Milton Friedman talks about the rich and profits

Classic video time here with economist Milton Friedman. What follows is a 4-minute video snippet taken from the Phil Donahue show in which Milton Friedman answers a question about what rich people do with all those profits they earn. Also, his discussion of the failures of government to provide a good education are especially interesting in addressing the issue of the minimum wage.

What do you think of Friedman’s argument? Did anything specifically stand out to you in particular?

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.