Series from 1980
The original series from the 1980's with Milton Friedman.
America's freedom and prosperity derive from the combination of the idea of human liberty with the idea of economic freedom in Adam Smith's "Wealth of Nations." Friedman explains how markets and voluntary exchange organize activity and enable people to improve their lives.
Government planning and detailed control of economic activity lessen productive innovation and consumer choice. Good better best are replaced by ''approved'' or ''authorized.'' Friedman shows how 'established' industries or methods seek government protection or subsidization.
The Great Depression has been popularly viewed as a failure of capitalism. As Friedman explains the real cause was the unseen failure of government policy and action. Yet this crisis resulting from government failure leads to decades of government expansion.
The welfare state arises from the attempt to do good with other people's money. Such attempts always fail because: Nobody spends somebody else's money as carefully as his own. Good intentions are corrupted by bad means.
The Declaration of Independence says ''All men are created equal.'' Friedman explains that this did not mean all persons should or will have equal talents or income. Equal opportunity to better oneself and the right to personally benefit from the gains realized are consistent with freedom.
Parental choice and parental responsibility in the education of children are the U.S. tradition and are consistent with a free society. The poor help pay for education for the future rich. Friedman has long advocated using vouchers to solve the problem. He explains why.