Like fish in a barrel. Milton Friedman vs. Donahue's anti-capitalism. Lessons for today's America.

This is from 30 years ago, yet Milton Friedman nails almost every major issue we're facing today with our bloated, arrogant, steamroller-style government. This part focuses on Greed and Capitalism, and is simply beautiful. Gordon Gecko in real life, with a much bigger brain. He asks, "Is there some society you know that doesn't run on greed? Do you think the USSR doesn't run on greed? Do you think China doesn't run on greed?" He gets profound and golden around at 1:44 when Donahue decries Capitalism because "it seems to reward not virtue as much as the ability to manipulate the system." Friedman responds,

"What does reward virtue? Do you think the Soviet Commissars reward virtue? Did Hitler? Do American Presidents reward virtue? Do they choose their appointees on the basis of the virtue of the people appointed or on the basis of their political clout? Is it really true that political self-interest is nobler, somehow, than economic self-interest? You know, I think you're taking a lot of things for granted. And just tell me where in the world do you find these angels who are going to organize society for us? I don't even trust you to do that."

In the full interview (now divided into 5 parts on youtube), which I highly recommend viewing, he hits on the Federal government saving Chrysler and GM, pollution controls, etc. He explains how the failure of the Federal Reserve system was what caused the Great Depression, not capitalism. At one point Donahue says, "Let's make you a Csar". If only that were possible!

Anyone who wonders how to talk to liberals and challenge their short-sighted, low-minded B.S. should watch how Milton Friedman talks to Donahue (who's quite liberal). He kindly shoots him down left and right with his Nobel-Prize-Winning logic. It's simply beautiful.

For example, at one point (9:40 in part 2), Donahue gets hyper about how capitalism only leads to monopolies, and asks Friedman if he'd allow Sears to buy K-mart, and if he really thinks the Justice Department should stay out of such things, Friedman says, "the most effective Anti Trust measure you could take in this country would be complete free trade."