Bad ideas blown away by Milton Friedman 19

A young idealist has a formula for ending poverty and achieving economic equality: 100% inheritance tax ¬†and redistribution of wealth by government. He thinks – as the Left does – that there is a fixed quantity of wealth in the world – “the capital” he calls it . (Why can’t or won’t the Left understand that wealth is created?)

Milton Friedman explains how the formula would destroy a society.

And here he talks – inter alia – about the importance of limiting government power to preserve the freedom of the individual.

Posted under Commentary, Economics, education, Socialism, Videos by Jillian Becker on Saturday, November 23, 2013

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