Capitalism and the Free Lunch Myth

In light of the socialism-oriented messages emanating from some of the Occupy Wall Street protestors, I felt it a great opportunity to share the following.  This video is one of my favorites concerning the subject of conceptual economics and captures the essence of free market principles.

Phil Donahue Interview with Dr. Milton Friedman – 1979.

Further, Dr. Friedman debunks the Free Lunch Myth before an academic audience.

Dr. Friedman at the University of Chicago (unknown date).

For those unfamiliar with Dr. Friedman, he was a Nobel Laureate in Economics and an oft apologist for capitalism and its positive effects on the societies that have embraced it.  For more information concerning the late economist, please see this autobiography published by the official website of the Nobel Prize.

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