Milton Friedman - Socialism vs. Capitalism

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[Mier]

Economist Milton Friedman taught Donahue a lesson when Phil attempted to equate greed with capitalism.

Friedman regards free enterprise as the best economic system ever developed by civilization and cites history as the proof of his contention.

Milton Friedman, 1912 - 2006

[Mier]

This must have first aired in the late 70's or early 80's. But doesn't Donahue sound exactly like the Dems/Socialist drum beat of today. The greedy rich, distribution of wealth, it's the same old tired garbage the dummies are spewing today. I never get tired of hearing the common sense voice of Milton Friedman. No doubt it all went in one ear and out the other for commie Phil.

[yobid]

BFL

[Telepathic Intruder]

I hear it all the time, from college professors to Hollywood actors, that capitalism = greed, and without capitalism there would be no greed. The entire assumption is false, however. Humans evolved as hunter-gatherers for the last couple hundred thousand years. If we did not instinctively keep what we have, we would not have survived. So you can’t eliminate what they call “greed” without fundamentally altering humans themselves. Besides, what is their solution? Taking away from some people and giving it to others. Theft on top of greed.

[St_Thomas_Aquinas]

I hear it all the time, from college professors to Hollywood actors, that capitalism = greed,

"Capitalism" is simply people freely trading with each other. We should avoid this Marxist term.

We should take the phrase, "fair trade," back from the moonbats, since this accurately describes the free market, but doesn't sound as antiseptic.

[Blood of Tyrants]

Donahue sits there all self righteous in his condemnation of “greed” while wearing a $1500 suit and flying on private jets eating $100 an ounce caviar. He is just your typical limousine liberal.

[who_would_fardels_bear]

We no longer get to choose between socialism and capitalism.

We get to choose between various forms of crony-favoring welfare state 'capitalism'.

[GeronL]

bump

[DJ MacWoW]

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[who_would_fardels_bear]

Socialism is just a stupid form of capitalism. It is capitalism where the only thing that is traded is power and prestige.

Regular capitalism deals in the highly fungible asset called money. This can be converted into power, prestige, wealth, cars, houses, travel, larger breasts, etc.

How much nicer is it for people to exchange cash that they can convert into whatever they personally prefer?

How stupid is it to create a system where the only thing that can be bought and sold is a higher rung in the pecking order?

Maybe you get an office with a slightly better view. Maybe your government job gives you a few more perks such as foreign travel. This may suit some people, but not the great variety of people that are served by a freer market.

[Telepathic Intruder]

"Capitalism = greed". Yes of course it's a Marxist term, and a direct lie. But Marxists rely mostly on false comparisons to pedal their failed philosophy of institutionalized thievery. To them buying and selling at a higher price is thievery instead, even though no one is being forced to to anything. They would prefer a system where the government forces the price and controls the commodity. As a result, there's no real wealth creation and no balance between supply and demand. Economic chaos in reality.

[GeronL]

bump

[dfwgator]

Communists totally ignore the fact that profit is the reward for risk. Who would ever take any risks if there wasn’t a chance for profit? How would society progress?

[cpdiii]

“A socialist thinks no one should have a house like that.”

I had a house like that in 1983 and lost my ass in the crash of the oilfield. Oil went from 37 dollars a barrel to 7 dollars a barrel before it was over.

I did not bemoan my fate or blame capitalism. I sold my house, my airplane and went back to University and obtained a new degree in Pharmacy.

I now have a better place to live than that house I sold.
Capitalism gave me the opportunity to hit bottom and turn around and come out on top again.

Socialism is a wonderful concept with one “small problem.” it does not work. It pulls people down to a common level of misery and rewards the corrupt on the top. It has a lot in common with “Crony Capitalism” which is not capitalism but simply corruption by corrupt leaders working on behalf of the state and their own benefit. They have a name for this it is Fascism.

[DJ MacWoW]

Congratulations on the turn around! Only in America is that possible and Obama hates us for it.

[Sergio]

bkmk

[AllAmericanGirl44]

bkmk