Episode 3 – Milton Friedman Speaks – Is Capitalism Humane? (Podcast)

Is Capitalism humane? According to Milton Friedman, the question is irrelevant. Capitalism per se is not humane or inhumane; nor is Socialism. If we compare the two in terms of results, it is clear that only capitalism fosters equality and works toward social justice. The one is based on the principle of voluntary cooperation and free exchange, the other on force of position and power. In a free economy, it is hard to do good. You either have to use your own hard-earned money to do it or work hard to persuade others to your course. But by the same …