Morality of the Market

Leave it to Milton Friedman to explain the goodness of capitalism better any of today’s economists.  If only today's "elites" devoted as much time to studying Friedman as they do Marx and Alinsky...

“Not a single person in the world could make this pencil…Literally thousands of people cooperated to make it. People who don't speak the same language or practice the same religion... No central planning create this pencil. It was the magic of the price system that brought people together and induced them to cooperate so that you could have it for a trifling sum...The operation of the free market is so essential not only to promote product efficiency but to foster harmony and peace among the peoples of the world.” 

Milton Friedman Schools Progressive on Greed

The Occupy Wall Street mob is probably best known for its attack on greed and capitalism.  Yet the arguments used by those few in the OWS movement coherent enough to articulate them, amount to nothing more than ideological fantasy. Uber-liberals, whether they take the form of Marxist indoctrinated students, union leaders, Democratic politicians, Journalists, or professional victims groups, live in an ideological bubble divorced from reality. In this 2-minute clip from the 1970s, pop media progressive, Phil Donahue, spouts the very same anti-free enterprise rant that we hear across the nation today. Donahue pleads about the plight of the poor, the many “have nots” versus the few “haves”, and income disparity. But Milton Friedman has a succinct response to the leftist rhetoric that seems to leave Donohue speechless, as if he has never before heard a critique of Liberalism.

Economic Myths: Gov Spending Helps the Economy

Milton Friedman explains the silliness of one of the most persistent economic fallacies of the left; that government spending is good simply because those who get paid by government, then spend their earnings in the economy. As Friedman explains, real production has not changed; we have only reallocated it. And real production is what matters in an economy. Consumption is simply a way to allocate real production.