Milton Friedman vs. Phil Donahue, Greed Is In The Eye Of The Beholder.
Hayek’s quote, “…The battle for freedom must be won over and over again, the socialists of all parties must be persuaded or defeated if they and we are to remain free men“, is never more true today. This battle Hayek talks about has been going on constantly since the beginning of recorded history, and will continue to go on till the end of time. Watch this video of Milton Friedman, in either 79 or 80, when he was on the Donahue show, it is an example of the two different visions of how the world works.
Since we know humans by their nature are self-interested (greedy), ask yourself which economic system deals with self-interested individuals better, the free market or central planning? Read this previous post, Why Socialism Won’t Work? Human Nature.
Related post, We Can’t Recreate The Garden Of Eden, by austrianaddict.com
This entry was posted on April 16, 2013 at 9:55 am and is filed under Econ. 101. You can subscribe via RSS 2.0 feed to this post's comments.
Tags: F.A. Hayek, Free Markets, Government Planning, Greed, Milton Friedman, Socialism
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AUSTRIAN ECONOMICS ADDICT 
April 16, 2013 at 7:48 pm
Danny
It’s sad that the emotion of a hoped for illusion seems to trump the logic of reality. Unfortunately trying to accomplish an impossible illusion, has real world costs.
austrianaddict