Freedom Channel

Captain Capitalism: How to Argue Against Socialism and Defend Captialism

2009-08-27T14:47:00.007-06:00

From CaptainCapitalism.blogspot.com:

This speech is quite simply A MUST for all people who believe in free markets, capitalism, freedom and true progress. It comprehensively covers not just the logical and philosophical arguments for capitalism, but also provides your everyday person with the empirical data that supports capitalism. It also delves into the leftist mind with insights that help you understand where the left is coming from and how to engage them when debating with them.

Understand that this is the entire speech in its original format. It was taped professionally and will be aired on TV in the future, but this "professional version" will be an abbreviated version of it. I wanted to make sure the ENTIRE 2 hour 10 minute version was available in that there are many different aspects to this debate that need addressing and I wanted to cover them all.

It is a LONG seminar, but understand that in those short 2 hours and 10 minutes, you will be armed with an immense amount of data, as well as a strategic understanding of the psychology of the left that you will be immeasurably more capable of arguing for free markets, low taxes, freedom and liberty. More importantly I review different economic resources you can go to where by you can research and investigate on your own.

ABC 20/20 The War on Drugs, A War on Ourselves? with John Stossel

2009-08-06T17:30:00.002-06:00

Part 1 - Introduction and Police Baiting Part 2 - The Unintended Consequences of Prohibition Part 3 - The Effect of the War on Drugs in Colombia Part 4 - The Effect of the War on Drugs in Colombia Part 5 - The Right to Choose & Legalization in Europe Part 6 - Hard Drugs & Legalization in the US
The War on Drugs, A War on Ourselves? In a 2002 special, John Stossel examines the effect of the War on Drugs on American Society. He interviews Detroit's police chief Jerry Oliver who points out that since the dealing of drugs is between willing buyers and sellers, the War on Drugs forces cops to use deceit to catch those dealing drugs. Despite all the law enforcement resources put into fighting the drug war, availably of drugs is just as high as before the drug war began. 3 Unintended Consequences are examined including; it sucks children into the underworld, corrupts cops, and creates crime. John Stossel travels to Colombia and examines the effect of the War on Drugs on the people living there. Finally Stossel travels to Europe to see how drug legalization has affected society there.
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Walter Williams - Good Intentions

2009-07-22T09:29:00.002-06:00

Introduction & Public Schools

Minimum Wage, Licensing, and Labor Laws

The Welfare System and Conclusions

Walter Williams' PBS documentary Good Intentions based on his book, The State Against Blacks (1982). The documentary was very controversial at the time it was released and led to many animosities and even threats of murder.

In Good Intentions, Dr. Williams examines the failure of the war on poverty and the devastating effect of well meaning government policies on blacks asserting that the state harms people in the U.S. more than it helps them. He shows how government anti-poverty programs have often locked people into poverty making the points that:

- being forced to attend 3rd rate public schools leave students unprepared for working life
- minimum wages prevent young people from obtaining jobs at an early age
- licensing and labor laws have had the effect of restricting entrance of blacks into the skilled trades and unions
- the welfare system creates perverse incentives for the poor to make bad choices they otherwise would not

Dr. Williams presents the following solutions to these problems:

Failing Public Schools - Give parents greater control over their children's education by setting up a tuition tax credit or voucher system to broaden competition in turn revitalizing both public and non-public schools

Minimum Wages - Remove the minimum wage from youngsters to give more young people the chance to learn the world of work at an early age instead spending their free time idle an possibly falling into the habits of the street

Restrictive Labor Laws, Jobs Programs - Eliminate government roadblocks that prevent new entrepreneurs from starting their own business

Welfare Programs - Enact a compassionate welfare system such as a negative income tax which would remove dependency and dis-incentives for the poor to get themselves out of poverty

Scholars interviewed in the documentary include Donald Eberle, Charles Murray, and George Gilder.

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The 4 Ways to Spend Money by Milton Friedman

2008-09-21T10:15:00.006-06:00


In his book Free to Choose, Milton Friedman described four ways to spend money. 1. You spend your own money on yourself - You shop in a supermarket, for example. You clearly have a strong incentive both to economize and to get as much value as you can for each dollar you do spend. 2. You spend your own money on someone else - You shop for Christmas or birthday presents. You have the same incentive to economize as in the first case but not the same incentive to get full value for your money, at least as judged by the tastes of the recipient. You will, of course, want to get something the recipient will like—provided that it also makes the right impression and does not take too much time and effort. (If, indeed, your main objective were to enable the recipient to get as much value as possible per dollar, you would give him cash 3. You spend someone else's money on yourself - lunching on an expense account, for instance. You have no strong incentive to keep down the cost of the lunch, but you do have a strong incentive to get your money's worth. 4. You spend someone else's money on someone else - You are paying for someone else's lunch out of an expense account. You have little incentive either to economize or to try to get your guest the lunch that he will value most highly. However, if you are having lunch with him, so that the lunch is a mixture of case 3 and case 4, you do have a strong incentive to satisfy your own tastes at the sacrifice of his, if necessary. All welfare programs fall into either case 3—for example, Social Security which involves cash payments that the recipient is free to spend as he may wish; or case 4—for example, public housing; except that even case 4 programs share one feature of case 3, namely, that the bureaucrats administering the program partake of the lunch; and all case 3 programs have bureaucrats among their recipients.

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Milton Friedman on the War on Drugs

2008-07-31T16:13:00.008-06:00


In 2006 prior to his death, the Marijuana Policy Project (MPP) sat down with Milton Friedman to discuss his thoughts on the morality of drug prohibition and the failed War on Drugs. From the interview: On Morality "I do not believe the State has the right to tell me what to put in my head. We have a law for free speech, free assembly, and so on. I think the same thing goes with respect to what I put into my body. I don't think the state has any more right to tell me what to put in my mouth then it has to tell me what can come out of my mouth. Those two are essentially the same thing—and they both are essential elements of freedom." On Making Prohibition Work "You can never make prohibition work. As long as there are substantial numbers of people that want to use the product, there will be a supply forthcoming. What will happen is that the cost of the drug will go up in order to finance the illegal activities that are necessary to bring it to market." "I think almost every economist would agree that government gets itself into trouble when it tries to interfere with voluntary behavior. Marijuana prohibition is a victimless crime. You have a willing buyer and a willing seller." "If you have a voluntary sale and purchase of marijuana between a willing buyer and a willing seller, then the only way to enforce the prohibition of it is to have an informer." On the Drug Users "We mustn't regard the users of the drugs as if they didn't count. They count! They are people. Who are we to say whether they are doing the right thing or not by using drugs?" On the International Effects of the War on Drugs "One of the worst features of our prohibition is its international effects. Here we are responsible in the United States for the deaths of hundreds or thousands of people in Latin America—in Colombia and Peru and so on. Why are they dying? They are dying because we cannot enforce our own laws...we are fundamentally a murderer of people in countries like Peru." Since 1972 "I challenge anybody to read a Newsweek column I wrote in 1972 and find out where it has gone wrong. That Newsweek column was an occasion by President Nixon declaring a war on drugs. In that column I pointed out all of the effects that would follow from it; the corruption, the violence, the lack of respect for the law, the difficulties overseas, and so on." (Milton Friedman: Prohibition and Drugs, May 1, 1972 Newsweek)

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The Coming Century of Liberty

2008-07-27T14:44:00.003-06:00


A key figure in the libertarian movement, David Boaz surveys what he sees as the threats to freedom from the Bush administration and the current presidential candidates. Though he is frustrated with many of the candidates' positions, he remains optimistic about the future of civil and economic liberties. However, he says that the future of freedom requires that Americans devote considerable effort to preserving and protecting these rights. Speech delivered to The Commonwealth Club of California in San Francisco July 9, 2008

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Free to Choose 1980 - Volume 2: The Tyranny of Control

2008-07-27T13:47:00.002-06:00


Topic: The Case for Free Trade Government planning and detailed control of economic activity lessens productive innovation, and consumer choice. Good, better, best, are replaced by "approved" or "authorized." Friedman shows how "established" industries or methods, seek government protection or subsidization in their attempts to stop or limit product improvements which they don't control. Friedman visits India, Japan and U.S.

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Free to Choose 1980 - Volume 3: Anatomy of a Crisis

2008-07-27T13:44:00.002-06:00


Topic: What caused the Great Depression, and how future depressions can be avoided The Great Depression has been popularly viewed as a failure of capitalism. The stock market crash, the failure of the Bank of the United States, loss of personal savings, were visible symbols supporting this belief. As Friedman explains, the real cause was the unseen failure of government policy and action. Yet this crisis resulting from government failure leads to decades of government expansion.

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Free to Choose 1980 - Volume 4: From Cradle to Grave

2008-07-27T13:32:00.004-06:00


Topic: The welfare system's effect on society The welfare state arises from the attempt to do good with other people's money. Such attempts always fail because: Nobody spends somebody else's money as carefully as his own. Welfare is supply driven. Those spending the money use force to collect it and to insure those receiving it use it for "right" purposes. Good intentions are corrupted by bad means. Friedman visits U.S. and Britain.

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Free to Choose 1980 - Volume 5: Created Equal

2008-07-27T13:27:00.003-06:00


Topic: Is equality attainable or even desirable for society? 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. Friedman visits India, U.S. and Britain.

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Free to Choose 1980 - Volume 7: Who Protects the Consumer?

2008-07-27T13:22:00.002-06:00


Topic: Are Consumer Protection Agencies the best way to protect the consumer? Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle beneficial innovation, and become agents for the industries or groups they are intended to regulate. Friedman explains how the apparent chaos of the market place, the competition of many suppliers for business, is the best protection of consumer interests.

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Free to Choose 1980 - Volume 8: Who Protects the Worker?

2008-07-27T13:17:00.002-06:00


Topic: How government protection, minimum wage, and unions affect workers Unions sometimes protect some workers - their members - but usually at the expense of other workers. Government protects its employees and special groups of workers at the expense of other workers. Both unions and government restrict freedom. Friedman explains how the competition of employers for the talents of workers leads to the highest wages and best working conditions.

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Free to Choose 1980 - Volume 9: How to Cure Inflation

2008-07-27T13:09:00.002-06:00


Topic: Why Politicians Favor Inflation and How to Prevent It Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a "token" of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. Friedman visits Japan, U.S. and Britain.

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Free to Choose 1980 - Volume 10: How to Stay Free

2008-07-27T13:05:00.001-06:00


Topic: Limiting Government Power to Preserve Democracy and a Free Society Democracies have only recently been considered desirable. Historically, it was feared that democracies always self destruct when citizens, forgetting that you cannot remove want and misery through legislation, insist on government actions that physically and morally bankrupt their nation. Friedman explains why the United States has so far avoided this outcome and how we can continue to do so. This program includes an interview of Dr. Friedman by Lawrence E. Spivak.

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Free to Choose 1990 - Volume 3: The Failure of Socialism

2008-07-27T12:45:00.003-06:00


Topic: The Re-Birth of Freedom in Eastern Europe Milton says "Everybody knows what needs to be done. The property that is now in the hands of the state, needs to be gotten into the hands of private people who can use it in accordance with their own interests and values." Eastern Europe has observed the history of free markets in the United States and wants to copy our success. Ironically, we seem unable to turn away from the temptations of socialism despite its long history of bankrupting economies. Introduced by Ronald Reagan. Discussion with Gary Becker, University of Chicago and Sam Bowles, University of Massachusetts at Amherst.

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Free to Choose 1990 - Volume 1: The Power of the Market

2008-07-27T12:39:00.004-06:00


Topic: The Power of the Market to Promote Prosperity and Freedom Dr. Friedman states, "There is not a single person in the world who can make this pencil." He explains that the creation of even a simple object - like the "lead" pencil - requires the knowledge of many people, lumberjacks, steel manufacturers, miners, etc. These people may not speak the same language, they may not know or like one another, yet the market enables them to combine knowledge and effort to produce wealth. Introduced by Arnold Schwarzenegger. Discussion with David Brooks, Wall Street Journal and James Galbraith, University of Texas.

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Free to Choose 1990 - Volume 2: The Tyranny of Control

2008-07-19T22:23:00.003-06:00


Topic: The Case for Free Trade "When anyone complains about unfair competition, consumers beware." Friedman tells us about the writings of Adam Smith who, 200 years ago, warned that businesses always try to sell for the highest price and will try to control the market to do so. But without government help businesses cannot force people to buy their goods. Consumers will always get the lowest possible prices when competition is free and robust. Introduced by George Schultz. Discussion with Michael Walker, Fraser Institute and Steve Cohen, UC Berkeley.

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Milton Friedman Debates Naomi Klein

2008-01-03T20:29:00.002-07:00


Milton Friedman Debates Naomi Klein, author of The Shock Doctrine: The Rise of Disaster Capitalism.

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Milton Friedman Speaks

2007-12-05T23:11:00.006-07:00

Milton Friedman takes a question on slavery and colonialization Transcript: Student: First you talk about the injustices which prevail in the so-called communist countries and in the free societies which exist in the capitalist countries and the wealth that has been created there. But you restrict your arguments to the Western European countries, the United States, and Japan. What you fail to point out is that most of the countries in the world are capitalist—that is, the means of production are owned privately or the accumulation of wealth is privately accumulated. Most of these countries have severely repressive governments, and most of them suffer from huge unemployment rates, hunger, and poverty. If we look at India as compared to China which has twice as many people and under its system—the Chinese system—has been able to achieve things for the masses of the people India could not even consider. The same thing goes— Friedman: Ah, would you come to your question? Student: All right. Just two more points. Because I— (comment from audience) Student: Excuse me, but I’d like a little bit of free speech myself. (applause) Friedman: That’s ok. We don’t want to deny you free speech, we just want to have as many people as possible. And I think we’ve gotten— Student: Thank-you very much. I agree with you so let me finish. The problem which a lot of us feel is first you did not mention, in terms of the countries you are pinpointing, such barbarous countries such as South Africa and Zimbabwe. And in terms of giving your appraisal of the riches that have been accumulated in the western so-called capitalist democracies, I would like you to give us an honest evaluation of just how these countries got so rich so quick and that direct relationship of that to the fact that there were slaves that worked—free labor, and the wealth that was created and this society being a direct product of that relationship and also of the colonial relationships of the Western European countries and the wealth which they bled out of their colonial domain. (applause) Friedman: I would be glad to answer those questions. First of all, there’s a sense in which every country in the world is capitalist. The Soviet Union is capitalist. Every country in the world has large capital under control, and the real question is of course, the organization in which the capital is controlled. In the Soviet Union it is controlled by the state or of by officials of the state. In the second place, I have been talking for an hour, I would like to talk you for 10 hours, in a full discussion I would certainly agree with you; that capitalism is not a sufficient condition for freedom. It’s a necessary condition for freedom. I never said that wherever you had capitalism you had freedom. I never said that. I never made that statement. I made the opposite statement. Wherever you had freedom, you had capitalism. Capitalism is a necessary condition for freedom, but not a sufficient condition for freedom. In addition, you need relatively broad access to capital and a relatively free market. Again, relatively. You need competition. I usually refer to it as competitive capitalism to distinguish it from certain kinds of systems which have been capitalist and have all the bad qualities that you describe. In the second place—I don’t want to take much time—to go to your final point. In the second place, it simply is not true that the enormous increase in the wellbeing of the free countries in the west arose out of slavery. Slavery was a blot on our scutch and there is no question, and of course it was a disgrace to this country to have had slavery as long as it did, but if you take Britain which did not have slavery— (Audience: They had colonies!) Friedman: I’m going to go to the colonies, that’s the next point. I’m trying to take one point at a time. The gentleman made two separate points, one had to do with slavery, and one had to do with colonies. Britain did not have slaves. Japan did not have slaves in the 100 years since the Meiji Restoration. Hong Kong today does not have slaves. And you ask yourself if you want to know how people feel—ordinary people feel—about different systems, you ask how they vote with their feet. And you ask whether it’s Hong Kong that has to put up police to keep people from Hong Kong going into China, or it’s China that has to put up police to keep people China going into Hong Kong? So look at the way people vote with their feet before you judge which society gives em better conditions. But in any event— (applause) Friedman: In any event, let me go to the final point of colonies. In the first place, it’s not true that the wealth or the benefits of the west derive from exploiting the colonies. The facts are against you. The reason why you say that is because it is so hard for people to get out of the notion that life is a zero-sum game. They think that if one man benefits another must loose. But in a free market, both people can benefit. Now if you take the case of Africa, the wheel had not been invented in parts of Africa by the end of the 19th century. The number of people in Africa and their average conditions of life in Africa have grown enormously as a result of their contacts with the west. (inaudible comment from the audience) Friedman: Well, I would say you don’t know your facts sir. In the case of India, which is a very famous case, if you look again at the facts all of the studies have shown that it cost Britain more to maintain India—these are some famous studies by Jacob Weiner which went into the details of it in great detail—colonialism has always cost the mother country more than it ever got in any direct or indirect economic benefit. Sofar as India was concerned, the history of India is divided into three periods. The period of British rule in the 19th and early 20th century, when there was very real progress in the standard of life of the people of India. The period of the 20’s and the 30’s when there was a great struggle against Britain and for independence when there was essential stagnation in India and there was no growth. The period since the creation of independence in 1948 when you have had a highly centralized government when unfortunately it was Harold Laski, and not Adam Smith, who was the most respected intellectual figure in India. When the Indian people have lost, not improved. When the average amount of food and so on has been going down, not up. The people of India have been worse off under independent, non-colonial government then they had been before. So colonialism, well first of all, where is it that you have colonialism today? You have the classic colonialism behind the Iron Curtain. You have Russia, which is a master country. I mean not the Union of Socialist Soviet Republics, but Russia which is the master country with the great colony around it within the Soviet Union in Poland, in Czechoslovakia, in Hungary. That’s the great example today of your classic kind of colonialism. The United States, with trivial exception, has never been a colonial country. It had Philippines for awhile— (audience comment) Friedman: Cuba was not a colony of the United States. In any event, you need a sense of proportion. In the period between the revolution in 1776 an 1898 the US had no colonies. And yet that was the period of the greatest growth and the greatest economic development of the United States. Your question. Milton Friedman on the morality of corporations seeking profits (Part 1of2) Milton Friedman on the morality of corporations seeking profits (Part 2of2) Transcript: Student: I think you’ve done an excellent job tonight of defending capitalism. Capitalism has treated you well. In general it’s treated the people in this audience well, and as you say, people respond to things based on their self-interest. So I think they’ve responded well to you. What I’d like to get to now is the question of the relationship between morality and economic policy which you talked about before in terms of the quotes from Thoreau. You said the worst sort of person is the person who’s going to try to be charitable and who is going to try and be— Friedman: No, that isn’t what Thoreau said. Student: Well you said that it was unwise for a person to be charitable or to be sincere. Friedman: No, no. Student: What did you say then? Friedman: Let me repeat Thoreau’s words. Thoreau’s words were, “If I knew for certain that a man was coming to my house with the conscious design of doing me good, I should run for my life.” Now that’s not the same thing as being charitable. Student: Ok, fine I’ll accept that distinction. Take what Thoreau just said and you’ve echoed and apply it to American business. I think, what you’re basically saying is— Friedman: Apply it to whom? Student: American business, a corporation. Friedman: A businessman? Student: You are the head of a corporation. Friedman: Oh, you’re applying it to me as the head of a corporation. Student: Can I ask you the question please? Friedman: Sure. Student: Now it seems to me that the implication is that that corporation should not try to do anyone else good, because then the people would run away. What they should do is pursue their own self-interest, and that means profit. And what I’d like to talk about is the implications of that in terms of three concrete examples. I believe that a couple of years ago when there was a major flood in Pennsylvania you came out as opposed to aid for those disaster victims based on the rational that they had bought the land at lower prices because the risk was known and they shouldn’t be given any aid. I’d like people to consider the implications of that. Friedman: That isn’t what I came out against. I came out against the government providing flood insurance at low cost in advance. I did not come out against private individuals giving charity to people. Student: But what about disaster aid by the government? (Audience: what should the government do about the nuclear power plant?) Friedman: Well it’s the same thing. The nuclear power plant ought to be made to pay full insurance themselves and that ought to be incorporated into their charges. I’m not in favor of government subsidization of nuclear power plant insurance. Look—don’t attribute to me your conventional views about what “a conservative” believes, because I’m not a conservative. I’m a believer in freedom! Student: Well then I’d like to talk about that using an example. Freedom. In Ohio an old man failed to pay his electric bill. You may be familiar with the case. And the electric company turned off the electricity and he died. The reason they turned it off is because it wouldn’t have been profitable for them to keep it on because he didn’t pay his bill. Do you believe that was right? Friedman: I don’t know the details of that case at all. But I can well believe— (interruption from the audience) Friedman: But I’ll be glad to— No no, excuse me. In many of these cases you hear stories which when you find the details are very different from those that have been presented. But let’s suppose it were true. Which is what I was going to go onto say. You know why do you want to stop me? Why do you assume I’m always going to give the wrong answer? (laughter) Friedman: Let’s assume the facts were true. The result is a tragedy. Who is responsible? Is it really the responsibility—should I blame the people—let’s suppose for a moment. Let’s suppose the electric company were to follow the practice of never turning off anybody’s electricity. Let’s just for a moment take that other extreme. Then this wouldn’t have happened. Who would pay the cost? Student: Are those the only alternatives? Friedman: Well—for a moment—we can come to other alternatives, but I just want to show you the logic of it. Because I want to show you— Student: You’re reducing it to absurdity. Friedman: No no, it’s not an absurdity, because what I want to show you that what you have to ask about, is the costs imposed on different individuals. The electric company is neither. The electric company is a non-human institution. The electric company—what you must talk about are either the stockholders of the electric company, the employees of the electric company, or the customers of the electric company. Those are the people involved. As you go to the other extreme and adopt the policy that the electric company will never turn anything off, then you’ve effectively instituted a system under which the only people who pay for electricity will be those who pay for it voluntarily. Now the number of people who will do that— Student: Mr. Friedman, are these the only 2 alternatives? Friedman: No, but I’m just showing you—you’ve gone to one extreme, I’m going to the other extreme and show you that where the responsibility really lies for they kind of thing you’re describing. The responsibility really lies not on the electric company for turning it off, but on those of this mans neighbors, and friends, and associates who are not charitable enough to enable him as an individual to meet the electric bill. You’re blaming the wrong person for what happened. Student: Ok, well I think people understand that example. I have just one more, this has to do with the Ford Pinto. I’m not sure if you’re aware of recent revelations that have come about the production of that car, Ford produced it knowing full well that in any rear end collision the gas tank would blow up because they had failed to install a $13 plastic block in front of the gas tank and Ford estimated in an internal memo that that would cost about 200 lives a year and estimated further that the cost of each life would be $200,000. They multiplied and found that the cost of installing those blocks in the cars would be more than the cost of saving those 200 lives. And over the past 7 years the car’s been produced and over 1,000 lives have been lost. It seems to me that Ford did what would be the right thing according to your policy and yet that seems to me to be very wrong. Friedman: Well, let me ask you, let’s suppose it would cost a billion dollars per person. Should Ford have put them in none the less? Student: It’s not a question of that. It’s a question— Friedman: You’re only arguing about price. You’re not arguing about principle. Nobody can accept the principle that an infinite value should be put on an individual life. Because, in order to get the money involved—in order to get the resources involved, it’s not money—they have to come from somewhere. And you want the policy that maximizes the situation overall. You cannot accept the situation that a million people should starve in order to provide one person with a car that is completely safe. Student: That’s absolutely right. Friedman: Right, and therefore you’re not arguing anything about principle. You’re just arguing whether Ford using $200,000 was the right number or not. Student: No I’m not arguing that. Friedman: Suppose it was $200 million? What should Ford have done? Student: $200 million for what? Friedman: Suppose it would cost $200 million per life saved? Should Ford still have spent that $200 million? Student: You mean per—that’s not really the question. Friedman: Yes it is the question. That’s the principle of the question. That’s the only principle involved. I don’t know whether Ford did the right thing. It’s a question of whether these numbers are valid numbers, for the relative cost of different things. You’re not arguing about a principle if you once agree with me that if it had been $200 million—the cost per life saved had been $200 million—you would not argue. Look, let me go back for a moment— Student: Can I say something in response to that? If Ford had not been able to market those cars in the same kind of economic bracket because of the price of installing this one plastic block that would be a different question. Maybe Ford could have considered re-designing the whole car so as to make it cheaper. But what we’re talking about is balancing advantages and balancing disadvantages. I’m a supporter of abortion. Therefore I don’t believe that every single human life is sacred. I believe that principles have to be balanced. And yet I don’t see Ford spending $13 less on each car at the cost of 200 lives a year as being a principled position to take and yet I think your logic requires it. Friedman: Suppose it had been one fewer life per year. So that the $13 per car, so that that one life, instead of being 200 times—$40 million—suppose that it had been one life a year so that it would have cost $40 million, would it then have been ok for Ford to not to have put in that block? Student: You can’t predict that one life will be lost because of a physical defect in the car. This was a clear— Friedman: I know, I know, but you’re evading the question of principle. Student: No I’m not; I’m saying they knew before they put the car out— Friedman: Look, look, excuse me. You know when you buy a car; you know that your chance of being killed in a Pinto is greater than being killed in a Mac truck. Student: No I didn’t. I didn’t know that the gas tank would rupture. Friedman: Every one of us separately in this room could at a cost, reduce his risk of dying tomorrow. You don’t have to walk across the street. The question is, is he willing to pay for it? The question he should be raising is—if he wants to raise the question of principle—the principle he should raise is whether Ford wasn’t required to attach to this car the statement: “we have made this car $13 cheaper and therefore it is one, whatever the percentage is, it is one percent more risky for you to buy. Now then he would be arguing a real question of principle— Student: Why should they do that? Doesn’t that interfere with the free enterprise system that you’re touting? Friedman: No! Not at all. Student: Why not? Friedman: The consumer should be free to decide what risk he wants to bear. If you want to pay $13 for that, you should be free to do it. If you don’t want to pay $13 for that— Student: Then the government does have the right to require information of corporations. Friedman: No, no. The government has the right to provide courts of law in which corporations that deliberately conceal material that is relevant can be sued for fraud and made to pay very heavy expenses. And that is a desirable part of the market. Of course. What I’m trying to say to you, is that these things are really a little bit more subtle and sophisticated than you are at first led to believe. You can’t get easy answers along this line. Because your way of putting it doesn’t really get at the fundamental principle. The real fundamental principle is that people individually should be free to decide how much they’re willing to pay for reducing the chances of their death. People mostly aren’t willing to pay very much. I personally regard this as very, very illogical. I see people on all sides of me smoking. Now there’s no doubt, nobody denies that increases their chance of death. I’m not saying they shouldn’t be free to smoke, don’t misunderstand me, I just think they’re fools to do it. And I know they’re fools, because I quit on the basis of the evidence 18 years ago. But that’s the real issue. And if you want to berate Ford, you ought to berate it on those terms. Not on the grounds that you don’t think they used the right number. Now look, I don’t think we can keep on going much longer. I’m afraid we’re gonna run out of tape and I’m afraid I’m gonna run out of voice. So I think I’ll call it there. Thank-you. About Milton Friedman Speaks The preceding clips are from a 15-part lecture series delivered by Milton Friedman from 1977 to 1978 entitled "Milton Friedman Speaks". The lectures were originally intended to serve as the core content of what later became the Free to Choose television programs and subsequently the best selling book of the same title. From Free to Choose's producer Bob Chitester: "When I first approached him about hosting a TV series, Milton was concerned about his ability to "talk to the camera," so he proposed giving a series of lectures, which would be used as the core of the TV programs. In an effort to convince him to undertake the venture, I agreed to try this approach, while explaining my reservations. After doing about six of the scheduled lectures, he realized my assessment was correct, but since he had already agreed to the other appearances, all 15 were completed. The lectures will introduce you to Milton Friedman's brilliant analytical skills while demonstrating his ability to make economics understandable. "
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The US Economy: A Quick Quiz

2007-12-03T21:27:00.001-07:00


Of seven questions, how many did you answer false? Since 1776, The American Principles of 1. Individual Freedom 2. Democratic Self-Government, & 3. A Free-Market Economy have built the USA into the greatest economic engine in the history of nations. FREEDOM (hat tip: Carpe Diem)
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Sutherland Productions - Why Play Leap Frog?

2007-12-03T21:22:00.000-07:00


A Harding College Cold war-era cartoon aimed at convincing workers that increased productivity brings about greater purchasing power. Joe works at the Dilly-Doll factory as a face painter, and is upset because nearly every one of his raises is offset by an increase in the cost of goods. But the narrator explains that labor costs are to blame and Joe quickly learns to use the system to his own benefit. It is a Freedom Foundation award-winner shot in Technicolor. About John Sutherland John Sutherland worked as a assistant director for Disney before opening John Sutherland Productions in 1944 with the encouragement of Walt Disney. They specialized in writing and producing animation/live-action films and supportive print material during the remainder of the war years. Soon thereafter, Sutherland began turning out animated industrial and propaganda films and was a place many animators went during periods of inactivity at the other animation studios during the 40s and 50s.

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Sutherland Productions - Meet King Joe

2007-12-03T21:20:00.000-07:00


This theatrical cartoon was produced to create a deeper understanding of what has made America the finest place in the world to live. Joe, who wears overalls and talks with a pseudo-Brooklyn accent, is king of the workers of the world because the machinery in his factory multiplies strength and efficiency. This is part of the American way of doing things, the narrator tells us. About John Sutherland John Sutherland worked as a assistant director for Disney before opening John Sutherland Productions in 1944 with the encouragement of Walt Disney. They specialized in writing and producing animation/live-action films and supportive print material during the remainder of the war years. Soon thereafter, Sutherland began turning out animated industrial and propaganda films and was a place many animators went during periods of inactivity at the other animation studios during the 40s and 50s.

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Sutherland Productions - Going Places

2007-12-03T21:19:00.000-07:00


This Harding College animated short defines the profit motive and dramatizes the part it has played in the economic development of America. It stresses the need for continued industrial profits if economic vitality is to endure. The film stars Freddie Fudsie, a lazy soap maker, who just wants to go fishing. He invents bar soap, makes some money, and is about to retire in peace and quiet then the sexy female Profit Motive walks by and Freddie, who suddenly needs more money to win her affection, never sees a fishing hole again! About John Sutherland John Sutherland worked as a assistant director for Disney before opening John Sutherland Productions in 1944 with the encouragement of Walt Disney. They specialized in writing and producing animation/live-action films and supportive print material during the remainder of the war years. Soon thereafter, Sutherland began turning out animated industrial and propaganda films and was a place many animators went during periods of inactivity at the other animation studios during the 40s and 50s.

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Sutherland Productions - Make Mine Freedom

2007-12-03T21:17:00.000-07:00


This Cold War-era cartoon uses humor to tout the dangers of Communism and the benefits of Capitalism. The film notes that America gives everyone the freedom to work at the job you love, freedom of speech and peaceful assembly, freedom to own property, security from unlawful search or seizure, the right to a speedy public trial, protection against excessive punishment and fines, the right to vote, and the right to worship God in your own way. However, despite these freedoms problems such as tension between labor and management, and inequality do exist. Dr. Utopia introduces a magic "ism" that can cure all problems that a free society has. Unfortunately the price doctor Utopia charges is all of a persons possessions and their freedom. About John Sutherland John Sutherland worked as a assistant director for Disney before opening John Sutherland Productions in 1944 with the encouragement of Walt Disney. They specialized in writing and producing animation/live-action films and supportive print material during the remainder of the war years. Soon thereafter, Sutherland began turning out animated industrial and propaganda films and was a place many animators went during periods of inactivity at the other animation studios during the 40s and 50s.

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Free to Choose 1980 - Volume 6: What's Wrong With Our Schools?

2007-12-03T21:12:00.004-07:00

Part 1 Part 2 Part 3 Part 4 Part 5 Part 6
Parental choice and parental responsibility in the education of children is the U.S. tradition and is consistent with a free society. Centralized government control has eroded freedom and adversely affected the quality of education. The poor help pay for education for the future rich. Friedman has long advocated using vouchers to solve the problem. In "Free to Choose 1980 Volume 6 - What's Wrong With Our Schools?" he explains why. Friedman visits U.S. and Britain and debates Albert Shanker; President of the American Federation of Teachers, John Coons; Initiative for Public Choice in California, Thomas Shannon; National School Boards Association, and Gregory Anrig; Department of Education. Free To Choose was an award winning PBS television series featuring the Nobel Prize-winning economist Milton Friedman. 10 films make up the series, each featuring a short documentary where Milton Friedman presents his views on a given topic followed by a discussion and debate with various participants including politicians, academics, business people, et al. In general the views expressed are contrary to the status quo of government involvement in daily life. At the time the series first aired it was given poor time slots by station managers that did not want it broadcast, and the program was even banned in France. Despite this suppression, the series went on to become a smash success leading to the best selling non-fiction book of 1980 and a follow-up series in 1990.
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Full Transcript Free to Choose @ Wikipedia FreetoChoose.com