>> i had a professor who taught paul krugman and milton friedman and i liked friedman better. >> watching paul got me interested. >> i came across ron paul. >> ron paul. >> youtube videos on friedman. john: where did you find them? >> i typed it in the search box, and milton friedman came up and i've been hooked. >> i heard about libertarian from you, on fox news. >> my economics and government teacher in high school played your public choice video. these are not the kind of ideas showing up in textbooks that are written nowadays. >> i'm originally from russia, and moving to the united states, i saw that there is such thing as liberty. john: right! the young people sure know more about liberty and life than i did when i was their age. that's good news, that's our show. from the students for liberty conference, see you next week for another new episode in our new time slot, friday on fbn. good night! >> i'm bob massi. for 34 years, i've been practicing law and living in las vegas, the center of the recent real-estate crisis. lives were destroyed from coast to coast as the economy tanked. n

even before milton friedman, he's a hero of freedom.s economics but he bothered to deal with the morons in the media and explain things simply. here he is in his tv series free to choose showing how government's rules keep increasing. >> 1936 it took three volumes to record all these matters. in 1947 it took four, and then it grew and grew and grew. john: and now it has still more pages. each page has the power to kill good new thing. but it's hard for people to grasp that if you look at one rule at a time. that's why i imitate free to choose by doing these tv shows where i'm buried in today's rules. i said freedoms of hero for explaining hero and you, too are a hero, if you do the same, and you should try, because lots of people just don't get it. malala, the heroic pakistani girl who fought for girls' right to get an education, she later then went to markist summer school and wrote i'm convinced socialism is the only answer, and i urge all comrades to take the struggle to its victorious conclusion. what? socialism is the answer? even

my comment in the book is this is an example of milton friedman explicitly promoting central planning. the reason for that is basic. money supply is never a problem where there is productivity. to paraphrase, no nation or individual need ever worry about having too little money. where there is enormous amount of productivity money and credit are everywhere. where there is very little productivity money and credit are always scarce. to get into specifics beverly hill never has a money supply problem. greenwich, connecticut, never has a money supply problem. the fed couldn't keep money supply and credit off of the island of manhattan on his best day, there are too many productive people, they are a magnet for credit and the money used to obtain that credit. let's imagine a city that is suffering economic problems, a poor city like baltimore maryland. let's imagine the fed believes it can stimulate economic growth with its monetary policies, imagine the fed decides to stimulate baltimore and proceeds to buy up treasuries from baltimore-based to increase funds, such a scenario would fail

the late milton friedman, nobel and pre-marketeer extraordinaire is most associated with this view. my comment in the book is that this is an example of milton friedman explicitly promoted central planning. and that is basic. money supply is never a problem. where there's productivity. to paraphrase ludwig once again, no nation or individual need ever worry about having too little money. where there is enormous amounts of productivity, money and credit are everywhere. where there is very little productivity, money and credit are always there and everywhere scarce. to get into specifics, beverly hills never has a money supply problem. greenwich connecticut never has a money supply problem. the fed could not keep money supply and credit off of the island of manhattan on his very best day. there are too many productive people there. they are a magnet credit and the money that is used to attain the credit. but let's imagine the city that is suffering economic problems written. a poor city. like baltimore in maryland. let's imagine if the fed, they believe it can stimulate economic growt

i found milton friedman videos from liberty and a liberty videos from the institute for human studies: learn liberty, four ways economists think we're all wrong. why 1% of history have 90% of the wealth. sexonomics, what not to do on tinder. from this you learned that we know what makes a country prosper. they weren't doing it in honduras. >> they weren't doing it. i'm also a law student. when i read legislation of my country i started to get what was wrong. and i thought, it had to change. and there was nobody like presenting these ideas. the ideas of liberty that have actually a lot of evidence that the countries implement these ideas get prosperity, peaceful coexistence and human dignity. which is what i think my country needs. john: and, alex, this is one country, 1300 similar groups? >> all six inhabbed continents. we're organizing 50 conferences for 10,000 students around the world this academic world. john: none of this existed. college republicans, democrats. this is it. >> this is very different. students learn about libertarianism through internet and peers study ideas and t

as milton friedman said, part of freedom is the freedom to be a fool.ents says, yes, motorcycles should be mandatory. why, it's my head, leave it alone? >> that's a valid argument. i'm a native, texas. texan.i believe in civil liberties. at 23, i lost one of my close friends who was riding his harley pe. he hit a pothole and died. >> so i'm sorry that happened to him. but i ought to be allowed to risk my life if i want. >> but what about the cost to society as a whole? we have a limited health care dollar budget. and 44% of all the costs of these head trauma patients which are astronomically more costly to our health care budgets are borne by society because weirdly, our -- maybe naturally, the insurance companies don't like to cover motorcycle injuries because of that added health care burden. stossel: this is the argument i hear all the time. other people are paying for this. so this gives the state a reason to intervene. by that logic, the state has the ability to intervene everywhere. why not ban all junk food, cigarettes, swimming pools. there's a

universal basic income plan in finland, but it's also been proposed by a very prominent conservative, milton friedman and charles murray. the design of these matters of course matters a lot. political prospects for this were analyzed by henry aaron who's the senior fellow at hurricanes and and a leading expert on poverty. he sees most americans as quote commodity egalitarians. support programs that prevent poor people from living in decrepit housing are going untreated. only 20 or cash egalitarians to support providing money for those without cash. dust, and i'm quoting, far more willingly vote refundable tax credits to pay for health care them at a refundable tax credits for low incomes. besides travel some administration of the house credit may be, it is child's play next of minutes airing more transfers of cash and i had the past experience support this assessment. their possibilities which supplements and that's a very good ways to do this or the earned income tax credit does that already. there is widespread bipartisan support for increasing the earned income tax credit and increasing it to grou

milton friedman think the most notable. , there are atien handful of other excellent economist and excellent public communicators. the basic truths are not out there in the public mind. i tried to distill the basic truths of economics as they are relevant to today's public policy debate and i've conveniently will it down to 12. here are the basic truths of economics as i see it. if these truths were better understood by the general public, the state of the public debate and the date of politics and policy would be better. it would not be perfect but it would be better. these are in no particular order save the first one. number one, there is no such thing as a free lunch. that means that every benefit have a cost. that does not mean the benefit is worthwhile pursuing or grabbing but it has a cost. costs oftenthese are unseen. the flip side of that is a lot of costs have benefit and the sound economically, you can't just focus on the benefits you see and ignore the call or see the costs and ignore the benefit. behind what is the first act. there are several acts in an economic play and it doe

let me go back to the reagan administration which are a part of milton friedman said the reagan administrationhas made stew poly look positively benign. ronald reagan put in place are those commits arson motorcycles, textiles, steel, tariffs on canadian lumber, japan and memory chips, including by america permission and service transportations. are we using the brave patriot to try to judge the administration mmi and others into harsh on what it is they're trying to do? spin it to extent the administration focuses on bilateral trade imbalances which seems to be a very easy thing to do, easy to talk about, that's a big mistake. we should be thinking about to the extent that it's a problem at all, we should be thinking about our global trade imbalance. my senses after a lot of scary talk during the campaign, are they really shifted now to say and how can we open up other markets. it's not how we can close our markets of china, how could a closer market to canada. it is how can we get more of an opening in those markets. and if that's what we end up doing, that's a plus. >> first of all, i had ex

. >> to andrew's question, milton friedman said one of the key roles of the federal government, one offour that he permitted was to enforce competition. did we allow too much consolidation in this industry? >> you know the numbers don't really show it yet. you know, i wrote columns saying the only reason we're getting this consolidation is because the airline unions wanted it and that's why obama was delivering. but the airlines are making money. they're not making money hand over fist. they're not making unrealistically -- >> but they're not going bankrupt like they used to. >> the industry has to be able to generate a profit. >> would you be against us changing the law to prevent overbooking or kicking people off the planes? look, by your own newspaper suggesting that in some cases these airlines are voluntarily or involuntarily pushing something like 70,000 to 80,000 people a year off the plane. >> i don't want congress to get involved. i don't want lawyers to get involved. i want the public to get involved. >> but for some reason -- but for some reason, from a competitive standpoin