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Milton Friedman On Income Differences

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In this short clip from the 1980 PBS seriesĀ Free To Choose, Milton Friedman explains one reason why observed differences in incomes do not necessarily reflect unfairness or poor public policies – and why such differences reflect efforts that benefit us all.

Speaking of income differences, Bob Murphy reminds us of an important point that is typically ignored [2]. (Be sure, when at Bob’s post, also to click on his link to his earlier essay.)