Milton Friedman on Crony Capitalism

This site has given Mr. Freidman a hard time on some things. But though we might disagree with him on some very substantial points, we agree with him on many more. Friedman was an ally of freedom as the below video illustrates.

The late 70s were good times for small government people. Keynesianism was dying a death by stagflation and people were looking for answers. Ronald Reagan, Margaret Thatcher, Milton Friedman, and even the Libertarian Party were on the rise. For the first time since the initiation of the New Deal free enterprise was getting a hearing in the public sphere.

In this video from 1978 Professor Friedman explains that he is free enterprise and not necessarily pro-business.  First and foremost he is against concentrations of power. Such concentrations, when large enough and numerous enough, make a free society impossible.

When business and government get together- then watch out.

1 comments
Aidan Haggerty
Aidan Haggerty

We need a re-rise of conservatives/tea party people in all forms of government. Maybe then the economy might improve.