Posted by
The CL Project on Thursday, May 07, 2009 4:28:18 PM
From our vault of classics, comes the "patron saint of Capitalism” - Milton Friedman in the following short clip from his 1979 interview with Phil Donahue on “The Phil Donahue Show". It's an interview that remains especially salient now, in an inaugural year of a presidency whose signal achievements include the forced acceptance of federal loans by private financial institutions and the writing of rules by bureaucrats limiting the incentives and awards available for individual enterprise. Friedman is beautifully persuasive in his simplicity and eloquence...
"So 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 a free enterprise system."
Reason has a tremendous article regarding the Friedman clip and standing up for capitalism here.