A person's ability to explain complex matters in a simple way shows that they have great knowledge and understanding about the subject they are talking about. Mr. Friedman was a great man and is dearly missed.
My thoughts precisely. Very well articulated. Off the top of my head, I can't name an interviewer who doesn't choose volume over substance or who doesn't talk over the interviewee in an interview.
@shadowgeyser How do you determine how far is "prior" ? How can you be sure you are right about your timing and cause and effect? When were the "priors" of which you speak? How do you determine success? How can you be sure that the "priors" of which you speak were not detrimental, if not equally detrimental, or if you prefer, constructive?
@ArborMate no offense but i find the best way to clear the earwax is not with a razor sharp knife, but with a cotton Q-tip... i share your frustration though
@Bluedogdixie Friedman's economic theories were awesome. The most awesome thing about them is how badly they worked and they (ironically enough) destroyed free enterprise in this country and abroad.
@footballcowboys100 no he says that it is private issues that should not be regulated, like choosing whether to use airbags or not. he agrees that there is a strong argument for some type of government intervention to protect third parties (ie: if u have building companies)
@TheTrueLiberal What else do you reckon milton meant to say? Milton's saying he has some good things to say about fed reserve after greenspan. that means milton approved(therefore, also liked) greenspan's fed reserve.
This is true hosting. You're not in a debate (e.g. Bill O Reily) that you have to try to contradict what your guest is saying even though you might disagree. The point is to get your guest's point across since that's his time he's there. They changed it now (gradually) but it was very simple. The host gives a conventionally believed statement on a topic and lets the guest critique/question/answer it.
@neonaction Donahue provided some points that many indeed do relate to, but Friendman handidly explained why Donahue's points were invalid. Freidman's economics does not work? And the alternative has? This whole show pointed to proofs explained by Friedman how his economics worked vs the next best alternatives.
The BEST thing I see here is a (pretty much) die-hard liberal and die-hard conservative having a cogent, civil, well mannered argument (not a fight), without any insults or personal attacks and LISTENING to each other in the furtherance of learning something.
Milton Friedman's book CAPITALISM AND FREEDOM should be required reading in all American high schools. Most people think of capitalism as an economic theory but fewer realize the political benefits of private markets. No one explains this better than Friedman.
@gceron83 u arent realy making sense to me... but maybe we need to clarify what is liberty? in the ideal society how much power should one's nieghbors have over the liberty of another? what is property? what is property's relation to liberty? what is law? and what is the point and purpose of law in the ideal society?
@shadowgeyser How do you know that "historical and empirical evidence is supporting that government control of money, credit, and interest is detrimental", compared with any other system?
I see where he's coming from with a pollution tax and I agree in principle but it is very difficult to monitor compliance or more importantly to measure emissions. How do you measure biodiversity loss for example?
@rugbyboy198127 i know right, i mean going back and reading a few of friedman's books or listening to maggie's or ronnie's speeches, its intersting to see our own reversion
@Ospiker In February of 1978, a California jury created a nationwide sensation when it awarded the record-breaking sum of $128 million in a lawsuit stemming from a into accident (Weinberger Romeo, 45). This one lawsuit was three times what Ford executives and engineers had estimated their final cost would be.
Yes, without question, the closure of small businesses due to competition is a huge benefit to the economy as a whole. Adam Smith never argued otherwise (he was arguing against the state-imposed guild system that bears no resemblance to modern corporations). The economic efficiencies that result actually reduce unemployment (and does not collapse the local economy). YOU need to read more. I've been studying these issues as an economist for decades.
@FletchforFreedom I'm glad you've been volunteering. That's my point that we not only work for profits. Many of us also want to help because love. Other are just greedy, and selfish.
@rmcdaniel423 Car companies probably haven't done it yet but there does exist successful employee owned companies. Look up ACIPCO. It routinely ranks as one of the companies people most want to work for and it has profit sharing. I can think of no reason why this arrangement wouldn't work for cars as well.
@gceron83 no that is not really what i was interested in an answer for, what i would like your take on woul be straight answers to these questions, that we may better understand one another. what is liberty? in the ideal society how much power should one's nieghbors have over the liberty of another? what is property? what is property's relation to liberty? what is law? and what is the point and purpose of law in the ideal society? sorry for the post freak-out
@1019079 There is a right and wrong. There is using force to achieve ends and then there's the free relation negotiations available via capitalism. Can you give a gray example?
The recorded transcript of their conversation was reproduced by Kissinger in his memoir, Years of Upheaval (1982). "In Chile you can never count on anything," the ambassador said, "but the odds are in favor of a coup, though I can't give you any time frame." Kissinger: "We are going to stay out of that, I assume." Davis: "Yes. My firm instructions to everybody on the staff are that we are not to involve ourselves in any way. . . . Our biggest problem is to keep from getting caught in the middle"
@PikPobedy I've heard of such scenarios. There is also a small restaurant in my hometown that is run as an egalitarian collective. I heard it was started by a couple people who used to work in various aspects of food service. I actually think there is much merit to that type of system, as long as everyone pulls equal weight and it is all voluntary. True free markets should allow all sorts of business models to flourish, as an "invisible hand" safeguard against monopolies.
Paradise Lost? This guy is so packed with every underhanded trick imaginable to stonewall & waylay, must be a top of the line model with all the bells & whistles
There are also transcripts of Kissinger's conversations with relevant figures in Washington and elsewhere. Some of these conversations took place by telephone. These transcripts establish that Chile was not an important part of the then-National Security Adviser's daily diet.In fact, during September and October 1970--which is to say, between the Chilean election and the congressional vote the telephone record reveals a Kissinger preoccupied with a full-blown Middle East crisis, Vietnam,
Assertions based on emotion, don't often hold up when you take a wider view. The peer pressure of public sentiment is enough to change the direction of manufacturers without government intervention, if there is competition (which is a responsibility of Government).
You need to watch the video more closely (and understand how the world works). At the outset, Friedman explains that it isn't really "greed" but "individuals pursuing their separate interests", which is why you go to work to give yourself and your family a better life, which is why there are people available to teach, fight fires and protect the public and even why people give to charity. Love may do it for you, but that's not how the world works on the whole.
Excuse me for intervening in your debate with Rickbar, but Its irrelevant whether there is "influence." The question is who benefits and by how much. Second, which one of his theories are you talking about? Theories on inflation are not novel and have been around well before Friedman.
@sayroni Evidence to which statement? I'm not disagreeing with you that people have mixed up standards but the idea that simply having massive amounts of money is enough to make you happy has been around for centuries, its not a recent invention. Not sure what we're disagreeing on at this point.
@Plax123 If you wish to learn more, you can see for yourself. I've enjoyed this discussion, though I'm afraid this is not the appropriate forum for a discussion of such proportions. Only the future will tell what happens.
@jasonwoody he's not referring to a carbon tax...(co2 emissions), he's referring to toxic pollutants which are already being dealt with in the US such as scrubber and steam systems in coal-operated factories
@sayroni "as long as we have more money we will be"... what? I'd like to hear what you were going to finish with. Also did you mean to say GPD or GDP? Because a high GDP means the folks have jobs and can earn their own living and negotiate their own wages. Granted that in "developing countries" that wage they can bargain for and earn is pretty low. Upon developing, like the USA has, the jobs are different, and the wages are higher. As more people earn more money from more companies, local and
Rush added: "I didn't know that a coup was coming at any particular date. We'd been hearing coup rumors for about a year." Kissinger was better informed than the White House. A few days before the coup, Ambassador Nathaniel Davis had been recalled to Washington, not to discuss Chile per se but to be looked over as a possible candidate for a high State Department post. As he walked into Kissinger's office, he was asked immediately about the possibilities of a coup.
@DavidHillI Exactly. You get it. We haven't even talked about what happened to Native Americans and Mexico. Gold was found in California after the U.S.-Mexico War. It is now the 5th or 6th largest economy in the world. Imperialism was definitely a factor in this development.
@robertabalosvideo It should be required readiung along with the latest issue of Jugg magazine. This was about the time he won the Nobel Prize for economics which was about the time he should have been institutionalized.
The best that can be done for workers and farmers is to let the free market operate to their benefit rather than continuing to allow the governmnet interference that has caused such things as the Great Depression and the current economic crisis.
i miss the phil donahue show. he was the granddaddy of the talk show and noone who came after him was as good as him. he let the guest speak and didnt interrupt every two seconds like the talk show host today do. they invite a guest on and they, the host talk more than the guest. i used to hate how oprah would ask a guest a question, then continually interrupt every few seconds, so that the guest couldnt even get a formed thought out.
part 2. Also, working for the government doesn't mean you can't innovate or improve. The government might be slow, but it does have innovation and improvement and often leads on these areas, the TVA being a prime example. The government brought power to the rural south long before private companies did.
@Pi11z3ury And in the US people are free to sell their labor to whoever wants to buy it and just like goods and services, labor prices can be adjusted (except below minimum wage which should be abolished). If a person thinks his labor is worth more than he is getting paid for it then he can live with it, negotiate it, or quit to work for a better paying employer. It's the worker's responsibility to receive the full benefit of his toiling.
@neonaction Those systems do not even compare to a free market Capitalist system by any shot. Here is an interesting example, that you referred to, China. China is generally known to have tight control over it's subjects in every area. Where they have let up, which has been economically in free trade, they are booming, ie Hong Kong. The reason is that they know a free market improves the lives of the people and that is why they have freed up some areas.
A person's ability to explain complex matters in a simple way shows that they have great knowledge and understanding about the subject they are talking about. Mr. Friedman was a great man and is dearly missed.
My thoughts precisely. Very well articulated. Off the top of my head, I can't name an interviewer who doesn't choose volume over substance or who doesn't talk over the interviewee in an interview.
this guy could destroy any liberal on MSNBC today. He's a giant. I miss him.
In the old days, people could argue in a civil manner. We've lost this.
Wait till 2020 gets to you.. Lol
It's almost uncomfortable to watch Donahue desperately change subject when he is so out of his depth. I miss Milton!
It is incredible how relevant Milton Firedman's words still are today
It is just impossible to dislike Friedman when you listen to him.
Milton Friedman's greatest strength is his ability to remain calm and rational at all times
I can close my eyes and believe that Mr. Friedman is speaking today. Same principles apply in 2018. I absolutely love him.
Wow!!! It is like this interviewed was taped a year ago. Unreal. A Genious.
@wowzinger The whole movie "The Corporation" is on You Tube.
I guess we will continue this discussion tomorrow. : )
been lookin SO long for these vids!
Thanks...finally get to see the full video!
im just surprised how much of this relates to today
@louiethegreater Please explain.
What do you know about Revolutions?
YES1!! THANK YOU FOR UPLOADING THIS!
@finnemccool Got any good books you've read lately that you can recommend? Your conversations has sparked some interest in me.
@shadowgeyser How do you determine how far is "prior" ? How can you be sure you are right about your timing and cause and effect? When were the "priors" of which you speak? How do you determine success? How can you be sure that the "priors" of which you speak were not detrimental, if not equally detrimental, or if you prefer, constructive?
@1971SuperLead Who are you to be his judge and jury?
principle of agency is the best line of drawing the difference between right and wrong.
@ArborMate no offense but i find the best way to clear the earwax is not with a razor sharp knife, but with a cotton Q-tip... i share your frustration though
@Bluedogdixie Friedman's economic theories were awesome. The most awesome thing about them is how badly they worked and they (ironically enough) destroyed free enterprise in this country and abroad.
@footballcowboys100 no he says that it is private issues that should not be regulated, like choosing whether to use airbags or not. he agrees that there is a strong argument for some type of government intervention to protect third parties (ie: if u have building companies)
@TheTrueLiberal What else do you reckon milton meant to say? Milton's saying he has some good things to say about fed reserve after greenspan. that means milton approved(therefore, also liked) greenspan's fed reserve.
This is true hosting. You're not in a debate (e.g. Bill O Reily) that you have to try to contradict what your guest is saying even though you might disagree. The point is to get your guest's point across since that's his time he's there. They changed it now (gradually) but it was very simple. The host gives a conventionally believed statement on a topic and lets the guest critique/question/answer it.
@neonaction
Donahue provided some points that many indeed do relate to, but Friendman handidly explained why Donahue's points were invalid.
Freidman's economics does not work? And the alternative has? This whole show pointed to proofs explained by Friedman how his economics worked vs the next best alternatives.
The BEST thing I see here is a (pretty much) die-hard liberal and die-hard conservative having a cogent, civil, well mannered argument (not a fight), without any insults or personal attacks and LISTENING to each other in the furtherance of learning something.
could somebody put the subtitles on this video, latinamericans really apreciate if one of you could do it
@platano1742 and what do you mean in the way of "equality"
equal opportunity?
equal results?
have you ever read "free to choose" by milton friedman?
Milton Friedman's book CAPITALISM AND FREEDOM should be required reading in all American high schools. Most people think of capitalism as an economic theory but fewer realize the political benefits of private markets. No one explains this better than Friedman.
@FletchforFreedom Is that good for the economy as a whole?
We need another Milton Friedman today.
@gceron83 u arent realy making sense to me... but maybe we need to clarify
what is liberty?
in the ideal society how much power should one's nieghbors have over the liberty of another?
what is property?
what is property's relation to liberty?
what is law?
and what is the point and purpose of law in the ideal society?
That is the understatement of the decade.
So, what are you a proponent of? What level of regulation is enough and who should make that determination?
@TampaTypeS So the choice is between a charismatic dictatorship or unregulated capitalism? I think there may be a few more options available to us.
More Donahue, please.
@EchoMike03 what about Kissinger?
@shadowgeyser How do you know that "historical and empirical evidence is supporting that government control of money, credit, and interest is detrimental", compared with any other system?
I see where he's coming from with a pollution tax and I agree in principle but it is very difficult to monitor compliance or more importantly to measure emissions. How do you measure biodiversity loss for example?
@OneApostate1 Point is, Friedman economics was not a long term fix, AND it added its own problems (which in themselves caused 2008) to boot.
@1971SuperLead Why do i need to quote what you typed for everyone to see and read?
@rugbyboy198127 i know right, i mean going back and reading a few of friedman's books or listening to maggie's or ronnie's speeches, its intersting to see our own reversion
@Ospiker
In February of 1978, a California jury created a nationwide sensation when it awarded the record-breaking sum of $128 million in a lawsuit stemming from a into accident (Weinberger Romeo, 45). This one lawsuit was three times what Ford executives and engineers had estimated their final cost would be.
Yes, without question, the closure of small businesses due to competition is a huge benefit to the economy as a whole. Adam Smith never argued otherwise (he was arguing against the state-imposed guild system that bears no resemblance to modern corporations). The economic efficiencies that result actually reduce unemployment (and does not collapse the local economy). YOU need to read more. I've been studying these issues as an economist for decades.
@FletchforFreedom I'm glad you've been volunteering. That's my point that we not only work for profits. Many of us also want to help because love. Other are just greedy, and selfish.
Milton Friedman is unbelievably smart. Not the least of his talents is his ability to talk without moving his mouth.
@rmcdaniel423 Car companies probably haven't done it yet but there does exist successful employee owned companies. Look up ACIPCO. It routinely ranks as one of the companies people most want to work for and it has profit sharing. I can think of no reason why this arrangement wouldn't work for cars as well.
@gceron83 no that is not really what i was interested in an answer for, what i would like your take on woul be straight answers to these questions, that we may better understand one another.
what is liberty?
in the ideal society how much power should one's nieghbors have over the liberty of another?
what is property?
what is property's relation to liberty?
what is law?
and what is the point and purpose of law in the ideal society?
sorry for the post freak-out
@1019079 There is a right and wrong. There is using force to achieve ends and then there's the free relation negotiations available via capitalism. Can you give a gray example?
@ArborMate i'm sorry what do you think my opinion is???
The recorded transcript of their conversation was reproduced by Kissinger in his memoir, Years of Upheaval (1982). "In Chile you can never count on anything," the ambassador said, "but the odds are in favor of a coup, though I can't give you any time frame." Kissinger: "We are going to stay out of that, I assume." Davis: "Yes. My firm instructions to everybody on the staff are that we are not to involve ourselves in any way. . . . Our biggest problem is to keep from getting caught in the middle"
@PikPobedy I've heard of such scenarios. There is also a small restaurant in my hometown that is run as an egalitarian collective. I heard it was started by a couple people who used to work in various aspects of food service. I actually think there is much merit to that type of system, as long as everyone pulls equal weight and it is all voluntary. True free markets should allow all sorts of business models to flourish, as an "invisible hand" safeguard against monopolies.
@TheTrueLiberal
if i don't know what I am talking about please tell me what you think i need to know. .
@weasyeasel Are you implying that the ability to protect investment with the socially legitimated use of force does not give one bargaining leverage?
@LAVB432 You must know. The nuclear war fan, Margareth Tatcher, did some of that in GB.
1979, why didn't we listen to Mr. Friedman then? The man is a genius and we have gotten further and further away from his point of view.
@wowzinger Didn't your parents ever teach your to share?
@shadowgeyser You use the word "perhaps". How do you know that you're right?
@TheTrueLiberal Thanks for just bashing at anyone who disagrees. It helps show people who are new to the game which side to root for.
Paradise Lost? This guy is so packed with every underhanded trick imaginable to stonewall & waylay, must be a top of the line model with all the bells & whistles
thank you.
There are also transcripts of Kissinger's conversations with relevant figures in Washington and elsewhere. Some of these conversations took place by telephone. These transcripts establish that Chile was not an important part of the then-National Security Adviser's daily diet.In fact, during September and October 1970--which is to say, between the Chilean election and the congressional vote the telephone record reveals a Kissinger preoccupied with a full-blown Middle East crisis, Vietnam,
Am I misinterpreting, or is Friedman proposing something similar to the Cap-and-Trade?
@Ravengaurd6 "earned resources"? lol What is really yours?
@1971SuperLead how so?
Assertions based on emotion, don't often hold up when you take a wider view. The peer pressure of public sentiment is enough to change the direction of manufacturers without government intervention, if there is competition (which is a responsibility of Government).
You need to watch the video more closely (and understand how the world works). At the outset, Friedman explains that it isn't really "greed" but "individuals pursuing their separate interests", which is why you go to work to give yourself and your family a better life, which is why there are people available to teach, fight fires and protect the public and even why people give to charity. Love may do it for you, but that's not how the world works on the whole.
@DarkCelestial1 we do, his name is ron paul
Excuse me for intervening in your debate with Rickbar, but Its irrelevant whether there is "influence." The question is who benefits and by how much. Second, which one of his theories are you talking about? Theories on inflation are not novel and have been around well before Friedman.
@madashelldude ah, nice change of tune. Glad you learned something today.
Milton Friedman awsome guy... ;)
It shows a lot of eloquence!
Making cars safe has encouraged reckless driving.
@madashelldude I said government because I ment government, and government was not the focus of the point with you so skillfully meandered around
What is that on his head? Looks like the helmet of a star trooper!
@sayroni Evidence to which statement? I'm not disagreeing with you that people have mixed up standards but the idea that simply having massive amounts of money is enough to make you happy has been around for centuries, its not a recent invention. Not sure what we're disagreeing on at this point.
@eoriol1955 How? Im curious.
@DREwestcoast Brilliant riposte. Nonsense, but very stylish. I'm impressed.
@Plax123 If you wish to learn more, you can see for yourself. I've enjoyed this discussion, though I'm afraid this is not the appropriate forum for a discussion of such proportions. Only the future will tell what happens.
@jasonwoody he's not referring to a carbon tax...(co2 emissions), he's referring to toxic pollutants which are already being dealt with in the US such as scrubber and steam systems in coal-operated factories
@solidysnake1 You should go see Friedman's interview with Charlie Rose. Milton said he had nothing good to say about fed reserve before greenspan.
well put.
So Milton Friedman was for Cap and Trade legislation basically?
@sayroni "as long as we have more money we will be"... what? I'd like to hear what you were going to finish with. Also did you mean to say GPD or GDP? Because a high GDP means the folks have jobs and can earn their own living and negotiate their own wages. Granted that in "developing countries" that wage they can bargain for and earn is pretty low. Upon developing, like the USA has, the jobs are different, and the wages are higher. As more people earn more money from more companies, local and
Good post.
Rush added: "I didn't know that a coup was coming at any particular date. We'd been hearing coup rumors for about a year."
Kissinger was better informed than the White House. A few days before the coup, Ambassador Nathaniel Davis had been recalled to Washington, not to discuss Chile per se but to be looked over as a possible candidate for a high State Department post. As he walked into Kissinger's office, he was asked immediately about the possibilities of a coup.
@DavidHillI Exactly. You get it. We haven't even talked about what happened to Native Americans and Mexico. Gold was found in California after the U.S.-Mexico War. It is now the 5th or 6th largest economy in the world. Imperialism was definitely a factor in this development.
@AtheistSweden I hope having pointed out the definition helped you.
@TheTrueLiberal You should go see Friedman's interview with Charlie Rose. Milton said he had nothing good to say about fed reserve before greenspan.
@robertabalosvideo It should be required readiung along with the latest issue of Jugg magazine. This was about the time he won the Nobel Prize for economics which was about the time he should have been institutionalized.
The best that can be done for workers and farmers is to let the free market operate to their benefit rather than continuing to allow the governmnet interference that has caused such things as the Great Depression and the current economic crisis.
i miss the phil donahue show. he was the granddaddy of the talk show and noone who came after him was as good as him.
he let the guest speak and didnt interrupt every two seconds like the talk show host today do. they invite a guest on and they, the host talk more than the guest. i used to hate how oprah would ask a guest a question, then continually interrupt every few seconds, so that the guest couldnt even get a formed thought out.
part 2. Also, working for the government doesn't mean you can't innovate or improve. The government might be slow, but it does have innovation and improvement and often leads on these areas, the TVA being a prime example. The government brought power to the rural south long before private companies did.
@Pi11z3ury And in the US people are free to sell their labor to whoever wants to buy it and just like goods and services, labor prices can be adjusted (except below minimum wage which should be abolished). If a person thinks his labor is worth more than he is getting paid for it then he can live with it, negotiate it, or quit to work for a better paying employer. It's the worker's responsibility to receive the full benefit of his toiling.
@neonaction
Those systems do not even compare to a free market Capitalist system by any shot.
Here is an interesting example, that you referred to, China. China is generally known to have tight control over it's subjects in every area. Where they have let up, which has been economically in free trade, they are booming, ie Hong Kong. The reason is that they know a free market improves the lives of the people and that is why they have freed up some areas.
@VassiliZaitsev12 then why do you do it?
@0HippyHunter0 I belive Milton Friedman somehow got a hold of a copy of Brain 2.0, while us ordinary human beings are stuck with Brain 1.0.
@FletchforFreedom How many unemployee do we have now, and the year before, and the year before....
@FletchforFreedom Mention one congress person representing the workers and the poor farmers of this country.
Milton Friedman ROCKS!