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Brooks Wilson's Economics Blog: Friedman, Donahue and Greed

Friday, February 6, 2009

Friedman, Donahue and Greed

I heard this old exchange between Milton Friedman and Phil Donahue on greed and capitalism on the Mark Levin Radio Show. Critics of the capitalism, like Donahue, criticize it for being based on greed without recognizing or at least acknowledging that greed exists in all cultures. The question is how best to organize society to make greed productive and non-harmful, and Friedman claims that capitalism does it best. It is very clear that Friedman won this exchange.

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