An appreciation of Milton Friedman

with Milton Friedman
in In Memoriam
on Friday, November 17, 2006 * * * * *

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An excerpt from Charlie's last conversation with Milton Friedman, which took place in December 2005. They discuss Friedman's legacy, his take on the state of American society and his outlook for the world and its economy.

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Keywords:
Nobel Prize
free market
Economics
monetarism
economist
Milton Friedman
libertarianism

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  • Comments 4
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    1. Christopher  01/08/2009 06:58 AM Report

      I like that he hated communism but he loved Pinnochet. He supported that government more than he did the previous one in that country. That is a hard legacy to admire. He may have been a "good" economist. But he supported Latino dictators that supported deregulation and did not support democratic leaders that supported mixed economies. He mentions England of the seventies that was "socialist", and they voted for someone else (but in the third world, a dictatorship is better). This, in my humble opinion, is a tremendous flaw in his reasoning, and unforgivable as an intellectual. When he talks about freedom, he makes a flawed relationship between a free market and democratic countries. He can't reconcile mixed economy and democracy, that somehow, a bit of regulation will lead to dictatorship, which is fundamentally flawed.

    2. Adam  09/14/2008 11:33 PM Report

      I'm surprised that Friedman would appear on a PBS program when PBS is something that his free-market fundamentalism would go against.

    3. StanJones.ca  01/01/2008 01:04 PM Report

      What the very smug Mr. Friedman is talking about, I believe, is libertarianism for an increasingly shrinking strata of elites. The underlings can fight it out amongst themselves for Walmart franchises and trading jobs on Wall Street. Forget the proles -- they don't matter a whit. They may have libertarianism too, but they won't have the power to do anything about it.

    4. Charles K Fairchild  05/03/2007 08:59 AM Report

      Friedman was right on most issues, informative on all.