In the video above, Milton Friedman explains why he is “pro free enterprise” but not “pro-business.”
7 thoughts on “Video: Milton Friedman explains the difference between being “pro free enterprise” and “pro business””
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That’s Charles Brown, not Milton Friedman.
Fixed now, good Friedman bit – thanks.
I agree with Milton Friedman! Government should be concerned with creating a level playing field to encourage competition. Capitalism ONLY works if there is competition. Prevent consumers having a real choice is pro-business and anti-comsumer.
Since all governments are corrupt (to some extent) big government frequently acts as a stooge for big business by preventing or limiting real competition by regulatory means. Or granting patent protection.
David: “I agree with Milton Friedman! Government should be concerned with creating a level playing field to encourage competition.”
Perhaps government should be concerned with just staying out of the way so free enterprise can flourish. A level playing field sounds like one in which voluntary parties do business as they see a benefit to doing so, without outside interference.
ron-
have you read this:
http://www.tnellen.com/cybereng/harrison.html
perhaps the best (and a very short) story about equality and level playing fields i have ever read.
i suspect you will enjoy it.
Morganovich
Yes, thanks for the link. I read it in my teens as science fiction, and only later reread it and realized its true meaning. It IS the best story I’ve ever read about equality and leveling the playing field.
Similarly, I read Orwell’s 1984 as a teen, considering it science fiction, then read it again later to find it was an entirely different story.
Speaking of short pieces, I really like this little story by Gene Callahan. You may already be familiar with it. I generally cite it for those who complain about the US losing jobs to automation or offshoring.
Dr. Friedman could be talking about today’s government policy of venture socialism…