1/14/2014

"Income Inequality " - Milton Friedman vs. Barack Obama


Barack Obama and the Democrats have said that they are going to make "income inequality" one of their primary planks for 2014, emphasizing "the haves vs. the have-nots".  We are already seeing and hearing speeches by the President addressing this, NY Mayor Bill De Blasio speaking of a progressive wave sweeping over the country, and leftist in Washington state (SeaTac) foolishly raising the minimum wage to $15/hr.  The left is on the march again pitting rich vs. poor, the 99% vs. the 1%,  the Proletariat vs. Bourgeoisie.

It is with this in mind that the now-famous appearance of Milton Friedman on the 1970's Phil Donahue Show popped into my mind. It shows that, contrary to what many people want us to believe, Barack Obama is not some brilliant economic visionary.  His arguments are the same ones that have been made between the left and the right for decades, and they are the same ones that Phil Donahue makes in this video. Today's left is just regurgitating the same old arguments they have always made. They're just counting on a new generation that is ignorant of that fact. Thus, these video to show that the new is the same as the old.

The first video is a short segment in which Friedman addresses "greed", completely obliterating Donahue's argument against capitalism.

The second video is the entire show, and is equally entertaining and educational. Well worth the time to set aside the 45 minutes to watch and to acquaint (or reacquaint) yourself with this great thinker, especially the under 30 crowd who may not have heard of this great man. God knows, our current educational system doesn't teach this stuff anymore.

Milton Friedman on Greed


Full Episode


Posted by Brian
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