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Friedman on greed

01/05/2008

In keeping with the Milton Friedman posts here at FreedomTalks, I thought I'd post this fascinating video.

It's Uncle Milty on Donahue back in the 1970s defending capitalism. More importantly, however, he stands up for the concept which Adam Smith identified so eloquently in An Inquiry into the Nature and Causes of the Wealth of Nations- individuals pursuing their personal interests. This concept, unfortunately, has come to be known as "greed" by the Left.

Friedman dashes this pejorative meaning to the term.