100 years ago today, one of the most influential economist of the 20th century was born. Milton Friedman was a renowned scholar who ripped holes in the economic theories of John Maynard Keynes and other progressives while also serving as economic advisor to such leaders as Ronald Reagan. Business Insider relives one of his most famous interviews discussing capitalism and its relationship to greed:
In 1979, a young Phil Donahue challenged legendary economist Milton Friedman on the principles of capitalism. And specifically he went after the concept of greed.
But Friedman eloquently articulated what capitalism was really about. And how it was behind so much good and wealth that was created in history.
But, Donahue tried to poke holes in Friedman argument.
On what would have been Milton Friedman’s 100th birthday today, watch his most memorable interview ever.
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