The Practical Philosopher's Blog

Using the practical application of timeless wisdom to address modern issues

A 2-Minute Primer on Free Enterprise

Why is capitalism good? Why is it the main-stay of our American ideal of free enterprise?

Below is a brief, but eloquent explanation by Milton Friedman of this wise and prosperity-building concept on YouTube.  Hear his great responses to the slanted questions of Phil Donahue:

YouTube: Milton Friedman – in Defense of Capitalism


Filed under: Economy, Philosophy, , , , , , , , , , , ,

4 Responses

  1. ggw_bach says:

    basically … it unlocks the creative potential inherent in all human beings. A system which allows for more efficient solutions to flourish … that can only be good.

  2. Philosopher says:

    You are right. It just appears a majority of people in the US lack the wisdom to understand the longer term ways these American principles work. It looks like they will have to experience the failures of collectivism first-hand before they will understand them.

  3. I love Milton Friedman.

    Capitalism succeeds for the reason above, that individuals are free to toil as they please to produce wealth sufficient to transact with others.

    Everyone involved in a capitalist system tends to benefit.

  4. Philosopher says:

    I couldn’t agree more. Now we each need to go and convince 10 other people of this objective truth.

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