An Appreciation of Milton Friedman / "The... | Charlie Rose
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Milton Friedman, a towering figure in 20th-century economics, passed away at the age of 94 in San Francisco. Renowned for his advocacy of free markets and laissez-faire capitalism, Friedman was a Nobel Prize laureate whose ideas significantly influenced economic policy in the United States and abroad. His theories on monetary policy were embraced by several administrations, including those of Nixon, Ford, and Reagan, as well as by British Prime Minister Margaret Thatcher. He taught at the University of Chicago for many years and later served as a senior fellow at the Hoover Institution at Stanford.
In a tribute to Friedman, former Secretary of State George Shultz reflects on their long friendship and Friedman's profound impact on economic thought. Shultz highlights Friedman’s emphasis on the importance of the money supply and the Federal Reserve's role in managing inflation, noting that his ideas were instrumental during the economic challenges of the 1970s. Friedman’s belief in individual liberty and limited government intervention continues to resonate, as he argued that the government should primarily focus on defense and foreign policy while allowing free markets to thrive.
The conversation also touches on Friedman's legacy, with Shultz recalling his friend’s passion for freedom and his belief that individuals are best suited to manage their own affairs. Friedman’s work, particularly his influential series "Free to Choose," aimed to promote the idea that economic freedom leads to greater societal benefits. As the world reflects on his contributions, it is clear that Friedman’s ideas will continue to shape discussions on economics and public policy for years to come.
Show Notes
Segment 1: We begin with an appreciation of Nobel Prize-winning economist Milton Friedman with a look at his appearances on the program and a conversation with his friend, former Secretary of State, George Shultz. Uploaded 26-08-07Segment 2: We conclude with a conversation about the new film "The History Boys" with the director, Nicholas Hytner and four members of the cast: Richard Griffiths, Frances de la Tour, Samuel Barnett, and Dominic Cooper.SUBSCRIBE to get the latest from Charlie Rose: http://bit.ly/CharlieRoseSUBSCRIBEConnect with Charlie Rose Online:Visit the Charlie Rose WEBSITE: http://bit.ly/CharlieRoseDotComLike Charlie Rose on FACEBOOK: http://bit.ly/CharlieRoseFacebookFollow Charlie Rose on TWITTER: http://bit.ly/CharlieRoseTwitterFollow Charlie Rose on INSTAGRAM: http://bit.ly/CharlieRoseInstagramAbout Charlie Rose:Emmy award winning journalist Charlie Rose has been praised as "one of America's premier interviewers." He is the host of Charlie Rose, the nightly PBS program that engages America's best thinkers, writers, politicians, athletes, entertainers, business leaders, scientists and other newsmakers. USA Today calls Charlie Rose, "TV's most addictive talk show." New York Newsday says, "Charlie's show is the place to get engaging, literate conversation... Bluntly, he is the best interviewer around today."An Appreciation of Milton Friedman / "The... | Charlie Rosehttp://www.youtube.com/user/CharlieRose Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
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