Milton Friedman's Words Ring As True Today

If he had lived, economist Milton Friedman would have been 100 years old today.  To me, personally, Friedman was a mentor.  He, as an adviser, was what helped make Ronald Reagan so economically successful. And, to those who call themselves Keynesians,  Friedman was their worst nightmare; exposing the myth of government spending as a means of stimulating an economy.  At the same time, he destroyed the typical liberal concept that increasing taxes have no consequences.

For the most part, his economic principals emanated from a simple, old saying: "There is no such thing as a free lunch".  Friedman's use of those words to explain economic principals is as true today as when he first started popularizing them; especially, now, with Obama and Bernanke spending like the proverbial drunken sailors and, with Obama and the Democrats planning new taxes for the so-called rich.  For this reason, I present one of Friedman's many speeches.  This one titled: "The Free Lunch Myth":

 

Finally, there is this 1978 speech that Mr. Friedman gave on the impact of the government takeover of healthcare.  Again, as pertinent today, with ObamaCare, as it was in 1978.