Wednesday, January 24, 2007

John Stossel on Milton Friedman Day

John Stossel writes in his column today about Milton Friedman Day.

Friedman's 1980 10-part PBS series "Free to Choose" is available for free
online now here, as well as the updated 1990 5-part series.


At 1/24/2007 8:33 PM, Anonymous Anonymous said...

I went to your suggested link, “online now here”. I watched Arnold Schwarzenegger talk about how he met Milton Friedman in Palm Springs and how important ‘Freedom of Choice’ is. But I must live in a box, because I just listened to Friedman’s description of how there’s not a single person in the world who can make a pencil. I like how he makes it easy for me to listen to him. I feel like I am listening to a story being told and I can’t wait to get to the end. He speaks without lecturing, and I got what he was trying to tell. I never thought of all the coordinated work that goes into assembling the final product of the pencil. As Friedman said, “thousands of people cooperated and came together to make this pencil, tree, wood, saw, steel, graphite, rubber ferrite… many different countries of people coming together.” Friedman continued, “When you go down and buy this pencil you give a few minutes your time for a few seconds of time all those thousands of people.” Friedman asked, “What induced this cooperation?” he asked, “the magic of the price system and the market trading. The magic of the price system, the impersonal operation of prices, that brought them together to cooperate.” Friedman finalized by stating, “The operation of the free market is essential to promote productive efficiency, and most importantly foster harmony and peace among the peoples of the world”. :)


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