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Milton Friedman makes a sharp observation: we talk endlessly about profits, but losses are what make free enterprise work. Markets force failed ventures to close. Government? It rewards failure with expansion. Friedman argues the loss mechanism—not the profit incentive—is what makes markets work.

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30,097 views • 4 months ago •via X (Twitter)

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Thomas Sowell cites Milton Friedman in 2026 interview “Milton Friedman used to say that people call a capitalist society a profit society—it’s a profit-and-loss society. The losses are just as important as the profits, because the losses force people to stop doing things that are not working.” “Only those who are doing things that can be self-supporting can continue.”

Thomas Sowell cites Milton Friedman in 2026 interview “Milton Friedman used to say that people call a capitalist society a profit society—it’s a profit-and-loss society. The losses are just as important as the profits, because the losses force people to stop doing things that are not working.” “Only those who are doing things that can be self-supporting can continue.”

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Never seen this video until today but boy does Milton Friedman nail it in 1978. In 1978, Milton Friedman explains that the government bears no responsibility for alleviating poverty and that’s it is up to individuals to take action. He argued that the most effective way for people to exercise this responsibility is through the free enterprise system and the free market, which, in his view, have historically been the most powerful tools for reducing poverty. Now you can argue today that we don’t have a complete free enterprise system and I agree with that, but I haven’t seen anyone get out of poverty once they get on that government crack of free money for nothing.

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Carney going after Pierre, claims he never earned a paycheck or had to make payroll which when he said that the crowd did not seem impressed with him. Also is he mocking the power of the market, free enterprise & Milton Friedman? Carney is not a good man.

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Ronald Reagan awarding Milton Friedman the Presidential Medal of Freedom in 1988 “Teacher, scholar, and theorist—Milton Friedman restored common sense to the world of economics.” “A winner of the Nobel Prize, Milton Friedman’s technical mastery of his profession is unchallenged. But more central to his work is its moral component: an idea of human freedom in which man’s economic rights are as vital as his civil and human rights.” “It is for his celebration of the human spirit as well as the brilliance of his mind that I bestow upon Milton Friedman the Presidential Medal of Freedom.”

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"Why was free immigration good before 1914 but bad today?" We romanticize the open borders of the past. Back then, immigrants came to work, not rely on welfare. Add mass migration from Africa and the Middle East, and it's a formula for disaster. — Milton Friedman

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With any mechanism, the more you know about it, the better you handle it. This is also true with the human mechanism. Knowing the nature of your existence makes you successful, not just in terms of society, but as a life. A successful life is when who you are is determined by you, not by what is around you. - Sg India in Dubai

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