Liberty Pen: Professor Milton Friedman- Power of The Market: Welfare Insurance

Source:Liberty Pen- Professor Milton Friedman in 1979-80.

"Milton Friedman explains the dynamics of welfare (8 of 30) Liberty Pen"

Source:Liberty Pen 

The safety net at its best, is a system that helps people when they are in need. Like when they are out-of- work and haven't been able to find new work, don't have the savings to take care of them while they are unemployed. Or lack the skills to get them a good enough job that will allow them to pay their bills and allow them to live self-sufficiently. That's what the safety net is there for, to help people while they are in need, until they are able to take care of themselves. That's what the safety net is suppose to be. 

What the Roosevelt Administration in the 1930s and then the Johnson Administration should've tried to establish in the 1960s, was a public social insurance system for people who needed it. The main problems with the New Deal and Great Society, is they created a system that incentivizes welfare over work, where you can get more money not working and not being educated, over working and being independent. Which I believe is the main point that Professor Friedman is making here.