Milton Friedman casually dismantles the “capitalism = greed & exploitation” narrative on national television: “Tell me, is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? The world runs on individuals pursuing their separate... interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. The only cases in which the masses have escaped from the kind of grinding poverty you’re talking about are where they have had capitalism and largely free trade. If you want to know where the masses are worst off, it’s exactly in the kinds of societies that depart from that. The record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by free enterprise.”show more

The follow-up.

You cut off the best line from this interview. “Where in the world are you going to find these angels to organize society for us?”

What's even more impressive is that discussions like this used to appear on television, and people watched it. Hard to imagine nowadays.

Capitalism is why there are airplanes and rockets

I can't imagine Milton Friedman being interviewed in today's climate. I watched his "Free to Choose" weekly show, and read his best-selling books. The legacy media would do their best to ignore him now. We need someone like him who can explain things clearly to the masses.

Milton Friedman on the Phil Donahue Show in 1979 (with captions)

Thinking you are going to be better off and prosper with the government taking care of you is crazy, The only ones that get richer in the government are the politicians.

I miss the days of hosts asking real questions and waiting for an answer. I miss the days when you had guests of intelligence and not of shock or divide. Where did we go wrong??

Communism = greed for power

This is just common sense, that so few today apparently have.

I remember seeing that. Donahue was son outclassed

The PURSUIT of happiness. The key word being 'pursuit'. It implies effort, exertion, tenacity & will power. Most of those who support communism, socialism & oppose capitalism are the weak minded who ALSO want things (without earning them) & they hide behind social justice.

I never tire of this interview, it's so classic. One thing we're lacking today is civility and debate. Can you imagine this type of interaction between opposing views on today's media?

This is my all-time favorite quote from Milton. The man was a marvel.

Yes. Also… Phil Donahue was insufferable.

The history of capitalism is the story of how luxury goods became mass-market products. Then came envy, then leftist ideologies, simply stupid. Left wing adherents fail to realize that they generate poverty, apparently, it makes them happy

Milton Friedman is always and everywhere a nasty person. There is nothing much that Milton Friedman got right! – William Mitchell

I love seeing Donahue’s sour face when Milton knocks him down a few pegs.

The book to read is Capitalism and Freedom by Milton Friedman.

I love this show. (It’s on YouTube, in its entirety…2 whole shows…or it was). So (truly) educational. …and fun to watch Phil squirm a little.

thanks for posting that. I wish you included the nest 30 to 40 seconds because it points out political self interest is no more virtuous than financial self interest.

Anyone who's sat through UK public sector procurement knows exactly what he means about bureaus.

The man was a fucking moron and largely responsible for the mess America is in at present. China's example is a stark contrast and flies in the face of everything this man stood for.

The most destructive greed in this country is the greed of our politicians and the government. Both expect more for doing nothing.

MF was a giant

Phil would perfect on The View today. His self righteous and uninformed style would fit right in.

These programs are amazing. Not many can leave Donahue speechless like that.

Milton Freeman is the kind of man whose wisdom is so broad and deep that you wanna learn and experience it slowly and let it seep to stay like life-giving rain that nourishes the mind and soul and emotions all at the same time.

When a non-thinker who swallows the propaganda pill is wrecked by a thinker. This was one of TV history’s greatest moments.

Phil D was a cuck sissy loved by tons of white women who thought he was so kind and charming. He brainwashed them into stupidity.

💯 Twisted propaganda in support of Oligarchy. "Free enterprise" without the Moral Covenant of Governance is dressed up tyrannical rule. Greed is NOT good -- it's an expression of money as a god.

This 👍

🤣 Phil Donahue... the original beta

Donahue🤮