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December 10, 2010

Greed & Phil Donahue’s 1979 Interview of Milton Friedman

In 1979, Nobel Prize in Economics winner Milton Friedman (1912-2006) was interviewed by Phil Donahue. A brief portion of this interview is contained in the above video. In less than 2 and one half minutes Friedman demolishes the argument that capitalism is based on greed. According to Friedman, capitalism, or the free enterprise system, is not based on greed but on “individuals pursuing their self-interests.” Milton Friedman is the author of Capitalism and Freedom.

 

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