Milton Friedman on Crony Capitalism, Public Choice, and the Need to Look Beyond Stated Intentions

by Don Boudreaux on May 20, 2014

in Adam Smith, Competition, Crony Capitalism, History, Reality Is Not Optional, Regulation, Video

In this early 1980s discussion with Phil Donahue (no, not the famous clip in which he riffs on Donahue’s naive worry that self-interest is anti-social), Milton Friedman explains vitally important economic insights with revealing examples from history.