahue] are talking about — the only cases in recorded history — are where they have had capitalism and largely free trade.”
Worth the 2-3 minutes if you haven’t seen it before. It’s exciting to think of just how many 21st century Einsteins and Fords there are out there now, across America, who might just have begun to develop the next great innovation. Let’s hope the government regulators will let the market reward them for their labors.
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Super. So well put. Why is it so hard for liberals to understand that EVERYONE has a chance in the free market. If…the big IF… they are willing to do something about it.