Milton Friedman on Greed

I was sent the following video and I just thought that it is too good not to post. While I completely agree with Friedman that capitalism and free enterprise are truly the best means for advancing the welfare of society, he does not delve into the need for government oversight. We know that unsupervised greed can create tremendous havoc for our economy. Capitalists require restrictions so they do not go too far. We saw what unrestrained capitalism did with our last investment bubble. It nearly destroyed our way of life. We are still feeling the effects and will for some time. We are also seeing the effect of regulations not being enforced properly or the right regulations put in place in the fiasco going on in the Gulf of Mexico with British Petroleum.

Both of these events deserve a great deal more input than I am giving them here. I hope that you enjoy this video. The message is pertinent but only a portion of the story. Comments are always appreciated.