Feb 14 2009
Milton Friedman: “there is no alternative way so far discovered of improving the lot of ordinary people that can hold a candle to the productive activities that are unleashed by the free enterprise system”
With all the talk of government spending, fiscal stimulus, nationalization of the financial industry, the “new new deal”, infrastructure, education, health, “job creation”, and on and on… I thought it wise to share this bit of wisdom from the greatest advocate of free markets of the last 100 years, Milton Friedman.
AP Economics teacher Michelle Hastings sent the link to this video to the AP Econ email list. Thanks, Michelle.
- What is Friedman’s view of command economies?
- Does Friedman imply that “greed is good”? To what extent is greed an important component of free markets?
- Do you think Milton Friedman would support the current $800 billion fiscal stimulus package being debated in Washington right now? Why or why not?
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