Milton Friedman on Limited Government

With the recent passing of Milton Friedman, there has been a lot of information springing up about him. I found this video on (direct link to video here) and thought I should try and get the word out as much as possible. If you’re at all interested in it, believe me you won’t be disappointed. If you don’t have time to watch it. You can read some excerpts I typed up from it below. Enjoy!

Richard D. Heffner: “You’ve said that the objectives of the people who have created social security programs, the people who want to provide for the aged, who want to provide for the poor who want to achieve objectives that have been identified with minimum wage and social security. That the objectives were valid; and you shared them. Now, if you share them, how would you have achieved those objectives?”

Mr. Friedman: “The only way you can achieve them”

Richard D. Heffner: “How?”

Mr. Friedman: “In my opinion, which is by voluntery cooperative action. You see I think there’s been one underlying basic fallacy in this whole set of social security and welfare measures. And that is the fallacy, this is at the bottom of it, the fallacy that it is pheasable and possible to do good with other peoples money. Now you see that view, has two flaws. If I’m gonna do good with other peoples money I first have to take it away from them. That means that the welfare state philosophy of doing good with other peoples money at it’s very bottom, is a philosophy of violence and cohercion. It’s against freedom. Because I have to use force, to get the money. In the second place; very few people spend other peoples money as carefully as they spend their own.”

Mr. Friedman: “…it assumes some how that government is a way in which you put unselfish and ungreedy men in charge of selfish and greedy men, but government is an institution, whereby the people who have the greatest drive to get power over their fellow men get into a position of controlling them.”