Milton Friedman best moments
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- Опубликовано: 31 июл 2016
- A collection of some of Milton Friedman and his best moments. From healthcare to welfare.
Ben Shapiro CRUSHES Black Lives Matter one by one • Ben Shapiro destroys B...
1801R - Common sense news.
They don't even let guys like this walk into a college campus anymore
11:20 is that Bernie in the front row?
+atombrain111 He is saying that the government schools have not educated the blacks to a level of being productive enough for minumum wage. If a black teenager goes to apply for a job, there will be other applicants, that have received a superior education, and the employer will choose a higher educated person for the minimum wage job.
He's not blaming blacks, but government officials that have poorly educated them. If a black teenager can't read (for example) as well as a white teenager, employers will choose the white(for the same pay).
Now if you allow the black teenager to say to the employer, I will work for half of minimum wage, there is an incentive for the employer to hire the under-educated person. The emoter gets cheaper labor (for a time), while the black petsin gets on the job training which he ciykd use on a resume for another job.
Now this black person can apply to another job, and show 6 months of employment and a letter if recommendation, to counter balance other applicants who have no job experience. The new employer will usually give experience & reference more weight than education.
Now the black youth is in the work force competing.
The only power someone with a poor education has is to offer a lower wage.
and that is why the current left is often called regressive. you cant make this shit up, leftists are literally trying to make societies go full circle.
Political correctness has corrupted colleges in America. No longer the strongholds of free intelligent discussion as they once were.
wages did raise by 5% last year when min wages started to raise around the country-- just sayin...
"I'm on your side! But you're not!"
That is probably one of the best quotes I've ever heard.
It really is brain crushing, in a good way, isn't it?
Ahh, feminists. Continuously their own worst enemy.
+Cankerous Booch one must also bear in mind that as I see it quotas had not been introduced by the time he gave the lectures, and that has contributed to women accessing jobs but not so much in helping them up the ladder. Take the industry in which they make the most money (as in the one that has the most millionaire and billionaire women): entertainment, which does not guarantee an income much less an income that is equal to their peers' and it has actually benefited them the most
This quote is the 70's version of "Congratulations, you played yourself"
"Nobody deserves anything" truer words have never been spoke.
Unfortunately the motto of most people today is the exact opposite of that truth statement. Most people today (minorities and women in particular) feel they are *ENTITLED* to take from others (typically whites and males).
These entitled little monsters claim to oppose racism and yet THEY are the ones practicing it. They claim to oppose sexism and they embody sexism.
M Hend You earn the fruits of your labor. You don't deserve them.
M Hend Well the human race doesn't deserve it.
M Hend More blacks proportionally on welfare than any other group. Just an fyi.
It's proportionality that is important in discussing facts like these. Your hurt feelings and deflections don't alter reality.
***** How did this become racial? You don't "deserve" to comment.
the respect in this video vs todays speeches... such disparity
dont kid yourself, these kids will grow up to be the academia leftist black lives matter enablers
looking at videos like this kinda makes trump's catchphrase 'make america great again' kind of real though. not saying that muppet could manage to do that ofcourse. then again i doubt anyone could change the victimhood culture that gets triggered by fucking everything.
now you've got Milo Yiannopoulos...
brockatx
he has a bluntness that this pampered society desperately needs... so it can wake up and focus on bigger things than imaginary and exaggerated wrongdoings
When you put a bunch of half educated woke ill mannered psychopathic radicals in top positions in schools and in media, when you open borders to everyone and claim that non citizens should vote thereby destroying the meaning of citizenship, when you deny basic common sense to please a radical minority at the expense of everyone else’s freedom, that’s what you get.
"But that's all irrelevant. Is there one of you who was going to say that you don't want a doctor to treat you for cancer unless he himself has had cancer?" He may have meant it as a joke, but now more than ever it kind of applies to everything.
"Check your privilege"
"Stand and deliver"
It wasn't meant as a joke - it was an excellent analogy to the implication that one can only propose a cure for poverty if one has been poor.
Dave Cochrane Ok, not a joke but a metaphor (or as you said: analogy). The crowd laughed because the concept was kind of a, "thing of its time," (very bad fallacy, don't use it) but you have to admit. It was told in the form of a joke. And I did acknowledge that what he said was genius and applies to a lot of government programs, social justice and forward activist rhetoric, and public industry nowadays. When I hear this man talk, I think of Trey Gowdy. Simple but stinging answers[questions] that he's able to back up, he asks only for yes or no answers and not run-arounds, and he's likable.
the soft bigotry of low expectations is what makes it relevant - not treating person with any dignity unless he dealt with the experience themselves.
And then the guy advocating 100% inheritance tax went home, had a bunch of kids, raised them to be even stupider and now we have the situation we're in today...
It wouldn't work anyway. All people would do is sign over their wealth (or the majority of it) to their kids when they get old, before they die. 100% inheritance tax would achieve nothing.
you think they wouldn't watch for that? they watch for that now!
yikes
Obviously all tax is subject to avoidance and evasion. But presuming it was properly enforced, Friedman's argument is facile. Of course a billionaire spending all his money has a more positive effect on the economy than if he hoards it. The fact folks lap up this economic Nazi's, Thatcher's idol, ideas speaks to the inherent fucking idiocy of man.
+Cockoff Gewgle rich people don't hoard their money under mattresses. If it's in the bank it's being sent out to people to start businesses or to buy a home, etc. or is being invested in the stock market to help companies. it's already in the economy that's the way the market works
Also, really strange to see these students listen (WITHOUT INTERRUPTING) to his perspective. What the hell happened to us?
What's striking about these videos is that they provide tangible evidence of the infantilisation of our society. Most of these students asking questions really seem like young adults, whereas if you see debates and discussions with college students today, they all seem like children!
tbone35453: I found this video very depressing. I miss this generation very much.
***** You cant blame them for the crimes of this generation. They wanted to give them a better life. How could they of known this would happen.
***** Yes its their fault that life was too easy for their children and grandchildren. As a result their children and grandchildren never developed character. Their fault is that they were too successful.
NOT successful, they were too comfortable, the realmthat perpetuates medocrity.
I loved that line at the end "I'm on your side, but you are not". That perfectly sums up all economic fallacies held by the public today.
How can Friedman be both so savage, yet so nice?! This is ridiculously good
Because it is done without malicious intent. He is attempting to educate, not farm likes or attempting to wreck another's reputation to up his status.
Friedman was a great red-piller
+Pero “Dega” Perhan Yo momma
Thanks for the cringe.
***** Comment started well and then ended like a dumpster fire.
***** He was marginalized and blackballed by his own party before he even began his run. Try to keep up.
***** Surely you have far greater concerns than my race, nationality and voting preference.
First video I've seen of him and I already like his views.
+PeasantsArePeople Don't forget Thomas Sowell.
Thomas Sowell is still alive and was under Milton Friedman's tutelage during his tenure at the University of Chicago. I recommend watching and reading Dr. Sowell's works if you're a fan of Milton Friedman.
+aznravechild6i9 Yeah, I know. I have read only two of his books so far, and find them fascinating. Especially, when he talks about affirmative action and the income inequality.
watch his speech on how tax reform is impossible, I consider it the best example of how politics and people are completely incompatible even when there is gain to be had.
Walter E Williams is another to look into
"the great achievements of civilization have not come from government bureaus." no more needs to be said.
Manhattan project, all of NASA's work , anything invented at a university.... soooooo pretty much everything useful? Cmon man
the most destructive bombs of all time are a great achievement...? NASA's work depends on science that they mostly do not/did not develop. "anything invented at university"; the leading universities are private entities. and nasa isn't bureaucratic, neither is a university, or a self defense program...
The ignorance is staggering. The Manhattan Project was a war-driven, international concession to the greatest researchers but, more importantly, overseen by the Military. If you know anything about the US Military, you'll know they're far more private than public.
NASA is an independent agency, although I'm sure you'll be looking up what that means. It is not presided by government. Lastly, the vast majority of high output research Universities in the US, and in many other places in the world, are private.
How people can have such uninformed opinions is beyond me.
+FriendlyIntentions The Manhattan project was an outgrowth of Einstein's General Relativity. NASA was an outgrowth of the private industry's creation of flight and MIT (private) students' creation of rocket fuel. Who does government actually contract with in order to make their toys? The answer: private industry. The government literally creates nothing but endless bureaucracy. It does, however destroy many things, such as productivity, wealth creation, free markets, and freedom.
+NoRecourse1785 I believe you misread. I am aware of what you wrote and was explaining those things did not come from government as opposed to what the other dude thought.
Just found this guy. Love him already. Gonna proper geek out over him and see what else I can find online. Thanks for the upload!
Try his book, "Free to Choose."
This guy always reminds me of Adam Smith whenever I hear him talk , he must have been influenced by him , another great book would be Adam Smith's - The Wealth of Nations
He is wearing an Adam Smith tie in most of the shots.
Just googled that , had no idea there was Adam Smith attire lol that's great , thanks.
Ever heard of Thomas Sowell?
The Millenials needed this man to run for president; not Bernie "the silent Communist" Sanders.
dj blÖsl Productions I disagree. Sanders is from the group of indoctrinated students in which we hear in this video. Neoconservatives were not needed to create Sanders; the indoctrination of radical socialism made folks like Sanders.
Bernie was the same old socialist back when nobody had even heard of the neocons.
Quite a shame he's dead. But we can still look to Ben Shapiro
Norway
dj blÖsl Productions
Socialists are always bad.
100% inheritance tax? smh
fkiing liberals
Holy shit, i wonder what that person is up to today?
***** that is very true. The US poverty line is above the middle class in many countries.
That means the government is forcing you to make it your sole beneficiary. Forget leaving anything to your family. Let them beg the government for your money after you die.
+EducatedThinker1.. You simple minded idiot.
It's amazing how relevant this still is today.
He's an economist. As long as there is an economy, economic policy will be relevant. I think you may have missed the point.
+dubs checkum Try this one: Economics is the study of scarcity. So as long as there is scarcity, there will be a need for economics. By scarcity I mean we have wants or needs that cannot always be filled.
+Mike Betts it seems you are alluding to want never being satisfied, and that bit isn't true. you are satisfied and want/need more
Lan Krownet I am not sure of what you are trying to say. If you are suggesting that at some point wants are satisfied then I will disagree. Sure, there are some people that will be content with their lot in life but I see no evidence that this is true for the majority of people.
It seems that no matter how much a person has, there is want for more. Even among the super-rich we commonly see striving for more. Sure there are some that have inherited great wealth that sit back and live off this bank account with no real effort to continue building the business that generated that wealth. But then there are plenty of examples of entrepreneurs that never stop building and growing.
We can also see that most of humanity seems to be stuck somewhere between poverty and middle-class. But don't assume that they are all happy there. Most people would like to have more but are not able to figure out how to get there.
Mike Betts at some points wants are satisfied, there's passion and burning out. both of which happen, there are certain periods of rest for all professions, and there are projects you finish which satiate your needs. but it occurs to me now that you're talking about wants as a "will to live" kind of thing, which I'd disagree even more.
Milton Friedman was 100% the man.
More people need to listen to him
I liked his idea on negative income tax, and I only wish it was actually implemented.
+Bryce Thibodeaux How go you square that circle when it comes to the fact that capitalism leads to greater gains in technology accessible to the everyday man, due to the incentives of potential wealth to discover, innovate and avail?
To be fair they do get better at indoctrination and oppression. They often come up with ingenious ways to justify their poverty and keep on at it. I do agree on your point though, they don't seem to come up with anything useful.
+Bryce Thibodeaux
Who put man on the moon? The Soviet Union and American government or Ford Motors and United Fruit?
How fortunate are those students of economics to have a teacher as Milton Friedman!
Balony . Milton Friedman’s full of crap. Name one country that using Milton Friedman’s policies that successful economically.
Just found this guy. My mind is all over the room now. Blown to bits. Never even considered his points before. I, even as a conservative, have held some liberal economic policies. This may changed my mind or at lease given me an avenue to research. Woah....
Welcome. Good for you. You may also like the economist Thomas Sowell.
Milton Friedman generally described himself as a classical liberal.
Classic liberals don't exist anymore.
Baby Driver They are rare, but around.
Friedman did pretty much the same for me. I used to be a classical liberal, until I actually heard the arguments for free markets expressed eloquently. Because they do make sense.
This may be too deep for a great many Americans. They embrace a foreign reality that makes this man's intellect unintelligible.
I just hope there is a shred of individual intellectual integrity left in their collective hivemind.
Josh Trick What does that have to do with you not having a clue about what Mr. Friedman is saying?
I love how people like you resort to name calling when you are brain locked.
Except he was from America so what you said makes no sense...
Unless you're talking about the liberals, in which case yes I agree.
foreign? oh you mean the people doing better than you in many respects? I mean, America isn't a "great" country anymore. so what are you really criticising here?
That term was previously commonplace.
His response to the woman who challenged his equal pay remarks is the best thing that I've ever heard.
Somebody needs to make a Milton Friedman Thug Life video.
I've watched every single Milton Friedman video on RUclips. Thanks for sharing this video.
Btw Libertypen channel has great Milton Friedman videos. I suggest anyone who is interested to go watch. Further more his Free To Choose series is amazing; I encourage everyone to watch every episode.
www.freetochoose.tv/broadcasts/ftc80.php
Yeah. Great compilation. God, I miss Milton.
He's burning in hell as we speak.
John Mulligan source?
More people need to think this way.
When he said not an individual society, but a family society he blew my mind
Sadly we are moving away from the family society he speaks of, though his philosophy still applies more than ever.
let me blow you away even more, we are a human society and actually care for each other, counter to Milton's beliefs.
100% inheritance tax.
Would that mean that the government would own all family farms in 1 generation?
I don't know what the right answer is but inheritance taxation does help limit the creation of kings and queens. The Johnson and Ford families are into their third and fourth generations. America was founded as a deliberate break from all monarchy we need to be careful about letting it be disguised as inheritance.
The correct answer is adherence to the Constitution of the United States of America and holding the elected officials to upholding the constitution. So what if the Johnson and the Ford families are into their third and fourth generation, they are also been providing jobs for that long. Wealth creation does not happen in a vacuum.
+xygnusx We are in a situation now where the wealthy own the politicians. This is in direct contrast to what the founders had in mind when they created the American Constitution.
I would say that any society that lets their government get to the point where 100% inheritance tax prevents the creation of kings and queens, doesn't deserve liberty.
Remind you of anyone?
+alex1020 I agree that 100% inheritance tax is unreasonable. It's not possible to achieve anyway at best it would be the nominal rate. I think there does need to be a balance though because I don't believe it's heathy for a society to have so much economic power in the hands of those raised in privilege. It does become monarchial and unconstitutional.
"I'm on your side, but you're not" BEST LEFTY REBUTLE EVER
Brilliant aa usual. We need 100,000 Milton Friedman's teaching in college right now.
God bless this man. 25 year old millennial who over the past year has listened to the likes of Bill Buckley, Thomas Sowell, and this man. Capitalism is the essence of America! 🇺🇸🇺🇸🇺🇸
"I'm on your side, but you're not!" sums up most modern equality movements
"I'm on your side, but you're not!"
That is culturally appropriating my native american ancestry.
By being so savage.
sad to think that the people asking the unbelievable stupid questions, probably didnt listen to the answers, made their children even dumber than themselves, until the sjw model was perfected and could cause havoc as they do today
So, English is your second language?
D cider, you missed the whole point.
Jimmy Dean this guy was wrong we have proven that this syestem will die
Jimmy Dean itherwise everyone will eventually be useless and on government assistance
thats what it is for real
Wow. Thanks for uploading this. I can tell Milton was a very smart man, the bit at the end, about equal pay for equal work in regards to women was brilliant.
What do you expect? This man lived through the great depression and hardship. His generation built this nation. The baby boomers and generation x is destroying it.
Don't you get the point? If women are equal or better skilled, and the cost to higher them is less, employers would be stupid not to hire them! They would suffer a penalty, because they are paying men more to get less skills. So if women are just as skilled as men, equal pay laws HURT them, because then a racist recruiter at a corporation can hire men for just as cheap as women. Whereas if no equal pay law exists, and he gets a male candidate and a woman candidate who is better skilled, he would hire the woman not the man, especially if indeed they are being "paid less", then the company "pays less" to hire them. In turn this would encourage more companies to hire women.
Personally, I've actually noticed more anti-male discrimination in the recruiter world and sales world I work in. They often hire pretty women with little talent.
What you COULD argue is there is "anti-ugly discrimination", whereby employers discriminate against UGLY women. That is probably totally true. But beautiful women get paid higher than men even when they have less skills. I see it happen all the time.
But how can you solve that? Legislate that employers cannot discriminate against "ugly" women? But then you would have to LABEL that woman as "ugly", which would be humiliating for her.
I think you meant to say every generation after his generation is destroying it. It's getting progressively worse.
+TexanIndependence Hypothetically, say a man and a woman do equal work and the employee is sexist.
Depending on the income, a dramatic difference in pay would not effect the employer. Maybe to a small business where costs have to be watched closely, this would be true, but to a highly profitable business the cost is negligible and the employer is making their money regardless.
The ignorance of not knowing how much coworkers are earning ruins the concept as well, since a woman not knowing if she's being paid less than her male peers prevents her from knowing if she's voluntarily accepting a lower level of pay as incentive to the employer rather than selling her time competitively and once she has proved herself she should move on.
In theory it makes sense to curb discrimination by attaching a cost to it, but all that really does is make it a status symbol.
For many, they don't want to play these games to decide who is better. They just want to have a respectable income and get on with their lives.
If we rely on the free market to fix everything, it might eventually erode into something we like, but in the mean time a lot of people are going to receive an undignified standard of living that peers of equal quality are not subjected to. I'd rather not waste lives trying to prove a point when we don't have to.
If part of the strength of a nation and the incentive for hard work is family, then it's bad national policy to allow stupid business practices like open discrimination. We want businesses to be successful providers for families, despite their ownership's reprehensible opinions.
+sirdeadlock and the employer is sexist*
The record of history is absolutely crystal clear. Word.
This is really great. I'm 21 and so sad to say I've never even heard of this man. It showed up in my recommended videos.
Don't be too sad. To have found him as early as 21 is quite fortunate.
Notice the students are quiet, respectable, and civil.
You don't see that when speakers come to campuses anymore, if at all.
3:30 "parents have every reason to expect that their children will have a higher income than they ever had"
Man those were the days
It still is.
1:39 Napolean Dynamite didn't stand a chance
The guy is misguided beyond words. Incredible ignorance and stupidity.
Dr. Friedman gave the most eloquent and powerful critique of "equal pay for equal work" I have yet seen.
Milton becomes even more relevant as time goes on.
His wisdom is timeless.
Now one deserves anything, nothing is owed to you whatsoever.
That statement is true, but a tough pill to swallow.
I made my peace with that.
Brilliant man. R.I.P Milton Friedman.
"the great achievements of civilization have not come from government bureaus."
Best Example: North korea vs South Korea
"is there not one of you who would say you wouldn't want a doctor to treat you for cancer unless they had had cancer? "
God damn, what an example.
My friend introduced me to Milton Friedman during uni and I've been hooked on him ever since.
The wage gap argument is profound. Basically, if you dont get it, what he is saying is that setting a wage floor will hurt the individuals, in this case females, that are underpaid because of a lack of skill.
Ironically, we see this exact same idea come to play during the discussion of min wage and the effect on African American youth. If you set a wage floor and there are individuals who do not meet it instead of getting paid more they are just excluded until they somehow, with no wage or capital to invest in themselves or sharpen their skills, can get hired. Absolutely profound to think about. The one true advantage an unskilled worker has is to get paid less. It may sound bad but it is counter intuitive to the idea most people have.
Think of it this way. If you are only hirable at 8$ an hour because your unskilled and the min wage is set at 9$ an hour who would hire you! you are effectively condemning yourself.
The wage gap is a myth, I hope you know that.
+Nuclear Cupcake65 you tell that to someone who believes it and you arent doing anything to persuade or show them why it is a myth. bottom line, it is way more impactfull to understand why it doesnt work if we give them what they want.
so yeah, I already figured that out. you are way behind. however, if you can explain how it would damage what they want it has a greater effect.
@Joseph Lau the first thing that comes to mind is that the ceiling may stunt the growth of profit. When companies make decent money inside a competitive market they are forced to reinvest or get undercut by someone who will. It also strikes the idea that price is a common deterrent for demand. The higher the price the less likely a resource is to be used. Gas shortages raise gas prices so people use less, while lawn mowers are not a renewable resource if business does not charge prices that reflect the ability to meet the demand based off of how much time their workers can provide it leads to slow growth. The reason we let free markets in capitalism dictate price is because it isn't drawn by a biased stakeholder like politicians that can be bought. Lets not forget price is determined by how much i will pay and how much you will sell for. Its a negotiation through win win, people seem to forget that nobody forces you to pay high prices or work for low wage. Their will always be a supplier when demand is near.
Milton Friedman was a brilliant man. His theories and his beliefs speak to a practical, honest view of life and work and society. He wasn't racist or bigoted, he was straightforward and spoke well to how anyone and everyone could improve their lives through hard work and free enterprise.
Looking the capitalist societies and the fact that wealth is concentrated in the hands of few while working class is getting poorer, his theory was utter nonsense.
Never heard of him, but it was in my recommended box so I clicked on it.
And this guy may be legendary.
Thanks for this. Milton Friedman was one of the greatest economists we've ever had. Also, that guy at 4:52 is incredibly handsome. No homo.
Heh heh. I thought that too. I was like, Damn! That guy is great looking! No homo either. Ha...
Omg. I will admit this is the first time I'm hearing this, and I am just floored by this man. His message is just great and he articulates it so well, without emotion, just the straight facts. When speakers get all emotional, to me at least, it takes away from the validity of their argument. They only know the facts of their side of the argument. This fella has his head wrapped around every fact.
The equal pay for equal work response was absolutely brilliant
When I was in college studying economics in the late 60's and early 70's, the professors considered Friedman a pariah because he didn't agree with Keynesian philosophy. But when I was doing my senior thesis 40+ years ago I came across an article Friedman had written in 1943 discussing the problems with welfare. Even at that point he'd recognized that all the incentives built into the AFDC program were creating huge disincentives to get into the work force and off welfare. He also proposed a solution that made a ton of sense to replace it called the Negative Income Tax. Unfortunately it's never been adopted because a certain political party knows that if it were, they'd no longer be able to count on 85% of the black vote.
Friedman was a genius. Thomas Sowell is carrying on his message, and is brilliant in his own right. But Friedman was the visionary who swam against the current of economic thought for his entire life. And has now been proven to have been correct all along.
"I'm on your side, but you're not"
Legend
Wow....I just found this video via another channel. This man speaks such truth. Thank you for posting and keeping the truth alive
I can't believe anyone would give this video thumbs down. These are really good points made by a great economist, whether you agree with his views or not.
Starting at about 6:55 is one of his best segments ever. That doctor cancer comparison is so basic but we also never really hear that perspective.
Great quotes, but you wouldn't be much of a world-class economist if you can't wreck a few college students and liberal talk show hosts. :D
If you watch 'Free To Choose' (all episodes available on youtube), at the end of each episode there is a discussion where Friedman's opponents range from politicians and economists to union officials.
Notice how the interviewers and (most of) the young people questioning him allow him to answer and are fairly respectful. Notice the relative civility. Compare that with how speakers are treated on campus today by the racist howling mobs.
Donahue looks like a kid in class trying to understand a subject without doing his homework before showing up.
One thing Milton was absolutely the master of, was getting the questioners to actually state their intended goals. Like the OG hipster in the second segment, he was talking about luck as a role in economic performance and how it's "fair" for the government to intervene in this case. Okay fine, let's drill down until you say what you really want. 100% death tax? Now Milton unleashes the logic and philosophy on him.
The amazing part is that people like this likely spent days prepared to stump Milton, and Milton, on nothing but his education, still effectively countered. True genius in economics, statistics, logic, and philosophy.
A brilliant man.
Wow..... Milton Friedman is AMAZING!
That last point he made was really interesting and something I hadn't thought of.
Last girl asking the question on equal rights could be Cara Delvignes mother. Big props to Milton, long since Ive heard such relevant answers told so gracefully.
Look at the difference in these discussion panels between now and then
He was great. What a teacher and he came from a place of honest want to have folk leave each other alone. Really amazing.
Can you imagine if Fridman spoke at Berkley today? They would torch the place.
Friedman had the original Ultra Instinct
The clarity in his answers. Mind Blown!
12:29 a young Cara Delvigne (sp?) wells up with indignance, unaware of the Fatality about to be unleashed upon her
Lol. Exactly what I thought.
His answer to equal pay discrimination is for the women to accept the lower wage until it becomes too costly for the owner to higher men. Milton is a smart cookie at face value but he seemed to create a world model that is over simplified. Good video though.
I think you mean "hire" men. :)
Although that implies that most business owners are able to see past any personal beliefs, prejudices or just subconscious biases they might have for male, or against female, employees and objectively judge their performance. In my experience, most people base decisions on their gut and custom - in which case they may never come to that realization.
+gammarayOwn Friedman is addressing your point directly. Business owners who hire employees based on irrelevant factors must bear a cost for their poor selection, and that cost can be quantified by allowing people to charge whatever they want for their services.
Without allowing wrongly-discriminated groups to charge less for their labor, the market cannot punish poor decision-making.
''I am on your side. But you're not!'' LMAO!
"I'm on your side -- but you're not." Ha ha ha...genius.
Come back form the grave Miltey baby!
He said the word "negro" so now I don't have to challenge my world views.
"I'm on your side, but you're not." About sums it up with so many matters of economics. People just don't get it. Friedman was so brilliant.
Absolutely, Uncle Miltie.
Your wisdom has dominated the thought-processes of those who have employed (or failed to employ) me for my entire working life.
I feel so fortunate to be a migrant within my own country, to have been given the opportunity to break the stultifying ties of family and hometown and drift hundreds of miles away, so I may truly enjoy the best corporate life has to offer.
I am now 54. Too old to be useful to the corporation. They will be letting me go 21 days from now; 15 workdays from now; 2 paychecks from now.
My father is dead; my mother has gone mad; and my sisters are estranged.
Yet I worship at the feet of our dearest Uncle Miltie.
I've never heard of him...holy crap...he is/was a genius.
I studied him in school and also studied Keynes as a contra to him and I always thought his ideas were perfect. Actually I didn't know that there was actually footage of him because I imagined he lived sooner. :)
Spend a day watching some of his full speeches and interviews. He's got a slightly dull way of presenting, but he's a genius. It's hard not to love him.
Exactly! This is what I hope my gentile friends are to understand. Friedman puts it so concisely.
1:39 Napoleon Dynamite tries to challenge Friedman.
This was depressing. Reminds me that as time goes by this generation will be lost to the annals of history. He lived during the great depression and knew what being poor really was. Ana Rand was another one. Great thinkers like these are gone and will never be again. Today we have generations that don't know what hard work and hardship is. All they know is what they are told in school. The future sure will be interesting.
Things keep going the way they have been this generation is going to learn what a Great Depression actually is. And what poverty actually is.
1337penguinman It took Venezuela a little over 20 years to get to the depression they are in now. I am thinking that once we go full out socialism it would take more then 20 years because this nation is a lot richer. I would say after 8 years of Hillary Clinton America will elect a black or Hispanic version of Bernie sanders and from then 30 to 50 years to the great depression. So maybe 50 to 80 years from now. Hopefully I will be gone by then. By those who are 18 to 25 will still be around. You will get the government you all deserve.
Keynes also lived through the great depression, but his conclusions are the exact opposite of Friedman's.
I Guess he just didn't know the value of hard work like ol' Milton did, right?
also, Americans are working longer and harder than ever, stress illnesses are skyrocketing, as are the consequent mental health disorders, they are also per capita more productive than people from YOUR generation, yet make less in real wages.
so much for the lazy millenials argument you pompous sack of shot.
ohmandamp Keynes lived a life of privilege. He didn't suffer through the great depression.
+Jimmy Dean I think your timeline for how close we are to another great depression is far too optimistic. 19.5 trillion in debt, plus over 120 trillion in unfunded liabilities (eg social security). Our monetary system is already one big, over-inflated lie. We're already at a point where the interest on our debt is untenable, yet printing our way out of this will cause hyperinflation. It's just a matter of time before the brain realizes that the heart has stopped beating.
And now, we're about to elect a President (Hillary) who thinks we should just spend more money, riiiiiight. We won't make it through her eight years before we collapse(especially as it's coming time for the Boomers to collect their social security money that the government has already spent).
1:39. Why was Napoleon Dynamite so angry at Milton?
That wasn’t Napoleon Dynamite…..
That was his dad
Boom
Saw a homeless man the other day with his iPhone - go to Africa in the cities and you will see horrors you cannot forget - we aren’t perfect but even with millions of immigrants we keep growing the pie for all
Preach on brother! Common sense is always in style
1.42 an appearance by Napoleon Dynamite. The Friedman Years.
It seems as if half of young males in the 70s were Napoleon Dynamite lookalikes.
Wow! This man is a social genius! Why isn't he more mainstream?
Dude was crushin' SJWs in the seventies!
He's so funny and smart goddamn it, rip
"Thank god we don't get what we deserve"
Such a pity liberals refuse to take advice from this intelligent man.
I never heard of this guy but he's chock full of reason.
That's because the Progressive movement has spent the past 100+ years destroying public education and making sure no student gets exposed to conservative principles. Friedman was a brilliant Nobel Prize winning economist and political thinker. He won his Nobel in 1976. If you're under age 40, you should have studied him in school. But you didn't, because the Democrat machine needs you to remain ignorant, liberal and government-dependent.
McScott76 My opinion of conservatives from the media and my raising are that they are firstly republicans and are in two distinct camps. The two camps being the stupid or the extremely wealthy that take advantage of them. This is really the first time I've heard a conservative that seemed so intelligent that it wowed me. There needs to be more of this type on that side rather than the circus it has become. Not that the democrats are any better. I have an open mind on politics in general however, as I know that I really do not understand it and my opinion is worth next to nothing.
Sounds to me like he's Libertarian. But I don't take any sides, so...
One of the best, “best of” videos!
For Every Milton video you watch, your IQ should go up 1 point 😊
at 1:30 -- my question: why are socialist leaning/SJW types so unaware of even basic facts of human nature -- their own nature? It seems that this is the mentality that propelled the Soviet empire to prominence and to what Orwell described as 'a boot stepping on a human face, forever.' this notion that human behavior can be forcibly elicited toward the satisfaction of a mechanical, government policy. Not even the most brutal behaviorists would humor that notion (of course many of them emerged during and after WWII and rejected eugenics.)
They're educated in public schools by other socialist SJW's. "Progressives" benefit from voting public too stupid to see their schemes for what they are.
It does seem like the only intelligent people in the modern progressive movement are at the top. Yet most people don't see this as a precursor to the rise of a totalitarian state.
They are brainwashed. The 'school' indoctrinated for 13 yrs and then went to college to lose any ability to 'think critically'. 'Intelligent people know when they are not educated. But, educated people are never aware when they are intelligent'.
fntime I say we are inching toward national socialist dictatorship
National Socialism (i.e. Nazism) is a fascist ideology. It is a far right-wing ideology. Although it contains the word socialism, it is the polar opposite of socialism. But you are correct, there is a movement toward fascism on the far right in the U.S.A.
Complete rubbish, there is no free market free from manipulation. Native Americans weren't poor, Mongolians living in tents are not poor. Just because someone doesn't have lots of products doesn't make them poor. There are 8 billion people running around fed and expanding, many not part of free markets.
"You keep using that word. I do not think it means what you think it means."
noble savage fallacy
Why are you speaking for the Native Americans and the Mongolians in tents? You want people to remain living hand-to-mouth in harsh, harsh country they can't afford to leave just so you can fawn over their quaintness? Yeah, you're a real gem.
Nothing prevents you from moving into a cardboard box in some forgotten alleyway. Since you are spewing bullshit on the inter-webs, you chose the lifestyle of a hypocrite over that of the "noble savage".
"We must progress to a point of regression." -Dragan man
Does anyone know if Milton Friedman ever spoke about the US National Debt and if so, is there a video on line?
This was like a symphony to my ears.
He's smart but pretty disinegnious or maybe a bit ignorant on greater history. Modern capitalism wouldn't even make up 5 seconds on the clock of human history. The great empires of our past gave their citizens life styles just as well off as ours, if not even more well off (for example, even peasants in medieval Europe were MANDATED to have less working days than modern Americans). All the great wonders of our world, created by strong empires, not corporations or free markets. Space exploration was pioneered by GOVERNMENTS. GOVERNMENTS put man on the moon, not private enterprises.
The only advantage we have over our ancient ancestors is modern medicine...which was brought to us by GOVERNMENT legislation and GOVERNMENT funding and has now been HIJACKED by modern corporations who hold citizens hostage with medication they desperately need. Modern corporations who bribe and corrupt the government to allow them to shit on consumers so they can improve their annual fiscal reports.
And all this in the face of the fact that the moments in our history that had truly WORKING free markets that allowed both private enterprises and consumers to prosper was when strong governments enforced such systems. The Roman empire, the Han, Tang, Song, and Ming dynasties, Babylonia, etc.
More government less freedom to the individual. As far as your statement about only governments can put a man on the moon, consider how far private enterprise has advanced with the freedoms they enjoy i.e computers, private industry, private schooling, etc etc....when a government spends tax payers money they never spend it wisely whereas a private enterprise had limits and has to justify their spending unlike governments an example is obamacare now known as affordable health care, initial budget 890 billion real expenditure 1.4 trillion dollars and heading for a complete failure.
Oh ya, BP, Exxon, Halliburton, Bank of America, GM, Black Water, Monsanto, etc. all had their limits to keep them in check lol
individualist capitalist ideas are becoming outdated cause countries started to embrace mixed economic views which benefits more. when china becomes world s 1st superpower, noone would even care about outdated radical capitalist or other way communist ideas
Did you at least google who Milton Friedman is? A nobel prize in economics. Who are you?
So he must be automatically right in all of his assertions. Appeal to authority amirite?
I like his view on equal pay for equal work. It makes so much sense. The same is true of a minimum wage. I don't know why I never saw this before. It makes perfect sense!
I love this man!
There needs to be a Milton Friedman Thug Life channel.