Milton Friedman: The Future of Freedom
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- Опубликовано: 22 июл 2024
- To skip the introduction, click here: 2:35.
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 leader of the Chicago School of economics.
In this lecture from a 1987 California Libertarian Party conference, Friedman attempts to pin down the likely future of freedom-and the future of libertarianism-in America. In this general lecture, Friedman introduces moral and utilitarian justifications for libertarianism and talks about why America seemed to be moving away from socialism and towards liberty in the latter half of the 20th century.
Download the .mp3 version of this lecture here: bit.ly/T3m0Yx
The fact that all of his videos don't have 100,000,000+ views explains a lot of what's wrong with people's understanding of society.
sooner or later im gonna run out of milton friedman videos to watch.
Then I will have to re-watch.
Same here.
I thought I'd run outta them, until I stumbled on this.
I want a full collection of every recorded piece of media involving Milton Friedman
- all speeches
- all books
- all articles
- all lectures
I want his entire life works. I will settle for a digital file but I want a physical box set
Don Wolfberg
Then start downloading all the lectures before they get deleted. His books you can probably find in used books stores. Articles are available from most periodicals in their Archives.
Welcome to the internet.
I collected already , i know one day all will banned.
Milton Friedman is a rock star!!!
makes me cry that he never ran for president or any public office. just because of his amazing communication skills. this guy can talk anyone out of socialism in an hour.
Except for Thomas Sowell, ba,ha,ha!! Thomas said he was stubborn, took him a while
@BP 27 okay but if Milton was able to become a senator or serious presidential candidate he would've been given an even bigger platform. Even if he simply had a Goldwater shakedown which reminded the Republicans about the party of Robert Taft and Calvin Coolidge. It's regrettable that he didn't run because we may hear about him much more today had he done so.
He said that if youre given the power history shows that you will use it. Thats a great reason to never accept it, shows what a character this man had
@@brainiac006 Washington did pretty good, even if with his federalist big government leanings, he still set the example of two terms and then stepping down which lasted until Tyrant Roosevelt
He chose being an economist. Not a politician. He accomplished more through that than politicians do. As well he did not have the ego for politics
That look on his face when he says,"I shouldn't say education; Schooling."
haha he was disgusted AF
Note that the Prize for "Economic Science" was not created by Nobel, it was created by the central bank of Sweden, the prize changed names 10 times. "the Nobel Prize confers on an individual an authority which in economics no man ought to possess...." --Friedrich Hayek
Great video!
*Sees Milton Friedman video in subscription box* Whatever I'm supposed to be doing for the next hour I need to cancel it.
Never gets old Milton thank you
81 fantastic minutes of Milton on top of his game - a real pleasure.
Many salient points were made. One of them: Don't fall into the trap that it's the rate of taxation that's the problem. The problem is the rate of spending. All spending is paid for by some form of taxation - be it income tax, sales tax, debt or whatever. Government spend other peoples money. It has no money of it's own.
This was awesome 👍 prime example of a truly first principles independent thinker 💪
Love this man!
Minute 53 is marvelous.
Milton Friedman is a gift to mankind.. even 40 years later
Brilliant speech. Thank you very much. Interesting to listen how much socialism was looked at with such disdain at one time. Let's hope history repeats itself yet again....
Young people are fed socialism, they don’t question, know history or investigate for themselves. Blind acceptance.
One of his best speeches
I just learned a new term I'm going to start using: "Federal Bureau of Public Schools"
"we tend to underestimate the fragility of a free society...It may well be that free society is an unstable equilibrium"
2021, ain't that the trutb
Does anyone know the name of the study Milton refers to at 1:10:33?
Also at 1:08:10 a man asks a question which I'm presuming refers to a controversial view Milton held based on his response. I couldn't hear the question though. Anyone know what that view might be?
Michael McKee , I wish I knew what the comment was as well. Obviously not something that Milton was entirely comfortable with in as much as he did not repeat that particular question.
It was, effectively, asking whether Milton intended to make his views on 'hard' drugs more widely known - Milton' response is clearly heard.
About the study, try searching, using the words Milton uses?
1:19:25
💛
1:19:22
Too jokes.
lolll
What if RUclips goes down?
Milton says inflation is the best way of reducing the minimum wage.
I mean if we leave it at 7.25 for another decade, inflation will have basically eliminated it and youth unemployment will plummet as it was doing in 2019, but the insane inflation of 2020 will only help that situation. While hurting a great many others. This is all contingent on the minimum wage staying 7.25
private property rights, laws of tort and enforced contracts is what sets capitalism apart.
revisit it in 2021 and now companies can clearly breach contracts as long as the other company is conservative ran
@@immaculatesquid No they can't. Just not enough cowards go to court with such shit.
Dr Friedman...Tom Sowell.. Larry Elder.. Dr Peterson... they make their mark. Imagine if they did not exist???
Milton is laughing 3:17
I love how, with the increases in our schooled population, advances in technology and wealth of experience, government gets smaller, leaner and more efficient by the day.
(That was irony).
275,000,000,000 people CAN make any changes they want, overriding a handful of elected public servants.......yet they DONT. That many carpool 1 buck each to buy ANYTHING
In the 1950's the term 'libertarian' in the United States came to represent the ideas of classical liberalism. This was necessary for those who held such views since the term 'liberal' had come to describe people who had previously called themselves 'progressives'. Since 'liberals' are now calling themselves 'progressives' again perhaps 'libertarians' can once again call themselves 'liberals' and give classical libertarians the term 'libertarian' back and you can stop bitching over semantics.
I wonder what Milton Friedman I would say about this election. Moreover I wonder what he would say about the doubling of our total currency at the moment. I know what he would say he would say that's 50% taxation without representation. Boy socialism is great huh. Now that we have Biden for a president we can all rest assure that he's going to double the total amount of currency again. Let's see how fast we could print money. That last part was supposed to be sarcastic. I hope you all are spending money fast cuz it's going down in value
I find it hard to believe the American people would want a Socialist President as America is heading down the socialist path. History has proven it unsustainable.
@@masada2828 it seems to be the tyranny of the majority, they all want something for nothing because they believe there is a robber baron who should pay. Of course, jts wrong but thats what they are fed by main street media.
Deplorable Kulak...that is a great name.
I wish the audience would have been more reserved with its laughter.
Nope, Milton loved it, he was always trying to suppress a giggle
I think it will eventually, but it's a bit disheartening that it keeps rearing it's ugly head time & time again. I'm in the middle of reading Capitalism & Freedom at the moment and while I'm still studying Austrian vs. Monetarist ideas, I've really enjoyed Milton's chapter on Monetary Policy, specifically his criticisms of the Federal Reserve and why pre-1913 banking conditions were, based on empirical analysis of his, more ideal for a market economy; a notion which Keynesian's would scoff at ;)
Omg 1:19:21 that so funny
No businessmen will say anything outrageous. *Enter Trump*
Obviously they have free speach altho it should be better provided for that speach does not become prid-pro-quo.
But partlly I can not belive Mr. Friedmann would make such an argument. Speach is not free when the consitions of once live make you depended on somone else- or in this even lesser lessen your economic oppertunity?
I mean I agree , that`s another reason why there should be some type of very basic safty net that enshures people do not suffer healthconditions, homelessness, lack of halthy food and hygine, education, becuase those happen to be essental to be being a free person becuase they maintain the two things that give every human being the dignity of freedom in the first place. I do not think more then something approximating the room of a capsule hotel, but one with actual rooms, should be given to a person (and more to a fimily, or rather something connected that has larger space for children), to contrast that with more current things, but I think the survial and health and safty of the people inside a socitey must be maintained.
To get people out of poverty I do think non-taxation for people needing assisentance and a tax that only starts from whatever that amount is foreward for everyone else is needed, not a goverment programm. I think if there can be basically a type of public-housing that catches those people safly and they then have this non-tax and education opertunities then you do not need a welfear state that is large, or intrusive.
In contrast to a homeless person in desperate need for a job I would however say a buisness man making wothwile money is not in a state of cohersion.
But it does intertwine somewhat, dosn`t it? Your fundermental liberites (the body and thinking/speach) are always the things you can`t do harm to (or negelect harm being done to, even by consitions) without ending up somehat endangering the whole thing, even if to different degrees
I guess I am not a libertarian, I am a pro-restricted goverment person, not even small goverement, but goverment who`s powers are just very narrow and defined as to be used only in the persuit of the freedom of the citicens (and possibly other people(forgien aid or so might under some condtions be needed or advisable), but in generall or necesserily only the person)
But like freedom being more defined like Lockes, so people have inherent dignity, that dignity comes from that by nature owing their body and their speach/thinking. So.
I love M.F., but I have never heard him mention God or credit God with the creation of America. George Washington knew God was with him and protected him during all the battles he fought. G.W. was always on the front line leading the charge and he survived by the grace of God to establish America. This was no accident. In God we trust. I think Mr. Friedman is/was an outstanding economist, but on this point I wholeheartedly disagree with him. Our freedom was no accident. God Bless America!
I think many believe it was providential too. It is hard to remember that when we look at America today though.
The founding documents create a “wall of separation” between church & state for good reason. The 'in god' stuff isn't something for a state/ government to espouse - that's theocracy, the very system that settlers to America were trying to escape!
Why credit deities with anything, man has created 1000s of gods, most are now anachronisms, fortunately. As a species, we need to remove the final few & emancipate ourselves from mental slavery.
The bible has something to say about brandishing ones beliefs in public for effect ...
I do think one of the things seperating me and Friedmann is that I like capitalism for two things- it provides people independence and it aliviates poverty. I don't like it initself or for itself however, it's more well that's an instrument to human wellbeing.
So my liking it stopes when it comes anwear near non-fullfillment of those things, because then it has become useless.
Long live communism and freedom
Here is why Milton Friedman is wrong. People need to understand that there are two completely different dominant economic theories floating around out there. One economic theory is nonsense, one is not. One can be debunked through data, economic history and logic. Milton Friedman is a neoliberal free market conservative supply side economist. Keynesian economics are demand side.
Most economists agree that the US has transitioned to the right economically over the last 40 years, adopting Reaganomics and Milton Friedman’s economic policy ideas. According to Ronald Reagan’s own budget director, “In 1980 the top 5% Americans were worth $8 trillion, today they are worth close to $48 trillion, while the poor and middle-class has had stagnant wages.
Conservative politicians and economists state that the left wants to do a transfer of wealth, what they don’t tell you is that there has already been a transfer of wealth. According to analytical studies, the top 1% have gained approximately $50 trillion from 1975 to 2018 years while the poor and middle-class have lost out. Americas 700 billionaires added $1.7 trillion to their pockets during the pandemic while the poor and middle cross struggled.
It’s not only that wages have been stagnant, but there has also been an attack on unions, healthcare costs, education cost, cutting social programs, deregulation etc, these all add up to even more out of pocket expenses for the poor and middle-class. This all falls under Milton Friedman’s philosophy that big government is the problem, and that small government is the solution.
With this Conservative economic philosophy, corporate tax rates and tax rates for the very rich are the lowest they’ve been in many many decades, in fact, for the first time in American history the poor and middle class are paying a higher tax rate than the rich. Due to deregulation and under funding big government programs like the IRS, most corporations pay zero tax. In the past corporate tax revenue contributed 30% of government revenue now it’s under 10%, with trillions of dollars of unpaid taxes stored offshore. Decades of low corporate tax rates for the very rich has not stimulated economy for the poor and middle-class.
In the US deregulation has soared, privatization has soared and conservative free market trade policies have destroyed the manufacturing base. Just like Chile, the US is now the most highly unequal industrialized country in the world, it has the highest incarceration rate in the world, while progressive Keynesian economies like Norway just shutdown four prisons due to lack of crime. Norm Chomsky described Milton Friedman‘s ideas “As free market fantasies.” Conservative free market economic policies only cause concentrations of wealth/inequality, poverty, death and suffering.
According to conservative economists, Keynesian economic polices produces inflation. Did Keynesian economic policies implemented by FDR produce massive inflation? Of course not. Secondly, printing money does not cause inflation, inflation is a result of supply destruction of major commodities, which is exactly what happened in 1973 during the oil crisis in the US. Japan has had three times the national debt that the US has had for over 30 years, yet the are struggling with deflation.
FDR’s Keynesian economic policies produced strongest middle class in American history. Milton Friedman stated that his free market policies would produce democracy, this certainly did not happen in Chile. The economy in Chile worked wonderfully for the top u1% of course. If Friedman‘s ideas were so wonderful, why did the Chilean people reject his policies? The Chilean people should be jumping up and down on the streets praising Milton Friedman, yet they are rioting in the streets.
Statistically, 80% of the Chilean people have no money left at the end of the month. Senior citizens receives $180 per month. 33% of Chilean GDP goes to the 1%, that’s higher than almost anywhere else in the world.
The propaganda that the middle class in Chile has grown under Milton Friedman’s ideas is nonsense. A person making $180 per month in Chile is categorized as being middle class, this is how propaganda from conservative rightwing think tanks like the Cato Institute, Liberty Pen, Free To Chose etc skew the data to make Milton Friedman look good.
For a family of four, a middle class income is about $650 in Chile. The richest 20% of Chilean people make anywhere from $900 to just over $1000 per month, this is far from being rich. Just like the US healthcare is privatized in Chile and most people don’t have access to it because they can’t afford it. Utilities have been privatized and they are expensive. Over 80% percent of the Chilean people want Milton Friedman’s/Pinochet’s policies reversed.
I guess the greatest example of a free market libertarian society is Somalia. The US is close to Civil War, just like Somalia. There are basically two kinds of conservatives out there, conservatives who know that pure free market policies are nonsense and conservatives who are true believers. Either way it’s bad.
Michael Pantazis
lol
@barryweiss9977
That's it, just an LOL? Come on you can do better than that. I get these kinds of dumb comments from Milton Friedman fans all the time.
How about this, pick any one of the statements that I made and disprove it. The Chilean miracle, the Iraq free market experiment, deregulation, concentration of wealth due to conservative economic policies, comparing free market based economies to non-free Market based economies etc.
Anything you want. Looking forward to your reply. Make sure I get back to me now.@@barryweiss9977
@@barryweiss9977
That's it, just an LOL? Come on you can do better than that. I get these kinds of dumb comments from Milton Friedman fans all the time.
How about this, pick any one of the statements that I made and disprove it. The Chilean miracle, the Iraq free market experiment, deregulation, concentration of wealth due to conservative economic policies, comparing free market based economies to non-free Market based economies etc.
Anything you want. Looking forward to your reply. Make sure you get back to me now.
@@surreallife777 I will I promise. But I'm tired now.
@@barryweiss9977 : No problem looking forward to it.
1:18:35
1:19:21