The virtue of greed

November 12, 2007

Milton Friedman on Donahue discusses greed and capitalism.

http://www.youtube.com/watch?v=RWsx1X8PV_A 

Friedman was like Merlin the Magician at saying things that made people go hmmm, especially about free markets.  Most people can’t fathom how free markets work and reflexively believe that they don’t work because greed is bad.

Friedman does a masterful job in this vid at dispelling the myth that greed drives capitalism.  Rather self-interest drives capitalism, and that’s not the same as greed.  And, wouldn’t you rather have your interests driving what you give and get from society than a communist commisar or even the President of the United States?

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