38 votes

Milton Friedman's epic defense of liberty leaves Donahue speechless

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Good old Milton, wrong as ever

There CAN be directed and co-operative initiatives that originate in the public sector. Take broadband, for example: compare the weak penetration of 10mbps+ broadband for quite some time here in America, to Japan's ubiquitous 50mb+ download connectrions dating back to the mid 2000s. Japan's advanced networks were only made possible by a state-sponsored competitor. Keep in mind that a competitor will probably be state-sponsored against the people to some degree in the current system.

Take for example once-mayor of Philadelphia, Randall, who worked in private with verizon lobbyists to formulate a bill (subsequently pushed through state legislature) that shut down budding free municipal wi-fi in inner city areas where few could afford broadband (and infrastructure is quite outdated). The excuse? "Businesses should not have to compete with government." But just that is what has seen to Japan far outpacing areas of America in broadband deployment.

Citizen initiatives are disabled easily when all our elected officials are bought. Discard the illusion of a free market in all cases--it's a fantasy. Mammon or Christ, choose one. The free market mentality is itself a religion, and even more frightening than the free market Christian (who at least on paper is subject to new testament tenets) is the libertarian atheist, who anchors himself to a righteous lack of social responsibility and cares little about what will be left in his wake.

Corporations DO subject people, and a collective intent to keep them in check is not socialist--it's common sense property rights that, nowadays, states would sooner collude with corporations than respect. To Milton, when the government intervenes as a representation of the will of the people, it's a travesty, but when people die due to unforseen consequences, those are merely "externalities". Once again, christ or mammon: choose one.

The guy's a fucking songspinner.

I always did like Donahue

agree, disagree does not matter when respect is shown. today's 'propoganda readers'/reporters/"journalists"... whatever you call them - need to pay attention.

Correct. Even though Donahue

Correct. Even though Donahue is a socialist, he has always been 100% on target on foreign policy. He falls in same bucket as Ralph Nader, Dennis Kucinich, Noam Chomsky etc. All of them are socialists & misguided in their economic understanding, not seeing that their socialism would lead to fascism. But they're ALL very sincere in their foreign policy stance & I respect them for that.

Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!

Friedman On

Friedman On Libertarianism:

Friedman On Central Banking:

Friedman On Gold Standard:

Friedman On The FED:

From what I have seen, he does say that the Fed was responsible for the depression through deflation. But his solution was not to have the Fed print more, it was to get rid of Fed altogether. In the last video he says:

"The fundamental problem is that you shouldn't have an institution which depends on whether he [Bernanke] is good or not. My first preference would be to abolish the Federal Reserve".

WearsMyLiberty.com - Liberty shirts and Ron Paul shirts to spread the message

Though Austrians will have

Though Austrians will have qualms with Friedman, he, nonetheless, was a great expositor of freedom. He had a knack at explaining hard concepts will ease and clarity.

malo periculosam libertatem quam quietum servitium

I am an aristocrat. I love liberty; I hate equality. - John Randolph of Roanoke

michcrow's picture

Great interview!

Great interview!

Two shorten the road.

Indeed a fine "interview"

but the "speechless" part is slightly off track. Donahue is simply doing what he should do; remaining silent while his guest speaks. We are not used to this since we get the likes of Matthews, Maddow,O'Reilly etc. They all constantly interrupt, constantly argue, and frequently have no idea what they are talking about. Donahue kept his mouth shut, sat back, listened, and learned. If he disagreed it was almost always with respect.


I agree

Donahue is very liberal but a true journalist. Like Buckley on Firing Line, he also offered a diverse range of guests that you don't see today.

Friedman ❤ Federal Reserve & The Income Tax

Sad Milton Friedman was such a lover of the Federal Reserve. He's also the inventor of the withholding tax, i.e. working with the Federal Government to transfer the burden of tax collection from the Feds to each individual employer. You can thank HIM for ability of the IRS to extract its money straight from your paycheck before you ever get to see it.

Friedman was no austrian, that's for damn sure. Father of the Chicago school supply-siders. Right about much, but tragically wrong on too much!

Federal Reserve & The Income Tax

My research shows you are right on the witholding tax issue, a decision he later regretted. I found this info. The Father of Income Tax Withholding
Milton Friedman was born in Brooklyn in 1912, one of four children born to Jewish immigrants. He studied at Rutgers University, Chicago University and Columbia, focusing on mathematics and economics. During his Ph.D., WWII broke out and Friedman took a break to work for the Treasury Department. He was part of a think tank that brought about income tax withholding as a "temporary" measure to help fund the war. Though he never questioned the necessity of it in wartime, Friedman later regretted having forced withholding on Americans. Friedman was appalled when the government made the emergency measure a permanent part of its peacetime taxation. (Learn how Milton Friedman's monetarist views shaped economic policy after World War II, read Monetarism: Printing Money To Curb Inflation.")

but, as far as the FED goes my research showed this http://www.swifteconomics.com/2009/09/02/milton-friedman-abo... He wanted to abolish the FED.

Is this incorrect?

My First Post on the DP

This was 2 minutes and 24 seconds of absolutely an amazing interview, that it motivated me to finally post on the DP. Thank-you Jay0718

Susie 4 Liberty's picture

Welcome NYdem4Paul!

Glad you're here with us! Have a feelings there are many more like you!

Susie 4 Liberty

Thank-you for your Warm Welcome

I was a tad nervous about posting after reading some of the attacks and being that I am a Democrat. So your welcome is deeply appreciated!

Once you open your eyes..

And start seeing that BOTH parties are shitty, political affiliations dont matter. I am still a registered repub, but believe me, i am not. I used to watch fox and listen to hannity, now i look at them and see just how similar the two parties are. Its hard to see the big picture when you are on a side, step back and look at it, THEY ARE ALLLLLL THE SAME! Think about this for a second, Obama wins Nobel peace prize but steady dropping bombs and looking for another fight. Reagan (the rights super conservative genious role model that gives Rush and Hannity a boner when they mention his name) increases debt by $1bil....WTF? They have no real beliefs, they believe what they think they need to believe in to get elected.

the message of liberty brings people together

regardless of political party affiliation, financial status, sex, religion, race.... the truth sets us free. Our differences make us strong. Welcome!


For 10 days in 1980 I knew where I was going to be at 5 pm. Watching "Free to Choose" on PBS.

The link above has many sources for Milton Friedman.

"Timid men prefer the calm of despotism to the tempestuous sea of liberty" TJ

I have to hand it to Donahue

I have to hand it to Donahue though, he entertained his opposition without ambushing, degrading, or yelling at him. Maybe that's why he got canned from TV.

Milton Friedman Wrote My Econ 101 Textbook of 1973

Milton Friedman wrote my econ text, and I knew right away he was right. The other text, by Paul Samuelson, a statist, was not credible.

What do you think? http://consequeries.com/

Thanks for posting! It has

Thanks for posting! It has been a great day for the Revolution!!!

Wow thanks!

Wow thanks!

Had to log in

just to comment on how awesome this clip was. It can be hard to demonstrate clear thought on the philosophical background of true liberty in front of die hard progressives. Especially when you have to seek out this knowledge on your own, outside the norm of society.

I'm moved to learn more of this Milton Friedman.

truth liberate

Straight from THE FED web site...

Here's what Fed Chairman Ben Bernanke said to Milton Friedman:

"Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."


Except Milton Friedman

Except Milton Friedman thought they didn't do enough to create inflation. Friedman was a statist on the issue of monetary policy.

Thank you for posting this...

I have heard the name Milton Friedman but I have never went and read his writings or listened to him before this. I will now go and get a crash course on this man. Again thank you for posting this video.

This is a must see


Make sure to watch the Free to Choose series on Youtube. It's like getting a Master's degree in Economics in 10 hours:


2 Chron 7:13-14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land.

You cannot call yourself a libertarian until

you have gone on youtube and typed in Milton Friedman. To know the man is to know genius.

I used this video to straighten out classmates

in a UMass business class online. The Prof was a Marxist and the class started questioning capitalism. I would post Friedman everywhere to get the students to understand. The Prof hated me.

Absolutely beautiful! Ty for

Absolutely beautiful! Ty for posting..