Milton Friedman on “Soaking the Rich”

This video is a bit of deja’ vu.  It is a segment of an interview on the Phil Donahue show in which the famous professor and monetarist answers a woman’s question that seems to be focused on the unfairness of the existence of billionaires in a capitalist society.

Although the video is about 25 years or so old, the issues are the same that are being debated today – taxing the rich, viabilty of social security and more.

Even though the late economist was an innovator and academic, his explanations remain very accessible to the average person.

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