I first read his book, “Free to Choose“, many years ago after it had come out in paperback. I can’t remember why I bought it, but I do remember I couldn’t put it down and the profound effect it had on me. Economics made simple for the common (wo)man.
Today is the fifth anniversary of Milton Friedman’s death, and I’d like to share with you a couple of his videos, which have relevance for us and our differing philosophies in these tough economic times.
In this first two-minute vignette, Phil Donahue (remember him) asks Friedman a question that could come straight out of today’s playbook of wealth redistribution and capitalism gone mad, a.k.a. “greed”.
The second is a film segment from Friedman’s “Free to Choose” series and is entitled, “Created Equal”. Borrowing from the film’s abstract:
The Declaration of Independence says, “all men are created equal.” Friedman explains that this did not mean all persons should or will have equal talents or income. Equal opportunity to better one’s self, and the right to personally benefit from the gains realized, are consistent with freedom. Equality of results requires force. Taking from some to give to others destroys freedom and removes the incentive for creating new wealth.
In 2012, let’s be sure we remain “Free to Choose”.