Classic video time here with economist Milton Friedman. What follows is a 4-minute video snippet taken from the Phil Donahue show in which Milton Friedman answers a question about what rich people do with all those profits they earn. Also, his discussion of the failures of government to provide a good education are especially interesting in addressing the issue of the minimum wage.
What do you think of Friedman’s argument? Did anything specifically stand out to you in particular?