Milton Friedman Schools Young Idealist - 2 (Stanford) 

Trigglypuff!

Heaven forbid he had to work hard or come up with a successful idea to be wealthy. He is entitled damn it, so let him enter the wealthy club immediately.

The government should mandate that you shared more of that experience with the rest of us.

You may want to look up the history of the 1960s and 70s in the American university. I don’t know about numbers but the communists/socialists of those days were way more extreme than the soft punks we have today. The problem we have today is a direct line from the 60s and 70s.

The eternal truth in academia is that gems -- free thinkers and people who will happily challenge the views of the majority -- are always found in a steaming pile of dog shit who resent the gem.

..and even more the quality of students.

joe shmo Yeah... only somewhat though...

wish we could bring him back from the other world.

Gross understatement

Except that the amount of cronyism has gone up much and the free market ideals relegated to theory.

True. But it's not a coincidence that the leftist ideas of yesterday, however politely and intelligently argued, ultimately resulted in the leftist behaviors of today. Because at root leftism has always been an intolerance of human nature and natural law in general.

Really? In Poland hopefully this would not happened, as for now... Because we can see that Poland is also going this way :/

Replace SJWs with conservative cry baby beeches. They suck arse.

I didn’t even know that leftists could argue with points and thought and reason. I am wrong looking at these Milton videos. Leftists used to do it.

Capitalism, the ability to move up (or down) from one class (income) to another. Collectivism, the ability for *all* to be moored in the same slavery class for a lifetime.

That won't stop him from probably becoming a teacher and passing his idiotic ideology on to his students.

@@fredpearson5204 In Canada a large percentage of university professors in Humanities identify as Marxists, so you are exactly correct except that it is already happening. STEM and trade school instructors and professors are almost always free market capitalists, who understand the value of work, and individual initiative. Equality of opportunity is a good thing, but equality of outcome dictated by the state, is always bad.

​@@briggsquantum - There are 3 stages of equality: Equality before the law, equality of opportunity, equality of outcome. The more you move from equality before the law towards equality of outcome, the more state power (intervention, action, etc) is necessary. And equality of opportunity means everybody has to endure the same terrible government curricula, some level of socialism and quite some level of taxation. Equality of outcome means based on collective, statistical results, the starting points and circumstances of groups is micro-managed. Equality before the law means people including politicians, bureaucrats, academia and other state officials don't just get away with some level of unethical behavior and corruption all the time. Pick one and abandon the rest. Or pick a compromise between two, give up half of both and abandon the third.

I actually don’t see him as smug. He’s a young man who’s been fed socialist lies and respectfully asked a question based on what he’s been told. Who’s to say he didn’t learn from this encounter with this great economist in the same way that many of us learn from watching old videos with him?

I've had many of those moments, it's a great opportunity to become a better person.

betaomega04 SO THATS LIE

leandrro Alright, Troll. Prove me wrong.

betaomega04 thats a 1996's very distorted statistic, it includes all the pension funds and the price of your house to call you a milionaire, when in fact youre low middle class if you have a pension fund worth 700k + 250k house + 50k are you a milionaire ? technically yes, but can you eat at a nice restaurant at least once a week? no , can you drive a luxury car, wear luxury goods of any kind? no, you are only a milionaire because your father had 600k (pension + house) in the 70s and your grampa had 100k in the 40s, and inflation just made you overtake the 1 million barrier, you are in fact a low middle class with 30k annual income, far far away from the "millionaire" definition you want to make, please go lick rich people's balls somewere else

leandro b Actually, the statistic I'm using was published by the CATO Institute in 2011. At no point did I try to "[define]" what a millionaire is. But since you don't actually know what a millionaire is, I'll use some basic accounting terms to explain why you have no idea what the hell you're talking about. The title of "millionaire" is defined by your net worth. Your net worth is determined by your assets minus liabilities, and it has almost nothing to do with your income or your ability to buy stuff. Your income is simply the means by which you accumulate wealth. If you have a higher income, the rate at which you can accumulate wealth increases significantly, and vice versa. If your assets, less liabilities, exceeds $1,000,000, then you are classified as a millionaire. If your net worth exceeds $2,000,000, you are classified a multi-millionaire. It is possible for someone with a modest income to invest intelligently and eventually have enough liquid and real assets to give them a net worth of over one million dollars. It really is that simple. Pension funds, like 401k and Roth IRA, are considered assets, however they are not considered liquid assets until you reach the qualifying retirement age. The equity in your home is contingent on the balance of your mortgage. If you still have a mortgage, then you technically do not wholly own your home because you do not have the deed, and therefore would not count towards your net worth even though you will have accumulated equity. Once the home is paid off, it would count as a real asset. Moreover, I can clearly see that coveting has taken you very far in life. LLAP.

betaomega04 do you always spend time saying obvious things? you tried to make a point in defense of the rich saying that 80% are first genegration, meaning that the rich or the 1% are good people that have earned their wealth by merit and not inherit it your point in defense of the rich is completely false because your definition of milionarie includes mostly low midle class people.

😂😂😂

lol....... It's him!

lol! love it. Internet gold.

you killed me ^^

beakt 😂😂😂✌🏼✌🏼✌🏼

Yea, I was wondering how much mobility his parent saw since they were his age. I am guessing that anecdote alone should sort him out, if he could realize it.

> I am guessing that anecdote alone should sort him out, if he could realize it. No. It actually legitimizes his point. His parents most likely grew up in the 50s and 60s. That was a time when marginal tax rates went well above 70%. Friedman was an advocate for the policies that stunted mobility given that mobility went down starting in the 80's.

Yep

@@aa888zz marginal tax rates went above 70%..... for the very wealthy. Average Joe's family didn't pay that. I can never understand the schmucks that get bamboozled by the far left. Always advocating for a powerful central government that confiscates a considerable chunk of someone's income...... only to squander it on big, bloated government programs that fail miserably nearly every time. Could someone point out a socialist "success" story? One that didn't murder vast swaths of it's own (and quite often other's) population and/or didn't turn away from socialism? Oh, that's right, there aren't any...... except those that are still struggling like Venezuela.

Modified from Ben Franklin's statement regarding liberty and security. But still good. Friedman was awesome.

4 Years late but I think you meant that A and B shall decide what C shall do for D. Except that they take a bit of a comission off on the way.

Thank you Milton Friedman for the statement of A society that aims for Equality before Liberty will end up with neither! .. sounds like the society of Karl Marx and Frederick Engels or Mao of China, Stalins USSR aka Russia and the Fanatical N. Korea. Castro Cuba or Venezuela. Failures in equality. Failures in Liberty. Failures in freedom of speech

@@michaelangeloright704 And the EU 5/10 years from now. America is blessed with Trump.

@@michaelangeloright704 But.. but... but... "that was not REAL communism....! Because REAL communism is good!"

Yeah so did Hitler

He's probably living in California running a pot farm while his son attends college rallies holding "F-Trump" signs.

Living in Mom's basement, beating off to The View

So did all tyrants in history.

Neah...once you get out into the working world, you learn to resent all those you are working so hard to support. He's probably a capitalist by now. God, how I hate the ambulance that everyday visits my neighbors (who don't work).

Looks a lot.like John Kerry actually.

I'm still smiling over your initial question. Love it!

Keep watching

+Chumlee ThePrankCaller what do you expect? The guy is a typical young-naive albeit idealistic socialist. They just can NOT comprehend how the real world & human nature actually work

BiL Zenovic said a lefty communist

+Chumlee ThePrankCaller the kid was visibly very nervous so that definitely added to the fragility of his argument

watch Cenk U. from TYT. he has never won one. he gets stuffed even harder.

Stevan Shipp Yes, indeed!

Tom,I said the same exact thing....the guy in the red,is hilarious@

Tom Swinford That guy is a jerk. They would've kicked him out except he's a legacy admission.

@@rokyericksonroks not really. It's just hard to listen to someone while you can't understand their point easily

This was so long ago. Both guys are in their 60s now. The guy in the red jacket is likely a doctor or some other productive person. The young idealist is probably a college professor encouraging students to block roads in the name of "equality"

the amazing trait about friedman is that he never destroys people with a condescending attitude. he seems always calm and confident in his knowledge.

dekubaner That is the best part. I would be honoured to get mentally destroyed by this guy.

No, I doubt that kid shit himself; I think perhaps he did experience nausea, in realizing that toads like Friedman existed, who would cynically make any argument, including ones they know are dishonest. Friedman was a sellout who received millions from corporations to make phony arguments defending them; particularly car makers making deadly vehicles. How does this make him a "boss" of anything?

The kid was simply regurgitating age old Marxist propaganda that some envious bitter old professor spoon fed him. He was to stupid to ever realize he was in over his head. He left there a hero in his own mind.

pfffft comparing Milo to Milton, is comparing a mountain to a lightweight

I like Milo but get real, Milton had an intelligence that is no where to be seen in politics/economics today

I love Milo but it is an insult to Frieddman to compare the two

ever heard of the 60's

if milo wasn't drug addled, was a serious academic instead of a troll, and had an extra 30 or so IQ points.

Except that the revolutionaries don't think like that!

The sense of Entitlement(s) is born out of laziness, greed, envy and a good dose of cowardice. Self professed progressives just will not accept the honest reality of life. That is that one is only entitled to the fruits of his own labor. If they want "more" out of life then they must set personal goals, get off their lazy rumps, and muster the courage to invest sweat, talent, treasure in pursuit of those goals.

Yeah.. including the "Building en engine of chaos" thing...

John Smith friedman has little understanding of how socialism enhances and protects from capitalism while having great knowlege of free markets

He has little understnding of how socialism enhances and protects from capitslism i.e denmark. But great knowledge of free markets

John Smith you just noticed ? What's even more genius us he can talk to ppl who don't know economics. Einstein can't explain physics to me

​@@lloydallgood5608 DENMARK IS NOT SOCIALIST!!! Neither are any other Scandinavian countries. Not even close. Please tell me what industries they have nationalized? They have extremely high taxes and a huge welfare state, but other than that they actually rate pretty highly on most measures of economic liberty. When you hold up Scandinavian countries as models of economic success, you argue IN FAVOR of the merits of Capitalism.

Unfortunately we are looking at a lot of current socialists because these people were filmed in three decades ago and are now professors, politicians and such.

Bruce Armstrong Nah. When I was his age I thought I knew everything too. Some people grow out of their immaturity, some don’t. Sometimes depends on how much weed you smoke.

lol