Sidewinder 77: Milton Friedman- 'On Self-Interest and Profit Motive'

Source:Sidewinder 77- Chicago University Professor Milton Friedman, giving a lecture in 1978.

"This clip is from the 15-part lecture series, "Milton Friedman Speaks" 

From Sidewinder 77

The reason for capitalism or in America the reason for American capitalism, is that in an economy like that, it's assumed that the people can make it on their own if given the opportunity. That there’s a limit to what government can do and should do. 

The whole point of constitutional law and limited government and federalism, that government doesn’t do everything right and when it tries to do too much, like taking so much out of the economy to take care of its people, doing things for the people that they can do for themselves. like run a business, make their own health care decisions, plan for their retirement, decide where to send their kids to school, etc, and you can go down the line, that it becomes expensive, intrusive, and inefficient.  

But if you empower the people to not just make their own decisions, but the right decisions, educated people tend to become free people, which frees up a lot of resources for government to do what we actually need it to do as a free society, like protect and defend. Not try to un our lives for us.  

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