Milton Friedman Teaches Phil Donahue


Here’s a classic smash from Milton Friedman on the Phil Donahue show. Donahue is left speechless by Friedman’s response to his questions about the free market system. Yes, Friedman, in many aspects, went wrong in his career, but this clip shows Friedman as the brilliant and tough teacher as he takes Donahue to the woodshed. Particularly striking is his comment to Donahue’s question about “greed”: “Is it really true that political self-interest is nobler somehow than economic self-interest?”

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