Milton Friedman was not only a brilliant economist; he was a great debater as well. He had a knack of going straight to the core of an issue. He spoke in words anyone could understand, a rare talent among those in his profession.
Economics is an in-exact science, comprised less of facts and more of schools of thought. The belief in free markets, the sanctity of private property and the Rule of Law is known in the field of economics as “the Friedman school”. Friedman is a Nobel Prize winner but the highest honor an economist can earn is to have the world add the word “school” to your name.
Here is Friedman’s response to Phil Donohue’s version of the age old question, isn’t capitalism a travesty on the poor?