Sunday, September 25, 2011

"The world runs on individuals' pursuing their self interests."

It's been awhile since I linked to this video in which Milton Friedman discusses capitalism, greed, and socialism with Phil Donahue. Again, I wish we had more talk show hosts today like Donahue, who let you know his personal beliefs but had dignified, respectful discussions with guests who disagreed with him.

In addition to Friedman's quote in the title of this post, I also like this one, "In the only cases in which the masses have escaped from the kind of grinding poverty you're talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it's exactly in the kinds of societies that depart from that."

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