Watching clips like this makes you realize how much television and the overall quality of dialog of modern media has degraded.

@ThaRealChuckD

3 жыл бұрын

Isn't that the truth.

@jimmy6501

3 жыл бұрын

What is degrading about this dialogue? Friedman is totally decimating Donahue's unqualified and non-factual opinions and statements. Friedman is a master of knowing the facts, who is also a master of analysing many complex issues, which is such a rarity among men. Friedman is nothing less than a FORCE that is able to poke holes in the conventional wisdom of the day. Not to mention the absolute good nature of Freidman and his infectious humor. He is the ultimate optimist as opposed to folks on the left who are overwhelming pessimists. Friedman has totally taken Donahue to task on every issue that Donahue has raised in this interview. The "quality of dialog of modern media has been degraded" falls squarely on Donahues' shoulders.

@jameshampton7833

3 жыл бұрын

And how has it degraded? What is the quality of the content in the media these days? Whose views and lifestyles predominate? Who has degraded the quality? Someone is putting out the garbage; who is it?

@CorrectCrusader

3 жыл бұрын

James Hampton The millennial bs cultural degradation

@paintpot2

3 жыл бұрын

Ah, the irony. Thanks to the influence of Milton Friedman, Ronald Reagan, Bill Clinton, neoliberalism, and "laissez faire economics."

This is an excellent conversation. If it were held today they would try to discredit Freedman by labeling him a racist.

@kevinneedham9643

3 жыл бұрын

Then you’d have Sowell coming to his defense. But, they’d label him one too. 🤦‍♂️

@petersams5054

3 жыл бұрын

behind closed doors he was absolutely a racist

@kevinneedham9643

3 жыл бұрын

@@petersams5054 🙄 see

@kevsamuelsdiedwafathookeri2254

3 жыл бұрын

@@petersams5054 So was FDR, LBJ and Jimmy Carter. Yet no Leftists would ever admit that. People are products of their times and upbringing. You listen to black separatists/Hebrew Israelites in 2021 their arguments are similar to white supremacists in the 1800's to 1920. Everything in ignorance gets recycled. Just as modern authoritarian Leftism is being disguised as "social-justice" and "anti-oil environmentalism/climate change". Recognizing failures in the culture of certain ethnicities, *isn't* racism. It's brutal objectivism with a purpose that ultimately leads to *all* races achieving the closest thing to genuine egalitarianism possible. Not fake Leftist "equality of outcomes", pie in the sky dreaming that keeps minorities crippled and dependent on govt forever.

@dukemd69

3 жыл бұрын

@@kevsamuelsdiedwafathookeri2254 Bingo!!

50 years later and this conversation is still relevant and applicable. The more things change, the more they remain the same.

@mypitgobblin1

Жыл бұрын

Such a true statement! I wish there were hundreds of Milton Friedman's!

@peterherard8207

Жыл бұрын

There's nothing new under the sun - Solomon

@StanSwan

Жыл бұрын

Everything Milton is saying is the exact opposite of what Donald Trump and MAGA run on. MAGA is no different than the Democrats.

@Mr.Hall3850

10 ай бұрын

My thought exactly

@kimobrien.

6 ай бұрын

@@Mr.Hall3850 The oil industry wants regulation so prives cab remain regulated. If you take away regulation they will collude to maintain high prices to prop up oil prices. They reason being is the high capital to labor value of the oil industry means profit rates would fall without high prices.

When hearing “a Nobel Prize winner” actually meant something to me

@dennisbedard9850

Жыл бұрын

Bingo! Every time i see the words "Nobel Prize" next to Paul Krugman's name, I wince.

@nash984954

Жыл бұрын

Why would it, Nobel's guilt over creating explosives that killed humans in droves.

Unbelievable to see so many people are actually interested in a real economic argument, And not one of them shouted ‘NAZI”.

@Sheridantank

3 жыл бұрын

That's partially because there wasnt a million channels to fill. If it was on TV, it has to be justified. Now there's so much BS on TV you "have to" carry on to get views.

@Durwood2k

3 жыл бұрын

Quiet you Nazi.

@lucaschneider1613

3 жыл бұрын

@Monotech2.0 Can you image how the world would look had we enacted those policies 30-40 years ago? All it really requires is for politicians to let go of power they don’t deserve in the first place, and hell if some backwards dictator can do it, why can’t we?

@lucaschneider1613

3 жыл бұрын

@Monotech2.0 throwing people from aircraft was Argentina. Idk maybe it was in Chile too but i’d say you’re looking at a South America problem, not a Friedman problem. I mean tell me if I’m wrong but the coup leader pinochio or something asked for help with the economy RIGHT? So then logically the coup was before a free market, RIGHT? So then there already was a problem of a dictator, RIGHT? Again I wanna reiterate Chile is run by mexican wanna be Nazis so, the economy did fine, brilliant even. What more can you really expect, RIGHT? Friedman made a point of it, a free market is core to a free society. Doesn’t mean a dictator can’t coincide with a free market, RIGHT? The sarcastic “RIGHT” is much appreciated. It is often called the best form of comedy, by everyone, RUGHT?

@lucaschneider1613

3 жыл бұрын

@Monotech2.0 I also want to add social security is a way of control, not liberation.

We really need another Milton Friedman today.

@toaojackson7447

9 жыл бұрын

We got David...

@bobkay9278

9 жыл бұрын

Indeed, We need another Milton like fellow to pull down this pair of pants that is left for us and give it to the rich. You know, Rich are so suffering now these days; we need another Milton to give them a hand. But don't despair, we've got Sheldon; he'll deliver us from evil. The rich actually can come and sodomize us at will, by grace of Jesus, soon, if only Sheldon acts!

@toaojackson7447

9 жыл бұрын

Bob Kay ???

@toaojackson7447

9 жыл бұрын

***** They are, I just the Milton's son was the obvious choice. Thomas Sowell is also a great one.

@toaojackson7447

9 жыл бұрын

***** I didn't mean to sound as though I was crediting him entirely because of his lineage, I apologize. I credit him because he is an excellent economist and philosopher, I mentioned him because he is also related to Milton.

There’s no better primer for students of economics than watching these interviews of Friedman.

@kimobrien.

6 ай бұрын

No all he does is point to simple outcomes because anyone can point at a so called simple outcome of competition driving down prices. When you have only a few companies in a market collusion takes place in price fixing one way or another either directly or through government regulation. Same with his lectures on tariffs in the end the bosses chose tariffs to fight for the home market share against competition. Capital becomes more and more combined and labor becomes more and more generalised such that the price tends towards just the social minimum to get the workers back for the next pay period. The bosses become more and more petti with their discipline and more and more demanding of more production in their profit seeking goals.

@kenthhamner2641

5 ай бұрын

@@kimobrien.No he explains things in simple ways so people can follow. The man won a Nobel,prize back when you had to actually accomplish something. And your hammer and sickle icon makes me think you are already indoctrinated into a dumb ideology.

@richarddevlin5613

5 ай бұрын

@@kimobrien.I think you are confusing a simple answer with someone who makes it sound simple. Your observations seem to be all based around greed, now that’s quite a simple statement to make

@kimobrien.

5 ай бұрын

@@richarddevlin5613 The source of profits is the exploitation of the working class. The greed of the bosses for profits drive the capitalist system. You won't here Friedman talk about the source of the profit because to do so one would have to explain how it arises since it denies any simple explanation other than the part of the value created by the labor that is the source of all value that is not a natural resource to begin with. As John locke wrote Labor transforms nature. So if one is to have a material view of nature it can't arise from exchange or probability. Since exchange can not occur without a labor cost and the same is true of gambling or value seemingly increasing by increased risk.

@richarddevlin5613

5 ай бұрын

@@kimobrien. Are you saying that if someone doesn’t succeed it’s simply because they weren’t greedy enough ? Or they didn’t exploit enough ? I could become so greedy that I wanted a fortune twice the size of Bill Gates but this greed would not increase my income by anything

Every time Donahue thinks he has a gotcha, Friedman’s response produces a deafening silence. This is great TV, wish it was still here

@savage810

Ай бұрын

In fairness, Donahue was certainly a lefty but he's also playing Devil's Advocate. They could do this honestly back then.

"The government should not help to save Chrysler." Timeless. Same script just different companies.

@pstearns6164

3 жыл бұрын

I was a late comer to educating myself but always used the Dodge Aries K car as an example. Every governmental agency bought them because it was mandated. They all died within a few years because Chrysler was not motivated to meet the quality of other producers. In the military we had those early Ram trucks that were garbage too. They should have been allowed to fail so more efficient companies could have bought their capital equipment and made better decisions and products.

@zenyattamondatta7757

3 жыл бұрын

@@pstearns6164 There is always fraud, waste and abuse when the government is involved. That's what happens when all you do is spend other people's money. The government is too big. We could do without 90% of it.

@zenyattamondatta7757

3 жыл бұрын

@Monotech2.0 Spoken like a government employee. Name-calling diminishes your credibility and hints that you lack an actual argument. Are you sitting at home right now, getting paid to do nothing during the "pandemic" on the government payroll? I would have to find some evidence of your assertions re: Greenspan and re: free markets before I could agree or disagree. Either way, Friedman's policies don't change my opinion about the government. I was in the military. I have seen how some people treat "other people's money." The Navy has a program to report "fraud, waste and abuse" for a reason, and the problem is government-wide.

@kevsamuelsdiedwafathookeri2254

3 жыл бұрын

@Monotech2.0 The '08 crash was caused because of "feel-good" liberal/Leftist social engineering/"economic equality" -legislation lifting restrictions on lenders extending mortgages to people who had little to no verified income and in some cases, no way to verify them at all; other than a foreign drivers license. The portion of the securities market that backed those loans(after they had been shuffled around), amplifying their risk, is what let to the dominoes falling and successive crash. We know this because the hardest hit markets nationally in the housing crash, were in L.A., San Bernardino, Kern, Kings, San Joaquin, Alameda, and Contra Costa. All of those areas have high populations of illegals, who had no business buying homes they would likely default on, prior to '08. Here's an idea~ How about only *legal* citizens of the U.S. be eligible to buy property/homes, use the domestic banking system and collect govt benefits funded by taxpayers? In Mexico, no American or non-Mexican is allowed to own property. They only pay the note and "own" the structure sitting on it, not the land. And the Mexican govt can seize the land anytime they want. But see, those types of "Fascist" policies, would undercut the ability of pandering Leftist pols to wave golden tickets inciting mass illegal immigration to "hard-working" immigrants, so they can lock in a permanent voting bloc, to implement their prosperity, constructive demographics and liberty-killing agenda. You're worried about *all* the wrong things.

@kevsamuelsdiedwafathookeri2254

3 жыл бұрын

@Monotech2.0 If you didn't know that the Democrats in Congress/Senate(regardless of majority/minority), were the architects of the "housing for all" legislative policies that led to non-citizens with no verifiable income being sold $200-900k homes throughout the U.S(but particularly in CA/AZ/NV/NM for 10 years prior to the '08 crash, then you really shouldn't even be offering opinions on it. I get it though, you want to cape for more Leftism and socialism at every turn, regardless of its disasterous results it's yielded globally for the last 100 years. Carry on.

I'm nearly 40 and I am shocked that this level of discussion was ever on network TV. Absolutely astounding.

@InsideOutsider81

Жыл бұрын

I hear ya. I'm 41, and it looks like people were far more respectful, and well-spoken back then. Today everyone would be trying to talk over one another

@dennisbedard9850

Жыл бұрын

@@InsideOutsider81 I am 65 and remember watching Firing Line every Sunday with WFB, On the left there were Tom Snyder and David Susskind. The political magazines of the era such as The Nation, The New Republic, Commentary, and National Review to name just a few were erudite and respectful while zinging rhetorical barbs. Hysteria has replaced reason as the chief commodity of our discourse

@connievino4226

Жыл бұрын

I get you.

@disf5178

Жыл бұрын

I'm almost 50 and I remember these days.. news was boring. And these entertainment "talk shows" were actually intellectual and focused on getting people to discuss and think. Then when I was about 12, Springer and Geraldo showed up.

My favorite moment is when Milton carefully explains that the only vehicle for lifting large numbers of people out of dire poverty has been the free enterprise system. Then Phil complains that it isn’t virtuous enough. It’s nearly 50 years later, and the same argument is being made.

@thespadestable

Жыл бұрын

@STL 1234 - And it's one of the gifts of KZread. Those who desire to put in the work and is willing to listen, will come to realize today's problems and complaints have existed going back generations. Millennials have been indoctrinated to feel they are the ones who created the wheel.

@marshalmcdonald7476

11 ай бұрын

@@thespadestable Right on Jack. Good point.

@dannysullivan3951

10 ай бұрын

Welcome to politics 101. Capitalism and socialism are two sides of the same coin, can’t have one without the other.

@hotelcalifornia715

10 ай бұрын

All this "Milton" talks and dang! we have Biden in the Whitehouse.

@Eddie_of_the_A_Is_A_Gang

9 ай бұрын

@@dannysullivan3951 Da fuck kinda retardation is that? It would be like saying that you can't look right without looking left. No clearly you can look right without looking left and not being able to do one without the other is an oxymoron. It's a contradiction. In fact, you cannot have capitalism, free market outside of government control and have government control within the economy. One is obligatorily an infraction on the other.

It’s amazing to me just how civil this discussion was between two individuals and an audience with clearly differing views. I believe we will never see anything like this on TV again.

@ThirstySwimmer

Жыл бұрын

I agree. How sad it is that honest discussion can't be had on any main stream news these days. We should have Thomas Sowell on all of the networks just as a test. Let the networks try to censor him!

@peterherard8207

Жыл бұрын

It's one of things that made America great.....unfortunately this and many of the common courtesies from that time have gone WOKE

@auklin7079

Жыл бұрын

idk some of the socialists in the audience were just as vindictive and sneering as they are today.

@douglasthompson9482

Жыл бұрын

Our society is horribly pathetic. Solid values and debates were relevant in my earlier years. Your comment is very accurate. We live in very sad times, especially socially. I pray for my grand children. That being said, does anyone pray any longer.

@sidhu139

Жыл бұрын

@newbudget4343 I don't believe so. We probably will, but I reckon it will take a couple of thousand years for us to evolve to that stage again.

One of the best things I love about Milton is that he can tell you politely, you have no clue and to pound salt and he does it all with a a smile.

@MagicTaco27

4 жыл бұрын

Definitely one of his best traits

@jaywilley955

4 жыл бұрын

Isn’t it pound sand?

@michaelericksonmusic

2 жыл бұрын

Yeah. And he's been proven wrong. "Biggie" has devoured "Smalley" every step of the way.

@Mark_Cook

Жыл бұрын

@@michaelericksonmusic Actually no, if you really read and understand what he says you will find out that he doesn’t make claims one way or another about whether “biggie” should be eating “smalley” or vice versa. In fact he repeatedly says that if the large companies keep managing the company in a way that keeps quality high and prices low then there is no reason to really oppose such a company’s monopoly. The problem of course is that large companies are very rarely able to do this for extended periods of time, and eventually the small companies will eat up their market share. However all of this is only possible in a system that abides by one of Friedman’s key tenets. “A system must not have excessive regulations.” Good grief he talks about it at length in this very interview. If you have excessive regulations, then the only companies able to afford to meet them and have the infrastructure in place to even attempt to understand all of them, will be the large established bloated companies. Its no coincidence that the less regulated the industry, the more competitive it is and the more consumer friendly the market is. Yet it’s amusing to see the first solution to any industry with monopoly problems/not competitive enough is to pile on more regulations, which merely exasperates the problem.

@michaelericksonmusic

Жыл бұрын

@@Mark_Cook Perhaps I should read more of his thinking. I was simply commenting on his "biggie/smalley" comment in this video.

Jeez they were talking about bailing out Chrysler even back then? Nothing has changed.

@andyb2260

8 жыл бұрын

+James Whyte In the late 70s the US Government guaranteed loans to Chrysler(this is is in spite of the loans Chrysler went bankrupt the US taxpayer would be on the hook for those loans). Thankfully Chrysler invented the mini-van and their sales boomed and they were able to pay off the loans by the mid 1980s.

@jameswhyte1340

8 жыл бұрын

Maurice Bachand So the plan was Chrysler was going to take out a loan which WE the us citizens would have to pay back? I still don't see how any of this stuff is constitutional. How is our government allowed to decide stuff like this? we have no say, why are they even doing this for private corporation? they should take care of themselves. Is that basically what the bailout was all about? are we still on the hook for those? Excuse the ignorance just haven't kept up with politics.

@TheDHEL13

8 жыл бұрын

Yup, nothing is new. I wonder which company in the future would threaten the government with riot and anarchy when they don't receive bailout?

@beaconterraoneonline

8 жыл бұрын

Yep ... proving once again, and always ... our elected officials are idiots and are focused on the wrong things.

@scottm8579

6 жыл бұрын

It's all bribes... err uh.. .emm ... lobbying that gets government to do what Chrysler wanted.

PBD anyone?

@davidsonfils-aime6876

2 ай бұрын

Yup got here straight from pbd 😂

@YKHerbyDerby

2 ай бұрын

Same

@user-jb8wj5jv1v

2 ай бұрын

Yup

@selbyetibek6903

Ай бұрын

Yes sir!😂

@alexo5190

Ай бұрын

Yes, I saw it there and came here

Imagine a world where a TV host can engage with somebody they disagree with while still being not only civil but friendly.

Friedman destroys ignorance while being so nice about it!

@911neverforget3

4 жыл бұрын

ActuarialNinja absolutely

@maskedmarvyl4774

4 жыл бұрын

Friedman spread knowing dishonesty. That's the opposite of destroying ignorance. There was nothing nice about him. He took pleasure in selling people arguments that he knew would hurt them if they were dumb enough to accept them. That was what he derived his enjoyment from.

@GodwynDi

4 жыл бұрын

@@maskedmarvyl4774 Name a single thing he said here that is dishonest or untrue?

@maskedmarvyl4774

4 жыл бұрын

@@GodwynDi , name a single time you thought for yourself, my simple friend. Why would I waste my time giving examples of Friedman's dishonesty to a troll from Russia who couldn't care less anyway? Is this really how you want to waste your one life, my simple sad friend? Trolling on a KZread comment board to earn a cheap bottle of vodka? Please do something better with your life than this......

@GodwynDi

4 жыл бұрын

@@maskedmarvyl4774 I even went and looked up criticisms and responses to Friedman. I could not find anything convincing. Lots of popular articles claiming he was wrong, but nothing substantial.

"I think sincerity is a much overrated virtue."

@rokyericksonroks

7 жыл бұрын

Aslan "Have you ever met Ralph Nader?"

@SirGalaEd

4 жыл бұрын

Should be said to SJW!

@greymanBB

3 жыл бұрын

What he mean, obviously, is that sincerity of intentions to “doing good” with neither knowledge nor competence in the subject in question is useless and counter-productive. In such cases, it might have been better to just leave things alone , out of the destructive hands of the “sincere” do-gooder.

@paulstoker47

3 жыл бұрын

greymanBB exactly! It is much more important to be reasonable, to be a true professional. Sincerity won’t help without knowledge. Friedman already compared Hitler and Mussolini in one of his lectures when he was talking about “sincere, committed people”. Hitler was really committed and did a great deal of harm.... and Mussolini was a hypocrite, that’s why he wasn’t that dangerous.

@stevewynn8689

3 жыл бұрын

SteppenWolff100- Drivel ? Well... I suppose compared to your superior intellect, anything a dummy like Friedman said would seem inane.... Jackass

"We don't have a desperate need to grow, we have a desire to grow" right in Phil's face, Ka-boom!

My God, imagine an intelligent conversation like this being on Kimmel or any TV today?

@mdo5121

Ай бұрын

😂never going to happen and that is more than sad

The man, the legend. To be fair to Donahue, that is some next level interviewing; the way it was meant to be.

@jaywilley955

4 жыл бұрын

geir pedersen Agreed. Donahue was as good as anyone I’ve ever seen.

@sullimd

4 жыл бұрын

The genius is not only Milton, obviously, but also Donahue knew exactly what he was doing. The devils advocate questions were just that, and they both knew it.

@dparsons1225

4 жыл бұрын

@@jaywilley955 its called Trump

@jaywilley955

4 жыл бұрын

D parsons 3 words that make no sense in this context. Forever in your debt.

@maskedmarvyl4774

4 жыл бұрын

@@sullimd , Yes, asking what is so bad about social safety nets that prevent people from dying, is being "the devil's advocate". I think you've assigned the wrong advocate to the wrong person.

What an amazing interview. Where would you find such a calm, intellectually challenging discussion in mass media these days?

@gebrazer

6 жыл бұрын

Frank Ch. Eigler Whoopie would have been screaming racist saying you just want to get away with paying poor black folk less than minimum wage.

@Tierneil

5 жыл бұрын

thankfully it has improved.

@tomastorrens7972

5 жыл бұрын

Oprah wiped out Donahue by doing a Jerry Springer style show. Then after he was gone she 'sobered up' and made more 'tasteful' programmes, though far from intellectual or ideologically balanced

@esling77

5 жыл бұрын

I agree. I also see a lots of the same issues then as now.

@tinapatton7346

5 жыл бұрын

Sneering anti social Rightard FREEdman same MAFIA Bank$ter as GREEDspan!! Both part of the CRIMINAL U$/UK '08 ongoing sub-prime debts World CRASH losing TRILLIONS while trashing MILLIONS of jobs and LIVES!

Love this clip. Milton is in his element, Donohue is trying to score points but can’t get close. All done with mutual respect and good spirits. We need more of this.

@nevillelongbottom7687

Жыл бұрын

I think Donovan is just the true moderator, playing the devil's advocate :)

@HipsterDoofus100

Жыл бұрын

Friedman toys with him like a cat does with a mouse

@connievino4226

Жыл бұрын

Who is Donovan?

@nevillelongbottom7687

Жыл бұрын

@@connievino4226 The moderater?

@connievino4226

Жыл бұрын

@@nevillelongbottom7687 I know that's Phil Donahue. I did not see a moderator. Thanks.

It is impossible in modern times for an intelligent discussion like this to occur

@somenygaard

3 жыл бұрын

So true. I grew up watching Phil Donahue and disliked him quite a bit but boy would I welcome him back today.

@poom641

3 жыл бұрын

Most modern people end up yelling and interrupting too much, and back then many of us thought Donahue was very obnoxious. Which he was, but not quite as much as so many are today

@msbecks7004

3 жыл бұрын

Only on telly. We could have one here

@somenygaard

3 жыл бұрын

@@poom641 exactly. He was so annoying at the time now looking back he just seems fairly reasonable but misguided often just playing “devil’s advocate”.

@mossbogger8366

3 жыл бұрын

uh no its not. they happen all the time...maybe its impossible to get anyone to listen, but even there that's not true either...

5-foot-tall Friedman was effectively tomahawk dunking on Donahue throughout the whole conversation

@maskedmarvyl4774

Жыл бұрын

Uh..... sure, ma'am. Donahue simply couldn't believe the callous cynicism he was hearing from this mean spirited little man. You have very low standards for heroes, in more ways than one.

@paulsbunions8441

Ай бұрын

​@@maskedmarvyl4774ad hominem, try debunking Friedman's points instead of his character if you want people to take you seriously

Both Phil and Milton keeping a smile on their face and a restraint on their tone while expressing opposite views. That is NOT seen today.

My favorite Friedman quote of all time: "Most people are usually wrong."

@maskedmarvyl4774

3 жыл бұрын

Of course, he excludes himself from that comment. Funny how it works out that way.

@marcustulliuscicero.5856

3 жыл бұрын

@@maskedmarvyl4774 when has he said he's always right?

@maskedmarvyl4774

3 жыл бұрын

@@marcustulliuscicero.5856 , He's never admitted he's wrong. He resorted to sarcasm or snarkiness when confronted about his dishonest statements, and when older, actually said "I'm out of patience with you!", when someone even mildly challenged his statements.

@marcustulliuscicero.5856

3 жыл бұрын

@@maskedmarvyl4774 what has he been wrong about?

@alexis1156

2 жыл бұрын

@@marcustulliuscicero.5856 No answer, because he isn't wrong. There is a certain thing called dunning krueger, most people who are confident are uninformed, but some people who are confident are so because they ARE informed.

Milton has been the only adult in the room for decades.

Milton is so smooth and unmoved, what a man.

@rsaunable

5 жыл бұрын

Agree! He's a whole man!

@95garyl

4 жыл бұрын

Johnathan Doe exactly right. He does let emotions rule his arguments.

@Glenintheden

4 жыл бұрын

Sure, he is a master of sophistry. Being smooth doesn't equal being right. And Milton Friedman is very wrong and many issues.

@95garyl

4 жыл бұрын

Glen Wallace where is he wrong?

@Glenintheden

4 жыл бұрын

@@95garyl , I believe he is wrong on being able to rely on manufacturers to consistently provide safeguards against hazardous products. Some businesses will make safe products, but without government regulation, others will try to save a buck and make an unsafe product. And I believe the general public wants the government to use regulations to proactively protect the consumer from harm in the first place rather use Friedman's method of merely using their choice as a consumer, after being harmed, to stop shopping from a business that makes unsafe products. Friedman also conveniently 'forgets' about the 3rd party involved in cars known as passengers that had nothing to do with the original choice to purchase a car without government mandated safety features.

"Can Sears buy Kmart?" Phil Donahue 1979 "The way Kmart has been growing, . . . can Kmart buy Sears" Milton wins again! Kmart bought Sears ten years ago in 2005.

@bluecollarguy67

5 жыл бұрын

And because of how mismanaged both companies are and because of how behind the curve they were in responding to the change to online shopping and delivery, both companies are total shit and should be pushed over the edge once and for all. This teetering act has gone on for too long. Sell off whatever has value and let the rest just die off.

@rsaunable

5 жыл бұрын

@@bluecollarguy67 OR, they could change and perhaps find a better business model and become the New Apple.

@jeanrenetournecuillert2449

5 жыл бұрын

@@bluecollarguy67 Easy to say in retrospect.

@fedupwithfed4047

5 жыл бұрын

And they are both about out of business now!

@jcpark7242

4 жыл бұрын

Update in 2020... 😢

Friedman could disarm anyone with his gentle wit and ever-present smile. He may have been the greatest economist in history.

@GodOfVictory501

2 жыл бұрын

"He may have been the greatest economist in history" MF was great but let's not go nuts.

@williedonnelly4512

2 жыл бұрын

@@GodOfVictory501 yes true, Adam Smith as he spoke about is one of the greatest, modern economist is martin armstrong however historically the greatest is our lord Jesus christ 🙏

@jrutt2675

2 жыл бұрын

@@williedonnelly4512 Hjalmar Schacht was perhaps the most successful economist in human history. What he did with Germany after the second banking crisis of Germany in the early 1930's; was the most remarkable turn around in history!

@williedonnelly4512

2 жыл бұрын

@@jrutt2675 maybe however it did not work out well for the citizens as a whole going forward after that 👍

@jrutt2675

2 жыл бұрын

@@williedonnelly4512 True. That is because of a multitude of reasons. But Schacht knew the one universal truth, that labor is the real capital behind wealth creation. In fact farmers have to be outside their minds to sell their farms. In a few years when the world economic system has collapsed, farmers will finally get their day in the sun. They will have the ability to control the markets. The only problem in the U.S. today the level of independence farmers has greatly decreased. Many farmers today are under governmental programs. Basically working the land for the government. Ezra Pound did a great job explaining some of this in his book secrets of the Federal Reserve! Big Banks in the 1920's stole farms under the false pretense of collective bargaining. Heck, they even murderd farmers in the western states, using federal Marshall's to do so. Regardless, there is only one man who will save us all in the end! These people laugh at him, but they will not be laughing for long! All governments will fail. Only a world monarchy with the king of Zion will the final government!

I am amazed at the relevance of each of these questions and talking points to today's problems. This show happened roughly forty years ago, and yet if it weren't for the hairstyles and how polite everyone is, you'd think they were talking about the current economy.

@usx06240

Жыл бұрын

I'm amazed that people applauded. There is now way Friedman's views would be interviewed today let alone half of the audience agree. In 2016, 95% of journalists who met reportable political donation minimums donated to Democrats. Over 90% of Yale faculty identify as liberal. Not healthy.

i enjoy watching Milton Friedman so much

@bazookademolition2664

7 жыл бұрын

the best !!!!!!! so smart - so articulate - so relaxed - i beg your pardon lol

@lucusinfabula

7 жыл бұрын

hospitals are expensive. Airbags avoid or limit hospital stays.

@bazookademolition2664

7 жыл бұрын

Luca Siciliano not sure what you mean

@lucusinfabula

7 жыл бұрын

THE PHANTOM MF speaks against mandatory installation of airbags. His contention is that additional safety for those in the vehicle should be an optional. From minute 3:40, in less than half a minute, it will be clear. I stopped watching shortly thereafter. Shall I watch the rest of the interview?

@bazookademolition2664

7 жыл бұрын

- His CONTENTION is so government doesnt take over our lives - answer is no but you should take the video and pound it up your liberal ass

Listening to this in 2020. This post is an intellectual oasis whether you’re left, right or center.

@barryweiss9977

3 жыл бұрын

Wish the whole country would watch

@seanleith5312

2 жыл бұрын

Ralph Nader, Al Gore, and all liberal politicians, they are all the same. Virtual signaling to the finest, totally disregard the facts. As to sincerity, they are all for too things: political reward and money.

@evenkeeler

2 жыл бұрын

Could not agree more. These are the discussions not allowed in today’s subjective and lunatic times

@NotAnEconomist

2 жыл бұрын

@@evenkeeler This type of content is soon to be taken down by "fact checkers" or "truth censors"

@jamiejay7633

2 жыл бұрын

The Left didn't like this logic then and it doesn't like it now.

Brilliant. We should all listen up and when you finish listening to Friedman, move on to Thomas Sowell…another brilliant man.

What a man, what a brain. I am thankful for him and people like Thomas Sowell, I call these men honest intellectual unlike what we have today in universities. I also loved how top show would have men like him on, today all you get on top shows are celebrities.

@surreallife777

Жыл бұрын

He is an errand boy the right wing billionaires.

@sidhu139

Жыл бұрын

Oh come on man. Whoopi Goldberg isn't that far removed from Milton Friedman.

@uwaagbonlahor1040

Жыл бұрын

Top shows won't invite intellectuals like these folks. They invite only celebs because that's what the market wants.

@kimobrien.

8 ай бұрын

@@uwaagbonlahor1040 Just shows what nonsense he promoted before the crisis of 2008 hit. First thing that happened was the biggest banks and companies went hat in hand to Congress for their bailout. The conservative neoliberal Bush announce his plan to save the "free market" while intervening in the free market.

“Where do u find these these angels? I don’t even trust u to do that.” Absolutely brilliant!

@maskedmarvyl4774

3 жыл бұрын

What is brilliant about it? Being a callous and dishonest troll does not equal "brilliance". His exact quote was "who are these angels who are going to reorder society"? He managed to say two dishonest things in the same sentence. First of all, it doesn't require an angel to help other people. It just requires a basically decent person; which Friedman wasn't. Which is why he made that contemptuous statement. Secondly, it doesn't require "reordering society"; which Friedman also knew. President Johnson was no angel; and he would have been the first person to admit it. He was a rude, crude deal-maker. However, he managed to get Medicare passed, after Reagan recorded a speech saying that if Medicare were ever passed, it would mean the "end of freedom in America". Well, we're still free, and Medicare has saved millions of lives, including my mother's. It did not require an angel to pass it, nor did it require the reordering of society. Friedman by the way wanted to end Medicare, Social Security, all safety requirements for vehicles, and the minimum wage. I'm very sorry if you find that "brilliant".

@bradsicoli5346

3 жыл бұрын

@@maskedmarvyl4774 I’m sorry you feel that way. Friedman is observing that public sector solutions can be just as insidious as private sector solutions if not more so. He also brilliantly observed that mandating an attached dagger to a steering wheel would prevent more car accident deaths than mandating an air bag. The point is that people’s behavior is tied to their perceived risk. After air bags were mandated fatalities in car accidents went up, which seems to affirm his dagger observation. I think that privatized medicine produces better health care than public medicine systems like Medicare. Currently I am required to pay into medicare on top of my current health insurance premiums. I have no say in the use of those Medicare dollars. If that was a private account where I could control the growth of my Medicare contributions like an hsa then it would be much more effective. What if my life expectancy was less than 65 so I never get Medicare. Now I have to pay for something I will never get? This is a violation of our freedom as Friedman and Reagan observed. It does reorder our paychecks and it is bankrupting our country so, yes it is re-ordering society. Yes it’s good to help others and I think more people would be more altruistic (Friedman prefers saying eleemosynary) if such self sacrifice was not coerced by government. I don’t know your family’s experience exactly with Medicare but I do know that people tend to benefit more from a private sector system than from a public one, especially the poor. Also, Friedman recommended, as an economist, that a minimum wage laws hurts poor communities. If minimum wage is $15 then employers simply don’t hire someone who doesn’t have skills worth $15. If the job applicant does not have skills worth $15 then he simply never gets the opportunity and can’t develop his skills. With no minimum wage an individual can get a job very easily and have a chance to flourish into a very productive highly paid worker. Minimum wage laws hinder economic mobility. Many countries have done quite well economically, including this one, with no minimum wage. Friedman’s views on minimum wage are very popular among economists. You sir, are entitled to your opinion as I am to mine. I feel that Friedman was a courageous voice of reason that the world desperately needs today!

@pakelika100

3 жыл бұрын

@@maskedmarvyl4774 Politicians such as Lyndon Johnson are able to take advantage of the ignorance and economic illiteracy of the public by exploiting that ignorance for their own selfish purposes, like proposing what appears to be a solution to a problem in the form of a government program that will expand government bureaucracy and expense and contribute to inflation, and encourage dependence on government and politicians to provide solutions for problems that may be the result of the political choices of the politicians. Johnson made a career out of being a politician, and in the end left as his most memorable and lasting legacies the Vietnam war and the war on poverty. Neither was a success. If you would dig deeper into why Friedman didn't approve of social security, medicare, and the minimum wage, you would see the very sound basis upon which he based his objections. For example, have you ever considered that social security and medicare contribute to inflation? These entitlement programs have greatly increased the size of government and of government spending, thus contributing to inflation and the erosion of the buying power of the dollar. There is also the large amount of fraud that happens with these programs. Explaining how and why government causes problems that politicians opportunistically propose what ostensibly appear to be "solutions" is a subject that Milton Friedman and Thomas Sowell are very adept at. You are misguided in accusing Friedman of not being a decent person, based only on your personal opinion of his opposition to medicare, social security and the minimum wage. You base your opinion on those 3 things on the basis of what you perceive them to be, as they appear to be to many people who don't take the time and make the effort to truly understand what the details and realities are. As an economist utilizing a scientific approach and analysis, Friedman has examined these matters in a comprehensive and detailed manner, allowing the results to direct him to the conclusions he arrives at. Being a decent person is very much a subjective opinion. I might just as well accuse you of being an indecent person, merely on the basis of my perception of you accusing Friedman of not being a decent person. If you knew as much as Friedman did about minimum wage and how it originated, and what it does to inexperienced, unskilled people looking for work, or how social security confiscates money from people who could make better decisions about the use of their money- including making investments with a greater yield, or how deregulation of the medical industry and getting government out of the way of alternative approaches to achieving and maintaining good health would be a much better way of addressing health care than having another complex government bureaucracy called Medicare; then you might be less inclined to disagree with him, let alone accuse him of being something he is not. Politicians don't explain that what they frequently propose to do about a problem is not a solution, but a trade off of one problem for another. Nor are they forthcoming about explaining how sometimes they, or their predecessors created the problem.

@maskedmarvyl4774

3 жыл бұрын

@@pakelika100 , Medicare is run more efficiently than private insurance. That is a fact that corporate shills will never admit, even though it's been proven to be true. My mother is alive because of Medicare that she paid into her entire life. She would have died ten years ago without it. I worked in private insurance. You are speaking to the wrong person about the evils of government insurance compared to private insurance. Private insurance companies feel entitled to their customers' money, with no obligation to provide coverage. I used to listen to screaming matches between insurance managers about how they weren't going to get their yearly bonus, because one of their colleagues paid too many legitimate claims, instead of denying them. I myself couldn't get decent insurance, despite working for an insurance company. I could only get a lousy HMO plan, where I could not choose my physician, and got the worst of the worst doctors who were incompetent and burned out. I got no coverage for my diabetes, as it was a "preexisting condition". I developed permanent nerve damage and permanent loss of vision because of my diabetes. It was only because of the Affordable Care Act, that critics dubbed "Obamacare" that I finally received coverage for my diabetes. Otherwise, I would be dead now. I lived the life-and-death reality of the situation, both working in insurance and almost dying as a result of it; unlike yourself.

@pakelika100

3 жыл бұрын

@@maskedmarvyl4774 Inspite of all the abuse and fraud associated with Medicare, you claim that it is more efficiently administered than private insurance? You can say that, but the fact is that with all of its complexity, bureaucracy, abuse and fraud, and the fact that it is a contributing factor to inflation and the erosion of the purchasing power of a dollar, in addition to overburdening medical providers with regulations and documentation requirements, it is a poor substitute for the better alternatives that a truly free market can provide. You seem to think you know that Medicare is the reason for keeping people alive, but you may be deceived into believing that only the American medical industry has effective therapeutic treatment for pathological conditions, and that a free and much less regulated market is the cause of, and not the solution to, the high cost of sick care and health maintenance- which is nonsense! Your very limited personal experience and perspective on sick care does not even equate to Dr. Friedman's qualified, objective and much more informed analysis of Medicare, though your experience means so much to you. At the risk of seeming unkind, you judge the worthiness of a government mandate that takes every worker's property to sustain a large, complex bureaucracy and program riddled with waste, abuse, and fraud, that is so complex that people need a qualified professional to guide them in order to enroll in and select a plan with any sufficient knowledge of what is best for them, purely on the basis of your own personal experience and knowledge, limited as it is. A government that truly cared about you and everyone would get out of the way of alternative approaches and practitioners who can provide holistic and natural therapeutic solutions, and dramatically reduce regulatory requirements that overburden the medical industry and drive up its costs. Furthermore, how much does your choices and lifestyle effect your physiological condition? That's a question to consider, not an accusation. You may be surprised to learn that there are people who have no use for Medicare, Obamacare, or any government "solution" to sick care. They have discovered the benefits of heeding the advice and utilizing the services of people such as Dr. Bob Marshall and his Quantum Nutrition team and products, and Pharmacist Ben Fuchs. All pathological conditions are the result of nutritional deficiencies. But politicians, government, and the medical industry pay no attention to that. Instead, they offer you Medicare and Obamacare. Both are a legal way of robbing Peter in order to pay Paul. While it can benefit some, Obamacare has to require higher premiums and deductibles and unwanted coverage for others- which contradict what Obama represented the Affordable Care Act as being, in addition to other misrepresentations that "you can keep your plan, keep your doctor." Many have found a superior alternative in Medishare and other medical cost sharing arrangements for people who don't want either private insurance or, especially, a government program. Why should those people have to pay your medical costs? You may not know as much as you think you do, as evidenced by your wrong headed, misguided statement and personal attack on Milton Friedman. Without knowing anything about me, save for my comments, you would do well to not make any comparisons to your self. And calling Friedman a corporate shill calls into question whether you comprehend what Friedman has said or if you understand the definition of what a corporate shill is. Calling for very limited government and maximum individual liberty is not even remotely like being a corporate shill. Are you a government, socialist or Democrat party shill?

Where he tells the woman that it's his business and not hers when she asks what he's doing with his money.. priceless.

@ryanoreilly7015

3 жыл бұрын

@@fml5910 lol good oxymoron lol

@fml5910

3 жыл бұрын

@@ryanoreilly7015 Thank you kindly Sir lol.

Its truly astounding to see how relatively respectful this dialogue is. How things have changed.

It’s crazy to see how some shows 60 and 50 yrs ago would ask tough and interesting questions, let their audiences do the same, and then give the guest adequate time to answer without interruption. The only place nowadays where you can see something comparable are podcasts. It’s also great to see Donahue ask a question and then sit back and listen intently… instead of rummaging around papers or only focusing on the next question. He’s not trying to “get” Friedman or attempt to embarrass him with some “gotcha” moment… he’s having a conversation and asking questions he genuinely is curious about and being respectful the entire time. Great segment

Milton’s words are like a warm blanket of truth and common sense. I literally could (and sometimes do) listen all day.

@seanleith5312

2 жыл бұрын

You can tell from earlier days how the left treat people who they don't agree with. The host tried his best, throw all sort of questions at him. To anybody who is not Milton Friedman, would have been stuck on one of many questions. You can't be prepared on all of the question. If you answered 99 questions, and failed one, you have failed. Milton Friedman didn't give him one chance, he understood those people well.

@mrgerrytube

2 жыл бұрын

Baa baaa

@StephenPaulTroup

2 жыл бұрын

I often listen too. His interviews and speeches are more precious than an Economics degree from Boston University (where AOC got her Econ degree)

@mrgerrytube

2 жыл бұрын

@@StephenPaulTroup 🤢🤮

@michaelericksonmusic

2 жыл бұрын

Why? "Biggie has indeed eaten "Smally" every step of the way. Admit it. He was wrong.

The difference between this and today’s daytime television (The View) is night and day.

@brianjarvis313

Жыл бұрын

They are not even the same species…

Milton Friedman - absolute brilliance. Wish we could have him back.

I freaking love this guy, RIP Professor!

@maskedmarvyl4774

8 ай бұрын

Professor of bullshit? He advocated for the ending of requiring basic safety standards on vehicles, at the same time he was a highly paid "consultant" by automobile corporations, a subject he knew nothing about. No conflict of interest there. He argued against the existence of Medicare, Social Security, and the minimum wage, and said they should be ended. So if you freaking love him, you must freaking love that as well. And you should Never accept, or allow your family to accept, those things that he advocated ending, If you really love him. I'm sure you agree with that. Right?

@NotAnEconomist

6 ай бұрын

@@maskedmarvyl4774I do agree with ending welfare, social security, abolishment of minimum wage, and even having an option of a cheaper car with less regulations. If you know all this about Friedman, you should also hear this quote from him: “One of the great mistakes is to judge policies and programs by their intentions rather than their results.”

@maskedmarvyl4774

6 ай бұрын

@@NotAnEconomist , "An option of a cheaper car with less regulations". Good luck driving it. Just don't expect anyone to ride in it with you. It's easy for you to have your attitude about Social Security and Medicare, until you reach the age where it's the only thing keeping you alive. But then, no-one ever thinks they'll be in that position. Milton Friedman was a mean little troll, who thought All safety regulations of All products should be removed. That includes medical devices. Charming human being. Please find a better role model than this.

Amazing what use to be broadcast on American television. Can you imagine a show like this trying to air in modern society? it would die a quick death by ratings because intellectual integrity no longer matters in the media, eyeballs do

@Redmenace96

4 жыл бұрын

Oprah took his format and made it dumber. Sells better.

@LinkinPark4694

4 жыл бұрын

Ahh so true...

@scruples671

3 жыл бұрын

Now that the Corporations own the Media today that is why you dont see debates like this anymore. Greed... As for modern society I would say we are on the decline because of greed trying maintain its control grip.

@jameshampton7833

3 жыл бұрын

The owners of the five corporations that own 90% of the nation's media don't want the common man caring about important issues, or knowing the issues period. That's why the rich promote immorality and stupidity in culture. We can more easily be controlled and deceived by their bread and circuses while they set up a prison system around us.

@hlboerr

3 жыл бұрын

The modern media is KZread and this hour-long video has almost 1 million views

Milton’s ideas on school vouchers was way ahead of his time....wish he could see the success of that movement.

@publius5128

3 жыл бұрын

Teachers unions are waaaaaaaay too strong, and politicians are waaaaaaaay too bought and disingenuous.

@maskedmarvyl4774

2 жыл бұрын

What success are you talking about? School vouchers take money away from the poor for public schools, and give it to richer families to help subsidize their children's private schools that the poor can't afford. That's a very sad definition of success you have....

@06barcafan10

2 жыл бұрын

@@maskedmarvyl4774 Succes can be measured in parent satisfaction, higher test scores, school safety, etc….almost (not quite) all charter schools in poor neighborhoods that use vouchers are favorable towards that system. Simple really.

@drragequit919

2 жыл бұрын

@@maskedmarvyl4774 That is horrible propaganda used by the Teacher's unions, and even the NAACP, to control a monopoly on education. Public schools have failed to innovate and provide an acceptable education for many people. Therefore, you want to reward them by giving them a bailout. You are actively participating in corruption disguised as altruism.

@maskedmarvyl4774

2 жыл бұрын

@@06barcafan10 , Well, yes, I would imagine that a charter school Would be "favorable" to vouchers that would subsidize them, at the expense of the poor. You leave out the part where these vouchers siphon off money directly from public schools; as well a leave out the part that charter schools are profitable to the people who own them; and where does that profit come from? From the poorest that they take the money from. The new business model of America, that you favor. Dishonest much? Your last name wouldn't be De Vos, would it?

Milton is hitting home runs with every word....

@presence5426

5 ай бұрын

Dupe

Nice to see that someone knew how to work a VHS machine and properly record TV shows.

@will9317

Жыл бұрын

LoL Those damn things I just gave up and bought a video player. That way I wouldnt get angy when the recorder would record all screwed up

Mr. Friedman is truly a genius, people like Paul Krugman couldn't even tie Mr. Friedman's shoes.

@shirtjuggler

6 жыл бұрын

Drumboy5165 eve. if they were velcro.

@kingbyrd.1512

5 жыл бұрын

@@shirtjuggler lol

@michaelcap9550

4 жыл бұрын

Krugman owned by Soros.

@maskedmarvyl4774

4 жыл бұрын

Ivan, I doubt that you could even sharpen the pencils on your local troll farm. You have to be sober to perform simple manual skills. Stay drunk, my simple, sad friend; stay drunk.....

@cosmai23

4 жыл бұрын

Shoes made in China. Milton’s “free market” at work.

Phil gets his clock cleaned here but give him some credit for at least having a debate. Liberals these days want to shut down any debate or differing points of view.

@rokyericksonroks

7 жыл бұрын

drsevrin100 Exactly.

@happystance10able

5 жыл бұрын

This was also back when the Nobel Prize had actual value.

@bhuman111

5 жыл бұрын

Phil just seems to be playing devil's advocate to tease strong responses out of Milton. It worked great, we got some excellent insights out of Friedman, the last revolutionary economic prodigy.

@tedsmith9116

5 жыл бұрын

@@bhuman111 Agreed. Donahue was very good at playing the contrarian to his guests. He was an amazingly respectful interviewer especially compared to those who came after.

@tomastorrens7972

5 жыл бұрын

And he was so good humoured about it too. I think you're wrong though to make out liberals are the only fanatics. That statement itself is kinda fanatical

Great interview. Donahue does a great job of provoking and asking all kinds of interesting questions, and Friedman's answers are brilliant.

Milton Friedman as well as Thomas Sowell are inteligent men with an ability to make complex subjects understandable , amazing analysis of a situation. His explanation that minimum wage while being well meaning has led to many problems is incredible, what an intelect and mind.

2020, and still terribly relevant; perhaps moreso than ever.

@Marcoz588

4 жыл бұрын

Thanks KZread algorithm! ❤️👌

@larreye8451

3 жыл бұрын

Still would be curious about Friedmans opinion about the big tech companies nowadays.

@bobbyraejohnson

3 жыл бұрын

@@larreye8451 he would need somebody to tell him about section 230 though.

@gmarefan

3 жыл бұрын

We are feeling the pains of the bloat even moreso.

This is incredible. He foretells carbon credits and "price on particulates" that Phil cannot comprehend.

@shawncox98

8 жыл бұрын

+eddie telleed You are correct! Which baits the question, why do conservatives hate the idea of carbon credits now?

@andyb2260

8 жыл бұрын

+shawncox98 He also favored eliminating all government regulation on emission and safety standards which artificially inflate the price of a car.

@Ckamerad

8 жыл бұрын

+shawncox98 Dr friedman wouldn't be a modern concervative. He had no problem bashing either political party when they did things that didn't agree with his ideology. I don't agree with everything he advocated, yet today is not yesterday and I would be wrong to assume that he would be advocating the same views today. he believed in results rather than ideals. He was one of the great thinkers in his time.

@shawncox981tongus8

8 жыл бұрын

+eddie telleed If he believed what he was saying, he would be advocating the same things today as he did yesterday. Carbon credits and a price on particulates could indeed help introduce a market based approach to protecting the environment for the benefit of all. In other words, it would STILL likely lead to Friedman's desired result, were it embraced... My point is that the corporate plutocrats that rule today are not interested in results benefiting humanity. They are interested in results benefiting their positions of ever increasing wealth and power. Friedman's ideas would have to actually be implemented in order to work. Today's conservatives (and anarchist libertarians) may be able to SEE the genius of Friedman, but they've also been fooled by their corporate keepers into never letting his ideas ever REALLY have a chance. And in the rare case where a market-based Friedman idea actually IS implemented, conservatives are now trained / re-programmed to disdain their own supposed hero's very idea through simple re-branding - because of who it is that actually DOES the implementing (Obama). It is all so complicated and ironic, ennit? Humanity cannot benefit from Friedman's genius because those that supposedly venerate him the most don't realize they are being manipulated into fighting tooth and nail against every attempt to implement his ideas. It's rich, really. Pun intended.

@damonstahl7757

8 жыл бұрын

+shawncox98 #1TonGus you do realize that hes dead and this was filmed in 1979 right?

I always liked Donahue show. he was good at provoking but in an intelligent way. Friedman is brilliant. He has a way of communicating complex ideas in an easy practical manner

It's a joy to listen to Dr. Milton Friedman and Thomas Sowell

@kimobrien.

8 ай бұрын

Sure you do because they tell every boss what they want to hear about themselves and the capitalist system.

@tellaaalli

8 ай бұрын

@@kimobrien. of course commie, you got it.

@kimobrien.

8 ай бұрын

@@tellaaalliTurns out you will ignore all his supposed revisionist thinking about the 1929 stock market crisis when both parties went full steam ahead with government intervention after 2008. Afterall what elses could you do? Give the whole mess to federal bankruptcy judges to ponder over for the next ten years? Now your throwing away his theories about capitalism bringing Democracy in China and going ahead with trade barriers to protect your profits and world Empire. As you continue to though away bourgeois Democratic norms when it comes to Donald Trump.

I love these Donahue/Friedman interviews. Friedman was always at his best while responding in real-time to questions.

I have never been a Donahue fan, but he did a great job interviewing/moderating in this video. He let Milton finish his points and didn’t interrupt too much. Media people today should take some notes.

@tommym321

4 жыл бұрын

T Arkwright I like Donohue and Dick Cavett.

@nash984954

Жыл бұрын

Especially Nick know nothing at Reason mag

@sidhu139

Жыл бұрын

@tarkwright6511 I've seen many comments where people say they're not a fan of Donahue. What's his deal? Did he do something? I'm asking because I'm not American and I don't know.

@kevinbragg7273

Жыл бұрын

I agree 100 % I'm not a huge fan of Donahue himself. But is no dummy and gives a fair interview. This wouldn't happen on TV today.

It’s great to see an exercise of disagreeing without being disagreeable... it’s a lost art.

I keep listening to this Nobel laureate over and over again.The discussion has relevance even to date

Milton Friedman makes me realize how inept I am

Rest In Peace Doctor Milton Freeman.... Thank God we still have Thomas Sowell. It's just To bad that more younger people don't know who these Two Great Americans... And they should know about them....

@nash984954

Жыл бұрын

Also very sad that grammar is so slack spelling and tenses are so meaningless as well, but love experts who achieve nothing but think they can define success by Chile Pinochet.

@mikrjiuy7805

5 ай бұрын

​@@nash984954Resorting to insults while never saying what was incorrect. A true leftist

@danielmyers112

5 ай бұрын

Also Rest in Peace Phil Donahue. A great interviewer, and an honest liberal. What lefttard "journalist" today would give someone like Milton the time to give full answers. These long format shows are greatly missed.

i require my college fin and eoc students to listen to dr. friedman.

"Yes, there is 20,000 people at the Dept of Energy, ....all of them MAKING TROUBLE!" (@15:08)

the coolest guy ever ...well next to Thomas Sowell im learning!

@TXLionHeart

4 жыл бұрын

Milton Friedman was Thomas Sowell's mentor. Two of the greatest minds of our time!

@dillonsmith8554

3 жыл бұрын

Thomas Sowell and Friedman are whack jobs of the first degree. Sowell gets exposed on a single topic for being cataclysmically wrong: theruthlesscritic.com/thomas-sowells-myths-as-facts-part-1/

@bradleyjamesatchley5335

3 жыл бұрын

@@dillonsmith8554 i checked out your link and scanned it briefly, but stopped once I noticed dishonesty by the author. About myth #1, Sowell didn't claim that capitalism ensures inequality, he said it merely can happen. The response to his myth seems to twist what he said. Nevertheless, capitalism isn't perfect, but imo history easily shows that it is the best of all the imperfect systems. For the life of me I can't see how any intellectual honest person could argue against that.

@HoopsKing25

3 жыл бұрын

Tom woods is awesome as well.

@itcouldbelupus2842

3 жыл бұрын

Both of them are idiots.

Such a refined and mentally stable man. Something that's quite rare these days with Tv hosts and guests

@20:00" Can Kmart buy Sears?"lol Thats exactly what happened Kmart has bought Sears Milton was a prophet

@gmatsue84

5 жыл бұрын

Maybe they were watching o.O

@joseornelas1718

4 жыл бұрын

Where K Mart makes a living, I can make a killing ~ SAM WALTON

"What are you doing with your money? That is my business and not yours." That was awesome!!! Worth the whole show!!

People don't understand that Donahue knew how to ask questions as if he was on the other side of the fence and that's how he got the guests to give the best answers.

A fond memory of the '70's when I was working 3rd shift and still living at home. I was a fan of Milton Friedman and heard he was going to be on PDS. I did not want to stay up until noon to watch it so I taught my mother how to use a very primitive (but state of art) reel to reel tape recorder I had and record the audio through the microphone. My dad NEVER watched daytime TV, but he watched that and it began his journey into conservatism. I could have never convinced him myself. Our family is Catholic, but my devout mother laughed when I referred to him as Saint Milton!

@presence5426

5 ай бұрын

Dupes

I wish I had half the class that Milton Friedman does. How he keeps a smile and his cool in all his debates is beyond me.

@coffeehigh8624

3 жыл бұрын

Exactly, I might get frustrated and upset with the stupidity.

@michaelericksonmusic

2 жыл бұрын

Yeah. And "Biggie" has eaten "Smally" every step of the way. He was simply wrong on that.

@droe2570

2 жыл бұрын

@@michaelericksonmusic No he wasn't. Biggie has eaten Smally because the state has empowered them to do so. You left out that part. Take the covid scamdemic. The State lockdowns has destroyed over 100,000 small businesses, while increasing a handful of giant multi-national corporations. Various other regulations have worked to shut down smaller hospitals and doctor offices, while funneling the same number of patients to fewer large hospitals. The government has created healthcare shortages. So no, he was exactly right.

@michaelericksonmusic

2 жыл бұрын

@@droe2570 No sh**. Biggie includes the State. They're in bed together. I didn't know I needed to add details of the obvious.

@greatscott3470

Жыл бұрын

@@michaelericksonmusic He wasn't wrong. Because he _agreed_ with the idea of "Biggie" eating "Smallie" being true... when the government continually intervenes. When the government uses our money to bail out a poorly run company, they have a chance to get bigger and consume smaller companies. And that's a chance they wouldn't have if the government would've let them fail. Conglomerates gobbling up Mom-and-pops is a result of them gaming the government system. If the government let free enterprise alone, there would be no system to game.

There are two kinds of people: ones who understand Milton Friedman instantly and those who need time to come to their senses in order to realize that Friedman is correct.

@maskedmarvyl4774

3 жыл бұрын

There are two kinds of people: ones who categorize people into only two categories, and those who don't. That kind of black and white thinking is very limited. It keeps one from eventually seeing through the dishonest rhetoric of a corporate shill who made arguments on behalf of corporations, and not the people they take advantage of for their own profit....

@idiotproofdalek

3 жыл бұрын

@@maskedmarvyl4774 and you just missed the entire point of what Friedman says. Guess you must be in the second category still. Keep watching, you’ll get there eventually.

@maskedmarvyl4774

3 жыл бұрын

@@idiotproofdalek , it's possible for someone to get the point of what a dishonest cynical troll says, and to see through their dishonesty and reject it. You're not the sharpest Dalek in the horde, are you, my simple friend? You seem like you need a serious chip upgrade. Daleks aren't known for their perceptiveness or deepness of thought, just blind obedience and mastery of the word "EX-TER-MIN-ATE!!" Keep processing, my simple drone, you'll get there eventually....

@idiotproofdalek

3 жыл бұрын

@@maskedmarvyl4774 awww look you came back with exactly the same thing I said but with different words! Slowest child in the playground methinks!

@maskedmarvyl4774

3 жыл бұрын

@@idiotproofdalek , Dal, while you were busy attempting human trolling, Dr. Who snuck in and stole all your power crystals. Not a good Day of the Daleks, is it?

So glad I found this. The conversation is very open. Tough questions and very clear responses and explanations. Much appreciated.

Back in the day the interviewer didn't have an earpiece or autocue. Knowledge and truth always wins, good job Milton.

28:50 we don’t have a desperate need to grow, we have a desperately desire to grow, that is why this man is legendary

Milton Friedman is probably the smartest man I have ever heard.

Fascinated by the dialogue rather than enraged by ideology. That’s the mark of a true interviewer.

I've watched this 5 times, and am better for it because I can usually recall about 10 percent of it. Which is fantastic! Because Milton is 101.5 percent smarter than I ever will be.

I've never seen Donahue so out of his class. Friedman is a genius.

@512metro

7 жыл бұрын

It's really interesting though. While Donahue is a textbook progressive, and I don't agree with him politically whatsoever, can you imagine a modern talk-show host having a guest like Friedman on today? Having this sort of banter and discussion beyond your run-of-the-mill comedic interludes with some random actor? Watching these really gives me a respect for Phil I never had before, simply because he's willing to risk his own hubris to present an opposing viewpoint, from a man he'd probably readily admit is much smarter than himself. I cannot think of a single show that would have a person like Friedman on today, and I think we're worse off for it.

@LoveBandit1000

7 жыл бұрын

@512metro: EXACTLY! You took the words right out of my mouth. Sometime between this video and now, the Left got sick of losing debates like this one and decided to rig the game and silence and condemn any opposing viewpoints to theirs. Very sad and yet entirely predictable...

@anthonyoz6113

7 жыл бұрын

i agree to an extent but donahue tried but friedman is very respectful - he is witty but rarely condescending. he could easily be arrogant but is charming, likeable and witty.

@jasonsebring3983

7 жыл бұрын

For sure. Milton is a rare breed.

@DorianMariusGray

6 жыл бұрын

He had no idea how out of his league he was.

Phil "Well, you know, without regulations, etc ......" Milton: "The problem with claims like that is, they don't stand up to the facts"

@diegotobaski9801

4 жыл бұрын

Was true then, still is now

@diegotobaski9801

3 жыл бұрын

@@tiborzkarate1 Regulations LED TO the 2008 crash. That along with stupid cronyism. The stupidity of the government to think they can force banks to loan to low credit scorer and not have any possible repercussions for starters, along with a bloated Fed reserve(basically a govt enforced monopoly). This critique of the 2008 crash needs to die out please.

@diegotobaski9801

3 жыл бұрын

@@tiborzkarate1 Incentives mean jack when the government MANDATES that your loan to a specific of people that you aren't guaranteed to get back from. Plus, the insurance of the previous bailouts that the government had granted to these banks(cronyism, an enemy of free markets), was all the assurance that they needed to take as ridiculous a risk as they possibly could

@diegotobaski9801

3 жыл бұрын

@@tiborzkarate1 Great. Like every big government advocate ever, Outsider: This is how government regulation ruins the free market BGA: You see what I'm saying? This is exactly why capitalism is bad.

@maskedmarvyl4774

Жыл бұрын

What a brilliant, in-depth analysis.

At 10:25 I love how he can’t hold back a chuckle as he says that “old cars are less safe than new cars.” It’s just so damn obvious but you don’t realize it until Uncle Milton pulls your ideological glasses off for you.

we need modern shows like this

"Even though we're appalled at gasoline, which is $1.00 a gallon" ... oh my.

@Pattern51lover

4 жыл бұрын

Conservatism Is Calling my mom remembers when gas got to $0.25 a gallon and her dad flipped his shit 😂

@novuscomputers

4 жыл бұрын

@Vincent Cuttolo Fun fact: According to the US Bureau of Labor Statistics, $1 in 1979 (when this was taped iirc), has the same buying power as $3.78 today. Obviously gas prices vary throughout the country but, right now, I can drive up the street to the local station and fill up for $2.19/gallon. So gas is actually "cheaper" now than it was back then and you can really see why people then were freaked out about inflation.

@venuss2000

4 жыл бұрын

@Vincent Cuttolo that's cute, in CA it's over $1.00 *more* here. Fml. I hate Commifornia😤😤😤

@SirGalaEd

4 жыл бұрын

I remember 30 cent a gallon gas

4 жыл бұрын

I can remember how horrified we all were back when gasoline first hit $1 per gallon. We all thought the world was going to end. I can actually remember 1979 when it was 35 cents a gallon and I would fuel up my big V8 Cadillac which got 9 miles per gallon.

Love how Friedman predicted correctly how Much oil we could produce in this country of deregulated.

@nicktravascio8337

4 жыл бұрын

Absolutely. When I heard that comment I thought how amazing because in the 70’s through 90’s we were beholden to the Saudis. In the 2000’s I remember Bush saying we had 200+ years of natural gas if we’d just tap into it to be energy independent. Milton Friedmanwaa spot on as today we are a net exporter again. Trump has pushed to deregulate and the economy is prospering. So simple yet the liberals fight it tooth and nail.

@timthetiny7538

Жыл бұрын

@@nicktravascio8337 as a petroleum geologist, Trump didn't do shit. We imported 40% of our oil demand under Trump

@SopranoPizzaJMFNJ

Жыл бұрын

The Permian Basin & Bakken Formation are largely US properties and they have an abundance of natural gas & oil.

I studied economics and Milton Friedman is a genius.

@kimobrien.

8 ай бұрын

Sure and how did the genius' at the banks and CEO's end up after the crisis of 2008. They got bailed out while we got sold out.

@RaineriHakkarainen

6 ай бұрын

Milton Friedman favourite country was Chile! Chile tried this free economy and now Chile is only 58th richest country in the world!

Phil got his clock cleaned in this interview but he didn't go crazy.

How refreshing to hear people discuss in front of live audience without being interupted by applause every few seconds.

How interesting that Phil brings up Sears buying Kmart and Milton comments that it could be Kmart buying Sears and that it actually happend 30 years later.

I was a kid during this time period and I remember TV having an ASMR quality to it. These two are passionate, respectful and well-spoken. No flashy graphics, hyped up music, escalation of emotions or rapid swapping camera angles. Also during this time period: the Lexus LS becomes the king of luxury sedans without the help or hinder of US government and Toyota finds a way to import the Land Cruiser under the guise of the Lexus LX badge.

“The question is can K-Mart buy sears?” Now amazon can buy them both without even taking a loan out

@Sp1n1985

2 жыл бұрын

Kmart did buy sears and now both are dead

@rajyavardhansingh4491

2 жыл бұрын

@@Sp1n1985 Amazon:- "Allow me to introduce myself."

@Sp1n1985

2 жыл бұрын

@@rajyavardhansingh4491 the sears catalog was Amazon before Amazon they just didn't adapt fast enough

36:20, damn this man brought me to tears. What genius. What knowledge. Im sobbing like a baby. Praying, Wishing men like this still existed.

@publius5128

3 жыл бұрын

They do. Thomas Sowell is still alive. They're just ignored utterly.

@cameronyoung6716

3 жыл бұрын

They definitely are still here. Thomas Sowell, Walter Williams, Jordan Peterson, Dinesh D'souza, Johnathan Haidt, Malcolm Gladwell, Charlie Munger, Peter Thiel, Dave Chappelle. There are many greats in the making. 50 years ago nobody knew who Dave Chappelle even was. Don't lose hope. Genius still abides. There are hundreds that I didn't mention, I'm just saying what comes off the top of my head. Point is, there are good people in the world.

Help me I'm trapped in a Milton Friedman video binge

@brianjarvis313

Жыл бұрын

You are NOT alone!!!

I remember this interview as a kid. The government bailed out Chrysler. At the time Ford, GM and Chrysler were making crappy cars. Companies like Honda and Toyota moved in with cheep reliable cars. They began building better cars and the big three had to step up their game. It was competition that has brought us the quality cars we have today. Ironically, Sears is gone. However, had Sears been smart they would be Amazon today.

It is amazing to think there used to be a time when the audience was expected to quietly sit and :ISTEN and not boo, jeer or consider themselves the speaker when they clearly are not. It is sad to think it is nearly impossible to replicate this type of dialogue in front of an audience without people getting antsy and wanting to be part of the speaker even though no one came to hear them. I also love that this is about a thoughtful conversation and not a lot of symbolic platitudes being thrown around for constant applause breaks and zingers.

not one teleprompter

@keithwilson6060

3 жыл бұрын

The teleprompter is the screen of his mind.

Friedman is just too good. His third party philosophy solves a lot of problems that libertarian anarchist philosophies face, namely that voluntary action does have repercussions that impede upon the freedom of others. I have reserves about Rothbardian philosophy, but I'm all in for Friedman.

@bernlin2000

7 жыл бұрын

Rothbard, in the end, was partisan in his way of thinking: he was anti-authoritarian to a fault (and mean FAULT), to the point where he was disparaging Keynes out of spite more than any intellectual disagreement (i.e. the fact that Keynes ideas flourished immensely after WWII, which directly opposed Anarcho-Capitalist philosophy)

@02nf2i

3 жыл бұрын

The economic concept he’s talking about is that of “externalities.”

@nash984954

Жыл бұрын

Damn, we now know what your problem is.

So timeless

Not only did Kmart end up buying Sears, but both would in the end go bankrupt and be replaced by Walmart, Target, Amazon, etc…. 40 years later we know how truly intelligent Friedman was because of how many times he has been proven right.

@kimobrien.

8 ай бұрын

To bad he died before seeing the failure of neoliberalism with the crisis of 2008.

@cxa340

8 ай бұрын

@@kimobrien. The 2008 crisis wa not the failure of neoliberalism it was the failure of corporatism and government interventionism. By requiring banks to make bad loans to home buyers who could not qualify based solely on the race, ethnicity, or location of the home the government set up the housing market to fail - this was compounded by Fannie and Freddie, both government corporations, that agreed to underwrite any and all loans regardless of credit worthiness which compounded the fault of bad loans being made to bad borrowers. The entire 2008 crisis could have been avoided had the market and banks been allowed to work as normal, without government intervention, where they shoulder the risk and reward and could have been empowered to deny loans to the many unqualified borrowers who were taking out unconventional loans they could not afford

@kimobrien.

8 ай бұрын

@@cxa340 Sure it's always the capitalist bosses NOT following or the taking the proper prescriptions that Friedman promotes. They don't work as normal because once capitalism archives primitive accumulation it begins to decline. The bosses kept blowing up the value of fictitious capital until it collapsed. They first did this in the Dutch Tulip crisis and have done it at least every seven to ten years. With the end of WW2 Friedman went to a meeting where Von Misses welcomed all the Veterans of the wars of the 19th Century. That was and still is your basic problem you can't stay out of wars caused by world market competition between capitalist governmental powers. The capitalist are greedy and based in nation states and can't stay out of wars caused by combined and uneven development. They could no more avoid the crisis of 2008 than the 1929 crash.

@kimobrien.

8 ай бұрын

@@cxa340 According to neoliberal theory markets are self correcting and Bush should have done nothing but sit on his hands. Apparently when the bosses make errors they just rush for a bailout instead of following the pied piers of neoliberalism like Sowell and Friedman. I guess we should have all waited while federal bankruptcy judges pondered the meaning of all the paperwork.

I watched a fair amount of Donahue as a kid. I never saw him squirm like he did in this airing.

@trenauldo

4 жыл бұрын

Yes, I always found PD to be a bit on the aggressive side in his dealings with guests, but Dr. Friedman remained largely calm and of pleasant demeanor while not budging an inch from his positions. That's rare behavior in this day's discourse, if you can call it that.

It's funny that this episode is almost 40 years old and Donahue is banging the same old drum. All the impoverished, disparity, inequality in the world - sounds like an Obama speech. What's the same in the equation? Government.

@Flabernat

7 жыл бұрын

Very much agreed, I thought the same thing when watching this.

@bowler3329

5 жыл бұрын

And those of us that lived through this era are truly tired of the Lefts same old recycled bs.

@Swervee9

5 жыл бұрын

Such a good comment, Ben!

@hella_cool1312

5 жыл бұрын

Those damn lefties and their *shuffles cards* consistent policies!

@trenauldo

4 жыл бұрын

@@hella_cool1312 If we're being honest here, conservative politicians have had their opportunities as well to right the ship, and they've failed just as spectacularly. For example, why is a republican-led senate approving bills that increase the government's borrowing limit when what it should be doing is reining in federal spending? There is blame enough on BOTH sides of the aisle for things being the way they are today, and this country's government is more often than not at the center of the creation of more problems than it solves. If I may quote Tomas Sowell, "Government is not the personification of the national interest. They have their own interests." We voting citizens of the US would be wise to remember that.