Milton Friedman speaks on Socialism

Milton Friedman, recipient of the 1976 Nobel Prize for Economic Science, was one of the most recognizable and influential proponents of liberty and markets in the 20th century, and the leader of the Chicago School of economics.

In this video from the grand opening of the Cato Institutes's headquarters in Washington, D.C. in 1993, Milton Friedman gives a talk about popular political aphorisms, one of his favorites being the one he helped popularize in the title of his 1975 book, "There's no such thing as a free lunch."

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Comments (5)

Socialism is only good in books, Im Venezuelan I`ve lived.
More communist than socialist. A corrupt oil rich state that squandered and stole its wealth from its own people.When oil prices fell it collapsed. Lets hope a little Putin doesnt get control of Venezuela. Although Im sure Trump will try to facilitate it. The parallels with the Soviet Union are disturbing.

Regarding Friedman, he was living proof any fool can get a Nobel prize.laugh Obama?laugh

Friedman mourned the death of Enron, the vilest criminal corporation in U.S. history.
"Regarding Friedman, he was living proof any fool can get a Nobel prize."

That honor would go to Obama.
^^^^
Or Paul Krugman of ENRON!rolling on the floor laughing
Socialism is a nice albeit cluttered idea that couldn't possibly succeed without a lot of editing. If anything take from it thinking holistically. It's better for the whole city to make a loss on the roads so that the whole city can get to work rather than paying a toll at the end of every street. When that efficiency or impartiality matters more than profit-motive innovation is a time to consider the state.
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Willy3411

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