Dr. Milton Friedman Argues for No Licensure of MDs to a Group of MDs at the Mayo Clinic in 1978
Speaking to a group of medical professionals at the Mayo Clinic in 1978, economist Milton Friedman argues for "no licensure of physicians," because that would help to "reduce and elmininate the monopoloy power of the Amercian Medical Association. That monopoly power is derived almost entirely from the fact that the practice of medicine is an activity which can be engaged in by only those who have licenses from government. And the control over that licensure procedure is what has enabled the AMA to exercise its monopoly power for these many decades."
In addition to being an excellent economist, Milton Friedman was a brave and fearless man.