Milton Friedman on Why Capitalism Works
-By Warner Todd Huston
Back in the 70s, free-trade economist Milton Friedman appeared on Phil Donahue’s show, Phil well-known for being an anti-American lover of communism, and schooled him on why capitalism was the best, the only, system for mankind’s betterment.
After the communist Donahue hectored Friedman on how rotten capitalism is, Friedman correctly said that, “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’ve had capitalism and largely free trade.”
If you want a short, concise explanation on why capitalism works. Watch this video.
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Posted by Warner Todd Huston on October 5, 2009 12:03 pm
» Filed Under Anti-Americanism, Anti-Capitalism, Communism, Delusional Dupes and DUmmies, Democrats, Economy, Government, Government corruption, Hollywood, Journalistic Malpractice, Liberal Media/Bias, Liberal World, News, Socialism, Video, liberalism
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One Response to “Milton Friedman on Why Capitalism Works”
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Get off the word Capitalism, as that was Marx’s word for European mercantilism. What Moore opposes is individual freedom and the resulting Free Market that made us so prosperous. See http://www.claysamerica.com for more on this.