Milton Friedman - What is America? (Lecture) - The case for Liberty vs. Socialism!
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- Опубликовано: 13 апр 2012
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Prof. Friedman’s lectures are pure Gold. I have my children watch his lectures to get an economic education that they could only dream of receiving at their schools. His ability to explain very complicated issues in a clear and concise manner is simply amazing. He is greatly missed!!
One thing that amazed me. Everyone asked good questions and respect went all around, both left and right. There was no shouting, spiting cursing, or name calling. It is truly sad what has happened to debate and free speech in our universities.
Although sad it's been a well known phenomena since at least the mid 90s I have a video of Hitch talking about it on my channel.
What's the name of the video?
christopher hitchens | social justice
The leftist were still trying to get power at this point in our history. They needed to seem reasonable.
Agreed, but what amazes me even more is that he gave this lecture in Chicago and he was in Chicago at the University for a long time, so he was easy to reach so to speak, but still Chicago has a lot of problems due to....:-) Looks like his knowledge, suggestions fell on deaf ears in Chicago city hall
how can any sane person disagree
What a great mind. You have to respect great intellects like him and Sowell. At the heart of their argument if the fight against tyranny from busybodies who insist on knowing what better for you, whether you want it or not. It will always be relevant.
+Eric Lopez you are ignorant about economics ... Friedman is an agent of the Zionist Empire owning the Federal Reserve , the Big banks, supporting Walmart, Home Depot and other oligopolies like oil, medicine.... He is a proponent of free trade ... meaning big business brings offshore to use cheap labor and bring it back to America without paying taxes.. Big business dont pay benefits to their Chinese, Mexican ,and Indian labor.He mumble jumble words to confuse , but free enterprise means killing the middle class... He was right in some aspects such as unions, AMA, trade unions and other unions are the other side of evil in this country... GOOD LUCK !!!
+Edmund Capangpangan your myopic and racist post is amazing to read. had big oil ever put a gun to your head to fill your tank? no, then might want to take off the tin foil hat.
You're all free to go to North Korea to follow your state-sponsored dream.
BiL Zenovic If you're referring to China, politically they are communist, but they have embraced most free market principles in the last 30 years, which has lead to it's recent economic boom. Second, we borrow because we spend more than we take in. Last year our government took in 2.4 trillion in tax receipts. You can always spend more than what you make. That isn't a indictment on what you call "American Conservative Capitalism", that's an indictment on politicians buying votes and spending more than we take in.
Again, China's economy has steadily become more market driven. It is only politically that it's still a one party communist country.
Spending is the problem. The "rich" don't get taxed enough? Get out of the bubble and look at the data. The top 10 percent pay the overwhelming amount of all taxes paid in this country. Half of the country is tax neutral or tax negative, meaning they take out of the system more than they pay into it. I own my business and pay 40% of every dollar in taxes. How much more do you want from me? Who's being the greedy one? The only reason that there is so much money offshore is the ridiculously high corporate tax in this country. In a globalized world, people will just put their money out of the country. Socialist like you think the answer to the problem is to find a way to confiscate that money against the owners wishes. People who believe in economic freedom like me know that the way to get that money in here is to lower the tax rates.
Thank you for providing this document. The thoughts of Milton Friedman are forever relevant.
Watching this just makes me sad. Where is our modern day Milton Friedman? We need more men like this, where are they? Ron Paul perhaps the only one left...
Ben Shaprio is out modern day Milton
Gimme a few years I gotchu
Trump has been studying this guy for years , Do your research ,you will notice his philosophy of a good economy reflects mostly in Trump's speech..and Trump is very emotional about it
No Trump just wants different trade policies. None of what he is doing is free market it's a different kind of constraint.
Morphing Reality it's called fair trade. but is that not what capitalism is supposed to be in the first place. people coming to a mutual agreement to trade goods or services that benefit both parties.
Milton Friedman is a genius, I am very grateful to him, to those who posted these lectures and you my friend.
The example with the pencil and the capitalist price system, which is built on the voluntary cooperation of people, as opposed to the violent coercion of socialism/communism - I think Friedman has a very high intellect and Friedman sees the system at a very high level of abstraction.
I do a sports and I see the same abstract line in sports. When I do pull-ups for joy, not for the sake of achieving a specific number, but simply for my own happiness - I feel great, full of energy and happily get up in the morning for training, but when the mind begins to force the body to perform a specific number of pull-ups every morning - after a while I see disgust in training and do not want to get out of bed in the morning and go to training.
The line between violence and voluntariness is very clear and distinct. Under capitalism, people voluntarily cooperate to gain profit, and create quality goods and services. And under socialism/communism, people are forced to do something by the threat of violence and the Gulag. The results are strikingly different - capitalism creates silicon wafers in our computer processors from desert sand, and socialism/communism turns the corpses of Gulag prisoners into desert sand, no computers, no internet.
Man I love Milton. I think the most telling thing about Milton is when he speaks you see a lot of smiles in the audience. It's strange to me because what he says sounds like common sense but it is the first time most of us have ever heard any of these ideas. Of course he is a student of Bastiat, Hayak and Smith but most of us aren't as well versed in all of their writings. Milton is able to condense these ideas into profound lectures.
22:25, I love this, it's incredible how much it takes to make that pencil, but to understand how many people benefit from something so, seemingly, simple.
Thanks for the uploads sir!
Watching these videos is like taking econ courses without having to pay for them. Difference is you actually learn here.
So we used to refuse benefits to illegals? What the heck happened?
political pandering
Benefits are still refused to illegals, he was describing the paradox of Americans receiving benefits and becoming lazy because of it and immigrants in exchange since they don’t receive any benefits they do have to work and because of it they improve their lives.
@@sazopro You may want to look up US census bureau data, the majority of illegal immigrants into the US are on 1 or more welfare subsidies and even a large amount of legal immigrants use welfare. Where are you getting your information?
@@sazopro Back in the 70s this would have been true but not today, not even close.
ZombieCorp. Illegal aliens still can’t get welfare benefits except maybe in California which is bizarroland, HOWEVER, they are able to receive things like food stamps on behalf of their US citizen children. So, officially they get nothing, but for all practical purposes, they’re still getting some form of welfare.
The only thing I can think of to say is I love Milton Friedman as though he were a dear lost family member. The world became a little less great when it lost him.
Bless you! Hope you post all the rest!
Thanks for posting/sharing, I gave it a like.
0:23 Opening: America. Is it still The Land of Opportunity? Or is it not the land of promise but growing bureaucracy?
3:34 Agriculture.
Amazing foresight
Absolutely brilliant upload.
Having been born in the late 1980s I feel I will live to see the slow downfall of the US economic system.
BiL Zenovic *(laughing) They were takers because they paid all the taxes!!! And only the rich drank tea. (OMG) Brainwashed puppet doesn't know the rich subsidize 38% of the entire middle class share of taxes. If BiL is average income, he'd need a 61% tax INCREASE to pay his own way. The average rate for Obama's $50,000 worker is 8%. For millionaires and billionaires, umm, 23%!*
(rejoin the spaces)www.irs.gov/file_source /pub/irs-soi/12in11si.xls
+BiL Zenovic Borders, Language, and Culture is what defines a Country......Liberals would love in destroying all three.
BiL Zenovic You will never have equality, pipe dream....a suicide bomber is as equal to you?
BiL Zenovic You have no facts beside self opinion and talking points from msnbc.
BiL Zenovic In political and social sciences, communism is a social, political, and economic ideology and movement whose ultimate goal is the establishment of the communist society, which is a socioeconomic order structured upon the common ownership of the means of production and the absence of social classes, money, and the state....it means that communism is the furthest extreme of Socialism you tool.
amazing....
cheers man! Been hunting for these! :D
Milton is a Giant among children.
Great. Greetings from Europe.
Hey @BasicEconomics,
Do you have ownership of this video? Or is it in the public domain? I am interested in using a clip (and would cite/grant credit) for a project. Can you advise?
Thanks!
The world did not lose his greatness. Look up.
how can you dislike this?!?!?! LORD HAVE MERCY
actually it become more great, as he spread his ideas, ideology, and political and economy belief. the world got richer which Friedman, and even more when he passed.
Are all of these lectures on DVD somewhere you can purchase?
Yes, I purchased them all at the Free to choose dot net store
In “Inheriting an Abundant Earth” a simple rule tweak on inheritance ends up changing the direction and purpose of modern human life! Here’s a fair way to transition forward! It's something specific we can demand. If this isn’t the best answer, at least we’re thinking about what might be. Are we really just this close to having it work right? Oh yeah, it's a Ski movie! Watch “Inheriting an Abundant Earth” on RUclips, then sign the petition, and share it everywhere!!
的确很有说服力
很高興聽你這樣說。請試著說服你的一些國家的人。
Wasn't there once a lecture SERIES on RUclips give by Milton Friedman? Is this the one I am thinking of?
What does Milton mean when he says chronologically this is not the first but logically it is? Time: 3:19-3:33
Does anyone know when this was recorded?
Amen, Milt
Peace, liberty, and a balanced budget.
Rand Paul 2016.
What year did this take place.
University of Chicago, Chicago, IL, October 3, 1977
The biggest factor that contributed to 19th / 20th century American growth was the free market, the oceans and the US oil rush, without the oil age none of the rest would have been possible at that time.
The dollar is still to this day propped up by the petro industry.
BiL Zenovic Too bad that that article actually is proving contrary today. Big businesses are lobbying for big government nowadays. Nice try though. Also Milton Friedman wasn't a lobbyist..... That is literally the ONLY article on the internet that says otherwise..... from a fairly questionable site with a questionable reputation. Not a legitimate source. Also, go look at Estonia. They are a Libertarian government in Europe. They are the only scandanavian country not talked about, because it would go against the socialist rhetoric. The country is doing phenomenally and considered to be doing the best in Europe. They have the lowest debt to GDP % and are getting even lower since they are paying off their debt. In fact, in the next few years they will not have a debt.
BiL Zenovic lol.... source??? I just presented you with how your article is more than likely wrong, how big companies are acting today, and a libertarian society that is around today that lives in prosperity. Try presenting a real argument rather than saying someone is just wrong.
+BiL Zenovic failures like the internet, RUclips, electricity, food, housing, and the store you bought the device to vomit your oblivious nonsense on?
your so stupid I'd bet you would role around in broken glass and not be able to explain why it hurts...
+BiL Zenovic 'freedom = slavery' are you really as brain dead as you sound? :D
Of course it would. The military expenditure especially because it's also an example of redistribution of wealth from the poor to the rich; they're mostly subsidies for the high-tech sector.
10:02 Great point here...another point against the welfare state. It curbs immigration, which is important for a vibrant, diverse economy.
17:55 I think it's safe to say, in 2017: the Golden Age is over :-/ our culture is holding back our economy...like so many advanced civilizations in the past (Greece and Rome being very relevant in what Friedman speaks of)
I hope this is good. a test to see if his book is worth reading.
How does excesses in either automatically assume justification?
Anyone here in 2020?
"Uncle Miltie". Many of us feel the same way.
I acknowledge that if all transactions remained voluntary, govt would not be necessary. However, the presence of govt law enforcement protecting people from the use of force does not negate the existence of the free market, though the necessity of taxes in order to fund the necessary enforcement mechanisms dilute the 'purity' of the free market ideal in such a society.
However, the free market mechanisms continue to operate even when diluted, and unnecessary intervention is detrimental to all.
América es un continente y punto.
You need only look at tax rates in the US and the UK. The US has, generally speaking, very low tax rates compared to similarly industrially developed environments. Even the corporate tax rate, which is supposedly higher, is so riddled with loopholes it is in effect low as well.
One person can feed himself, his family and 19 other people but at what cost? At the cost of other species on this earth and at the cost of the coming generations.
Somalia isn't a free market, it's a market of force, where the one most willing and able to use force to threaten negative consequences for non-compliance with warlord's will. It is anarchy.
A free market is VOLUNTARY exchange without coercion by the use or threat of force. A free market is not anarchist, but the government is limited to protecting individuals from force/fraud, and calling Somalia an example of capitalism or a free market (ad absurdium) is a false comparison.
Gary Johnson 2012
RUclips with its vast array and multitude of videos that have no redeeming value or information of value to the viewer is justified in its existence with the possesion of just one video like this one.
(3)
Government taxes success. It does not create it. Keep in mind, the USSR had a very strong government. Also keep in mind that many on the left here in the US strongly supported USSR and passed laws that reflected that support.
Do We Still Have The Choice?
+Gerri Lynne OUR ONLY CHOICE is to replace our congress with people avers to free enterprise , against the FEderal reserve, and against Nafta, or TTP. He favors illegal immigration without giving them any benefits... that's fine if they can come here..but TTp or nafta is making illegal immigration legal.. thay dont need to come here.... big business go to thier countries to use cheap labor like the illegal immigrants here..That' what Friedman is saying legal illegal immigration by big business...
You're right, but, economics is mainly a social science.
I wish he was alive today, so we could find out what he thinks about environmental destruction and climate change and how these problems can be solved without government interference.
Therefore, while the 100% pure free market is only a theoretical concept, the generally desired practical outcome of libertarians is a government that is limited to the very small, but very vital, role of protecting citizen from force and fraud. Govt expansion beyond that role has proven destructive to economic and, by extension, human health.
Just to clarify my personal stance, I'm a practical, not ideological liberal. I see liberty as the best means of supporting human life and its quality.
I, the pencil.
Friedman leaves something very basic out of his thnking, and that is that the natural order of things, is not always the best way. Human Beings are best than any other species at adapting with artificial means, to the changing environments. We have conquered the world, not by staying within the natural order of things, but by changing the natural order to a much more suiting artificial order, that maximizes our potential as a species.
1980. It states that at the very end.
Milton, we have passed the point of no return.
The Mighty Cass There still might be hope for our nation. Listen to Charles Murray speak about civil disobedience.
Money was not invented by the government, and the people willing to trade in it are what gives it value.
This is a supreme example of how to make a communist dream of a system for which he has no choice unless he takes arms to embrace Capitalism. Yes, we have too much government involvement in this country, but never put this country at the same level as a socialist one. What I am trying to say here is "you are very lucky to live in this country."
The existing business elites adore libertarian theory- the Kochs, the silicon valley types etc. Because it just means more for them- it means less rights for the workers, less hassle with unions etc. Because that is what the self-styled libertarian rails against- the unions, Social Security- all to the benefit to the business elites who are of course not dumb enough to ever acquiesce to any kind of 'free market'. About income inequality in the US- just look at the Gini index comparatively.
9:15
Did you get a chance to watch that video?
I think it is not difficult to deduce that in spite of the fiery rhetoric on social issues (the inconsequential ones like gay marriage and such) as a means to mobilize the electorate, both parties are beholden to business interest- big business interest of course, large corporations. The transfer of power from the federal level to the state level (states than engage in a zero-sum game with other states in who can offer more welfare to corporations by giving them free stuff), less union power etc
Hong Kong. No natural resources to speak of, but has one of the strongest growing economies in the world. China has some of the most resources and cheapest labor. It's economy pales in comparison to the US.
Okay, I only ask because your arguments actually come straight out of Marxism. I am a conservative, yes. Proud of it, too.
Josh Barnes said to read up on Thomas sowell, fuck that! I'm just gonna wait for professor Tony Starks book to hit the shelves..any day now Tony, were all waiting to learn from you..
Milton Friedman is a Jewish Yoda 💯
What freedom from foreign entanglements is he referring to? Is Latin America a part of the US?
Lol, yeah, people like Pinochet liked his ideas. The sympathy was reciprocal too I heard.
(1)
You're missing something. The US built its own competition, as in set itself back to help the Europe and Japan. My point still stands.
Well, in comparison, sure. The problem is, its enormous as compared to our Constitution, and the fact that enumerated powers is all that feds are permitted to operate under. I really dont care to look at France, and draw a conclusion that we are ok, no need to worry. With such set of mind, soon enough we will have overbearing gvt. like France, but looking at North Korea, I guess we will still be ok. Gvt. already became enormous when it first stepped over the Constitution
(2)
The government nearly destroyed our economy, by the by. FDR's irresponsible spending and coercive political tactics turned recession into depression and prolonged it nearly a decade longer than it should have occurred. The only reason things picked up was due to the war draft artificially lowering unemployment by removing a large portion of the work force and by increased demand for materials. The end of the war, with FDR's policies largely undone, led to a far greater economic growth.
What happens when the guy who supplies the wood cuts down all the forests? Or the company that supplies the graphite poisons the local water supply?
Did Milton knew about the Chilean coup prior to 9/11 1973.
Amazing isn't it.
Compared to what?
If we, the citizens, together don't pull from our present course sir. Wake up and smell the shyte!
I think your name should be "justgivememyversionofthetruth."
The US has low tax rates, and public services are congruously at a dismal level; not just healthcare and social security and such, but even basic infrastructure like not having a high-speed rail. Your qualm can somewhat be true,but does not apply to the US. There is also no VAT tax (because of an absurd argument about states' rights) in spite of the fact it is more efficient and just than a sales tax. I fail to see how marginal tax rates hurt working people though.
Success without integrity is failure? Where there is no integrity there can't be any friendship. Integrity comes with the form of law if people follow the law, which means they are morally correct. A person that refuses to pay the taxes perhaps wants to file a lawsuit against the Government for violating the law. While Milton is against heavy taxation, slavery is slavery. Who is that person shouting pay your fair share? The criminal? Cindy Crawford? Does professor paying his fair share is equal to some pop singer paying his fair share? Many forget that there is such thing as statistical analysis, which means if you don't make enough there has to be a reason why you are not on Welfare, which is still a great way to collect data on what type of people are on Welfare, the sick who can't find a job? If so, why are they not on disability?
It's not a conservative video. I'm not sure if you would recognize a conservative argument. The video is actually more closely related to your argument than mine. Give it a watch.
(3)
Yeah, government taxes your labor before you even get to enjoy the fruits of your labor. Then they tax you for spending it, tax the building, tax the street, tax the lights, the list goes on. The government itself distorts the system. How can it prevent that which it does itself?
Yeah, US policy acted as a check on the Soviet Union, as their policies were meant to check ours. Look who won.
By the way, remember Walter Duranty?
Say, Americans realized that we need to eat. And it started from Agriculture, the basic requirement, which some do not meet. Today, Friedman lives in a country where he won't be made fun of for not wearing the right suit or having the ability to feed a family. So we shall say Government has done a tremendous amount of work to make this happen. What they did not imagine is the amount of ignorance that exists in this country. So much diversity and yet little or no knowledge of your own ancestors or genealogy. Most Americans have no knowledge of the World Map. Why? In many countries this is an IQ question. These are things that many Europeans evaluate on. Whether or not you can hold a basic conversation with your fellow citizens. Whether we will live at times when Government gives up on its people? You would think that problem solvers are always happy to see another problem to solve, but definitely not under soldiers or police officers, because they work for the Government and they will follow Government's orders. If an Officer allows himself to ask for your information he automatically has more power than you do. Whether he can use it against you? Law is what keeps everyone safe and the key to prosperity. Any country that breaks the laws tend to do badly for himself. Most country men know their rights and how to protect them.
Milton's ideas sound great in the abstract. And he does make a few legitimate points about the dangers of full blown socialism. (As the recent example of Venezuela illustrates) However, unregulated capitalism tends to lead to more economic inequality and more environmental distruction. Sometimes the government needs to intervene to counteract the excessed of capitalism. Can anyone give any example of totally libertarian Country anywhere on Earth?
No one in his or her right mind thinks America would be better off without government. Likewise, no clear-thinking person thinks this country is better for having an enormous, over-reaching government.
What are you talking about? Of course businesses are accountable to workers and customers. Business are accountable to workers because they need skilled workers in order to produce a good product and profit. To get good workers, they must provide working conditions and compensation comparable to other businesses. Businesses are accountable to customers because if they provide a poor product or charge excessive prices, customers will go elsewhere, and the business will lose money.
This claim: 'The US is not cheap to do business in' is so off base it's difficult to take it seriously. Of course, taxes may be lower in Antigua and Barbuda or something, but for a first world country, the US has incredibly low taxes, a very business-friendly environment, very lax labor laws and little red tape.
You're missing something. Why is China #2? It's the same reason that Hong Kong is one of the healthiest economies in the world. By the way, your reasons for why Hong Kong is doing well are direct results of free trade, misguided though your assumptions may be.
To say that America was better without government because government never did much until the 20th century and that is where we went wrong is such a juvenile argument I'm surprised Friedman can get away with it. We had the civil war because government was no coherent and powerful ... the north won, and it still is not strong enough to defend the people against the elites, who in the civil war were slavers and now are of a slightly different stripe, but rich enough to hire a good defense.
Romney 2012 because he was an independent his entire life until he ran against Ted Kennedy
Freedom is vice, non?
It's hard for me to listen to this and reconcile it with the fact that America during the time of the founding fathers had slavery and a huge struggle getting rid of it, and that goes against the idea that the country was as nice as he says it was.
@@prodharvey ???
@@Karynthian The foundations of liberalism call for freedom of opportunity for all. The fact that this principle wasn't adhered to is a failing of our nation's forefathers that we can still fix.
A relativistic argument is not valid.
Saying "it's not hot because we're only on the 5th Circle of Hell, rather than the 9th Circle," ignores the more salient fact that you are in Hell.
Someone could take your argument and say, "try to compare USA data with China or the Soviet Union. See? France's government isn't so big!"
It's no use to compare to the worst people who crave power can do. The question is whether it is larger than it should be. It is by quite a bit. Enormous, even.
Google is your friend. BTW, the highest marginal tax rate under Eisenhower was 70 percent. S-e-v-e-n-t-y.
MAGA
Milton Friedman looks just like Squidward.
Free immigration is to immigrants. America is the land of immigrants where many promised to cover the costs for the rest...having the law in the back of their minds, which means immigrants will follow the law upon arrival. What promises safety?
Sigh. You're still missing the big point. Yeah, the US used many of its resources to help Europe and Japan. Sure, the money would have been used partially to repel the Soviets. With such enormous expenditures, how was the US able to not only compete with USSR, but outshine it in just about every way? We surpassed England before WWI or WWII, so head start isn't as big of a factor.
Do you need it explained again?
anarchy would be the other way, you cant have anarchy and a big government.