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November 12, 2013

Milton Friedman talks about the rich and profits

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?

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