5 myths that conceal reality by Milton Friedman

A great speech below:

Here are the myths:Robber Baron Myth, The Cause of Great Depression Myth, The Demand for Government Service Myth, The Free Lunch Smith, and The Robin Hood Myth.

1) the Robber Baron Myth, 2) the Great Depression Myth, 3) the Demand for Government Service Myth, 4) the Free Lunch Myth, and 5) the Robin Hood Myth.  – See more at: http://mjperry.blogspot.com/2012/09/classic-milton-friedman-video-from-1977.html#sthash.dDqboqYg.dpuf
In this classic video from 1977, Milton Friedman delivers a 52-minute lecture at Utah State University titled “Myths That Conceal Reality” including: 1) the Robber Baron Myth, 2) the Great Depression Myth, 3) the Demand for Government Service Myth, 4) the Free Lunch Myth, and 5) the Robin Hood Myth.  – See more at: http://mjperry.blogspot.com/2012/09/classic-milton-friedman-video-from-1977.html#sthash.dDqboqYg.dpuf
In this classic video from 1977, Milton Friedman delivers a 52-minute lecture at Utah State University titled “Myths That Conceal Reality” including: 1) the Robber Baron Myth, 2) the Great Depression Myth, 3) the Demand for Government Service Myth, 4) the Free Lunch Myth, and 5) the Robin Hood Myth.  – See more at: http://mjperry.blogspot.com/2012/09/classic-milton-friedman-video-from-1977.html#sthash.dDqboqYg.dpuf

Sunday Reader: Milton Friedman’s “Five Myths That Conceal Reality”

 

Milton Friedman is one of the most influential thinkers of the last 100 years.  He stood in opposition to The Loud Left, but then a lot of people did.  His opinions alone are not what made him great.  What made him potent and unique is that he was a great teacher.  He spoke with a clarity and substance than exposed the rhetoric of The Left for the shallow, muddled logic it truly is.

I had the pleasure of hearing Milton speak at a university where I was lecturing.  He took on all comers after his talk, and the braver (or more suicidal) of the faculty challenged him.  In his gentle way he eviscerated every one of them; reduced them to silence, lost in the clutter and tangle of their socialist contradictions.

This YouTube below is long; almost an hour.  In the age of Twitter and IM and the hieroglyphs of text messages, of short attention spans and shorter tempers and bumper sticker politics, perhaps long, thoughtful statements of philosophy have no place anymore.  OTOH, if you’ve never heard Milton speak at length, you have been deprived of exposure to one of the great thinkers and teachers, a deprivation this YouTube will correct.

Spend a few minutes here, with Milton.  Especially if you get your daily news and political wisdom from those deep economic thinkers John Stewart and Stephen Colbert on Comedy Central, you literally need Milton more than you know.  Obama’s rhetorical nonsense and Joe Biden’s mental lapses, the entirety of Keynesian dogma, will never sound the same to you again.

Milton begins:  “As you are all aware, there has been a drastic shift in public attitudes public opinion in the past fifty years or so, with respect to the role of the individual on the one hand and the role of government and collective institutions on the other.”

“There has been a shift in the philosophy and attitudes of the public from a belief in individual responsibility, from a belief in a society in which the role of government was as an umpire, to a belief in a society in which the emphasis is on social responsibility and the role of government as Big Brother and protector of the individual. As always when such shifts arise in public opinion, they are largely produced and reinforced by the development of myths about prior experience.”

“Somebody wrote that a myth is like an air mattress: there’s nothing in it, but it’s wonderfully comfortable, and deflation causes an uncomfortable jolt. My purpose today is to give you that jolt.”

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