Wednesday, April 22, 2009

So what's the record without capitalism?

Here is an interesting video of Milton Friedman discussing greed and self-interest. Very apropos considering the recent trends in nationalizing businesses (something the US used to harp on other countries doing because it artificially manipulated the market), and the changing sentiments like this poll, which show that only a slight majority of American adults believe capitalism is better than socialism.

Asked whether capitalism or socialism is a better system, 53% of American adults cited capitalism, 20% said socialism and 27% said they weren't sure.


So if capitalism is so inherently evil, what kind of system will encourage people to innovate, create, invest, excel, specialize in a way that creates an efficient exchange of goods and ideas? Any takers? Who are these people who could divvy up resources without the human ills of greed and pride?


Brynne said...

Interesting read. That is scary.

Brynne said...

p.s. I love your last point. Exactly.