Today’s podcast is titled, “Global Warming.” Recorded in 1997, Professor S. Fred Singer, President, The Science & Environmental Policy Project (SEPP) and Independent Institute Fellow, and Professor Thomas C. Schelling, Economics, University of Maryland, discuss the numerous models, theories, and methods used to try and explain the notion of global warming. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “The Work of Science Fiction Author Jack Williamson.” Jack Williamson has been publishing science fiction stories and novels since 1928. Over his long career, Williamson has written 52 novels. In this conversation from 1997, biographer and editor, Richard A. Hauptmann leads Williamson through a series of questions that trace the publication history of the author’s novels and short stories.  Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “A Conversation with Author and Investor, John Train.” Meet philanthropist and humanitarian, John Train, graduate of Groton School and Harvard University, freelance writer for the New York Times and Washington Post, best-selling author of Money Masters of Our Time and The Midas Touch, and founder of Train, Smith Investment Counsel. Train discusses his life’s experiences and shares his expertise on investing and wealth creation. Recorded in 1987. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Why Are Science Fiction Movies So Bad?” In this conversation from the year 2000, movie and television producer, David Goodman, and Gregory Benford, Professor of Physics at the University of California, Irvine, discuss why science fiction movies are so bad. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Contributions of Chemistry.” Professor George Olah, 1994 Nobel Prize Winner in Chemistry, and Mr. Donald Alstadt, Chairman Emeritus of the Lord Corporation, discuss the contributions of chemistry. Recorded in 1999. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Physics at 2000: The Characteristics of Time.” Dr. Tomio Petrosky, Senior Research Scientist at the Prigogine Center for Statistical Mechanics, Dr. Dean Driebe, Research Associate at the Prigogine Center, and Dr. Ilya Prigogine, Director of the Prigogine Center and 1977 Nobel Prize winner in Chemistry, discuss physics and the characteristics of time. Recorded in 1999. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Ethnic Questions Among Post-USSR Emerging Republics.” From 1991, Vladimir Socor, political analyst with the Jamestown Foundation, Dzintra Bungs, Senior Research Fellow, Latvian Institute of International Affairs, and Bohdan Nahaylo, writer with Radio Free Europe/Radio Liberty, discuss the question of relations among the many ethnic groups that were encompassed within the USSR and its importance to the structure and stability of these emerging republics. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Origins of The International Rice Research Institute.” Dr. Norman Borlaug, 1970 Nobel Peace Prize Winner, and Dr. Robert Chandler, Founding Director Emeritus of the International Rice Research Institute, discuss the origins of the International Rice Research Institute and describe how the impetus for the Institute began with Borlaug’s work with wheat in Mexico. Recorded in 1994. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “The Synthetic Interview: Tool for Advanced Learning.” Professor Don Marinelli, Co-Director of the Entertainment Technology Center at Carnegie Mellon University, and Dr. Scott Stevens, Senior Systems Scientist at Carnegie Mellon University, discuss a software tool in 1998 which allows authors to take written dialogue and transform it into interactive character conversation. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Dilemma of Forgiveness.” Julie Juola-Exline, Ph.D, Psychology, Case Western Reserve University, and Roy Baumeister, Ph.D, Psychology, Case Western Reserve University, attempt to define forgiveness and discuss the drawbacks and benefits of forgiving. Recorded in 1998. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Science Fiction in the Classroom.” Frederik Pohl, science fiction writer, and Elizabeth Anne Hull, Professor of English at W.R. Harper College, discuss the joys and difficulties of teaching science fiction.  Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Issues in Economics, Politics, and The Sciences.” Professor Sam Peltzman, Director of the George J. Stigler Center for the Study of the Economy and the State, University of Chicago’s Booth School of Business and Professor Stephen M. Stigler, Ernest DeWitt Burton Distinguished Service Professor, University of Chicago Statistics Department, discuss issues in economics, politics, and the sciences. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Vitamins and Medicine.” Richard A. Kunin, Past President of the Orthomolecular Medical Society and Gladys Block, Professor of Public Health, Nutrition, and Epidemiology at UC Berkeley, join Linus Pauling, 1954 Nobel Laureate in Chemistry, in this exploration of the role of vitamins in the prevention of disease. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Economic Theory and Fluctuations in Output and Inflation.” Dr. Kenneth J. Arrow, Professor of Economics Emeritus at Stanford University and 1972 Nobel Prize Winner in Economic Science and Professor John B. Taylor, Senior Fellow and Professor of Economics at the Hoover Institute, Stanford University, discuss economic theory and fluctuations in output and inflation. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Neurobiology.” Dr. Ron McKay, Chief of the Laboratory of Molecular Biology, National Institute of Neurological Disorders & Stroke and Dr. Marshall Nirenberg, 1968 Nobel Prize Winner in Physiology/Medicine, discuss the medical science of neurobiology. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Robotics.” Chuck Thorpe, Principal Research Scientist at Carnegie Mellon University and Dr. Takeo Kanade, Director of the Robotics Institute at Carnegie Mellon University, discuss the economics of robotics, advances in technology, and roadblocks to innovation. They also expand on the many educational and entertainment purposes of robots. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Reflections on Sociology and Social Change.” Dr. Alex Inkeles, Senior Fellow, Hoover Institution and Dr. Robert Hessen, Senior Research Fellow, Hoover Institution, reflect on sociology and social change in the modern world. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “The Soviet Collapse.” Richard Pipes, Professor of History at Harvard University and Adam Ulam, Director of the Russian Research Center and Gurney Professor of History and Political Science at Harvard University, discuss the events and conditions which led to the collapse of the Soviet Union. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Why is there Evil?” Ulysses Torassa, Journalist for the San Francisco Examiner and Dr. Roy F. Baumeister, Professor of Psychology, Case Western Reserve University, discuss the origins of evil and why it exists. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Teaching Economics from a Historical Perspective.” Professor Hanna H. Gray, President Emerita, University of Chicago and Professor Robert W. Fogel, Director, Center for Population Economics, University of Chicago Graduate School of Business, and 1993 Nobel Prize winner in Economics, discuss teaching economics from a historical perspective. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Is There a Distinct American Culture?” Herb London, John M. Olin Professor of Humanities at New York University and John O’Sullivan, Editor for The National Review, discuss how to determine if there is a distinct American culture.Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Africa’s Agriculture Crisis.” Dr. Norman Borlaug, 1970 Nobel Peace Prize Winner and Founder of the International Wheat and Maize Institute, Dr. Robert Chandler Jr., Founding Director Emeritus of the International Rice Research Institute, and Dr. Nyle Brady, International Development Consultant for the World Bank and United Nations discuss Africa’s agriculture crisis. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “New Statistics – Without Tears.” Peter C. Bruce, Director of the Resampling Project at the University of Maryland and Julian L. Simon, Professor of Business Administration at the University of Maryland present the history and ramifications of the new statistics of resampling. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “The Causes and Prevention of Cancer.” Dr. Lois Swirsky Gold, Director of the Carcinogenic Potency Project, University of California – Berkeley and Professor Bruce Ames, Director of the Environmental Health Sciences Center, University of California – Berkeley discuss the causes and prevention of cancer. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Issues in Economics: Then & Now.” 1981 Nobelist (Economics) James Tobin, Sterling Professor Emeritus at Yale University and William C. Brainard, Arthur M. Okun Professor of Economics of the Cowles Foundation, discuss historical and current issues in economics. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Polymorphism and Human Disease.” Dr. Baruch S. Blumberg, Fox Chase Cancer Center, winner of the 1976 Nobel Prize in Physiology/Medicine, and Prof. H. Sharat Chandra, Indian Institute of Science, Bangalore, India, discuss polymorphism and human disease. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Crime, Law and Order, and Legislative Solutions.” Dr. Alex Inkeles, Senior Research Fellow at the Hoover Institution and Dr. Joseph McNamara, Research Fellow, also at the Hoover Institution, discuss crime, law and order, and legislative solutions. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Evolution and Aging.” Dr. Christian de Duve, Belgian Physician and Biochemist and 1974 Nobel Prize winner in Physiology/Medicine and Dr. Harry Moody, Executive Director of the Brookdale Center on Aging discuss the evolution of the human body and how it progresses through time. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Cultural and Personal Meanings of the Holidays.” Atwood Gaines, Professor of Anthropology, Don Freedheim, Professor of Psychology, Roy Baumeister, Professor of the Liberal Arts, and Jetse Sprey, Professor of Sociology, Case Western Reserve University discuss the cultural and personal meaning of the holidays. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Keynesian Economics.” Keynesian Economics w/ Prof. James Tobin, Sterling Professor Emeritus-Economics, Yale University and the winner of the 1981 Nobel Prize in Economics and Robert Shiller, Stanley B. Resor Professor of Economics, Yale University. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Social Security.” Peter Diamond, MIT Institute Professor and Dr. Franco Modigliani, 1985 Nobel laureate in Economics, talk about many different facets of social security including its history, benefits, and future. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Isaac Asimov.” Renowned science-fiction writer Isaac Asimov explores the appeal of science-fiction as well as the consequences of scientific understanding in popular culture. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Institutions and Economic Performance.” Timur Kuran, Professor of Economics and King Faisal Professor of Islamic Thought and Culture at the University of Southern California and Dr. Douglass North, Professor of Economics at Washington University and 1993 Nobel Prize winner in Economics discuss institutions and economic performance. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Progress in Cosmology: 2000.” Prof. Bernard Sadoulet, Director of the Center for Particle Astrophysics at University of California – Berkeley and Professor of Astronomy and Physics Marc Davis discuss the progress that has been made in Cosmology at the turn of the century. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Is Optimism Warranted.” Herbert Stein and Ben Wattenberg, Senior Fellows at the American Enterprise Institute, consider the many factors which threaten America’s political stability and economic growth. Stein and Wattenberg agree that while attention has been focused primarily on economic issues, of more pressing concern are the social problems of drug abuse, single-parent families, racism, and the like. Given these challenges, is there any reason to be optimistic that the U.S. will continue to prosper? Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Financial Globalization and Currency Movement.” 1981 Nobel Prize winner in Economics James Tobin discusses financial globalization and currency movement with Economics Professor and Director of the Cowles Foundation, John Geanakoplos. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Musing About Our Life in Chemistry.” Recorded in 2000, Professor Rudolph A. Marcus, Arthur Amos Noyes Professor of Chemistry at the California Institute of Technology, and Dr. George Olah, Director of the Loker Hydrocarbon Research Institute at the University of Southern California discuss their life and work in Chemistry. Both participants received the Nobel Prize in Chemistry, Professor Marcus in 1992 and Dr. Olah in 1994. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “What Works and What Doesn’t in Our Criminal Justice System.” Behavioral Scientist Robert MacCoun, Director of the RAND Corporation’s Criminal Justice Program Joan Petersilia, and Peter Greenwood, the program’s Senior Researcher discuss the intricacies and challenges of building a better criminal justice system. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Judicial Selection and American Government.” Professor of Law Franklin E. Zimring and Professor of Political Science Nelson W. Polsby share meaningful conversation over a topic more relevant than ever. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “How Scientists and Non-Scientists Look at Science.” 1996 Nobel Prize Winner in Physics Dr. Douglas Osheroff and science writer David Salisbury discuss the different views scientists and non-scientists have about science. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Conversation with Philip Anderson.” 1977 Nobel Prize Winner in Physics Dr. Philip W. Anderson and California Institute of Technology Professor of Humanities Dan Kevles share fascinating and lively conversation. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Property and Freedom, Part 2.” Recorded in 2000, Dr. James D. Gwartney, Chief Economist of the Joint Economic Committee, and Richard Pipes, Professor Emeritus at Harvard University, continue the discussion about property rights, ownership, and responsibilities. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Property and Freedom, Part 1.” Recorded in 1993, Ronald W. Jones, Xerox Professor of Economics at the University of Rochester, and Richard Pipes, Professor Emeritus at Harvard University, discuss property rights, ownership, and responsibilities. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Understanding Ancient North America.” Recorded in 1992, James Adovasio, Director of Anthropology & Archaeology at Mercyhurst College and Paul Zolbrod, Fredrick F. Seely Professor of English at Allegheny College ask “Can physical archaeology and the oral traditions of existing Native Americans be brought together in the search for better understanding of past cultures? Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Conversation with Jonathan Hughes.” Recorded in 1987, Jonathan Hughes discusses American economic history, why the U.S. prospered in the past, and how to continue that success. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Teaching Science Fiction.” Recorded in 1999, Patrice Caldwell, Director of Institutional Renewal at Eastern New Mexico University, and celebrated science fiction author Jack Williamson discuss teaching science fiction. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Women and Management Styles.” Recorded in 1993, Judy B. Rosener, Professor of Management at UC Irvine and Virginia I. Postrel, Editor at Reason Magazine, discuss the results of Rosener’s research on the management styles of women. Rosener and Postrel debate whether the corporate culture properly values the unique perspective women bring to the workplace. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Science and Society.” Recorded in 1999, Gerald Holton, Mallinckrodt Professor of Physics at Harvard University, and Nicolaas Bloembergen, Professor Emeritus at Harvard University and 1981 Nobel Prize winner in Physics, discuss how science affects society and vice versa. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Trauma and Meaning.” Recorded in 1993, UC Irvine Professor Roxanne Cohen Silver and Case Western Professor Roy F. Baumeister examine the ways in which victims are affected by the traumas which befall them. It is suggested that trauma’s real impact is not primarily the event itself, but the degree to which the victim’s beliefs are challenged by the trauma. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Democracy and Rent Seeking.” Recorded in 1992, Nobel Laureate James M. Buchanan and Prof. Gordon Tullock discuss events in the public choice arena since the publication of their groundbreaking 1962 book, The Calculus of Consent: Logical Foundations of Constitutional Democracy. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “His Thoughts: Glenn Loury.” Glenn Loury was raised on the south side of Chicago in a predominantly black neighborhood. He discusses his opposition to affirmative action, his concern about many actions by black community leaders, and the appreciation of black achievement in the face of discrimination. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.

Today’s podcast is titled, “Walter Williams: Suffer No Fools”. This program traces Walter Williams’ rise from a child of the Philadelphia housing projects to become one of America’s most important authors and commentators and features the events of the 1960’s when Walter Williams realized “black people cannot make great progress until they understand the economic system.” It was then that he concluded that what America needed was to heed the words and the ideas of the Constitution. Listen now. Or watch this program on Free To Choose Network’s YouTube channel.

Today’s podcast is “Swords into Plowshares,” episode three of the three-part public television documentary Turmoil & Triumph: The George Shultz Years. In this final episode, Shultz and Reagan meet with Gorbachev again in Iceland to determine the future of a nuclear world. In 1989, Shultz leaves the State Department and returns to the world of ideas as a Fellow at the Hoover Institution at Stanford University. He continues his search for peace and security as a passionate advocate for nuclear disarmament. Listen now.

Today’s podcast is “To Start the World Again,” episode two of the three-part public television documentary Turmoil & Triumph: The George Shultz Years. In episode two, George Shultz accompanies Reagan on a trip to Japan, but as they arrive back Philippine dissident Ninoy Aquino is assassinated and things are thrown into turmoil. Reagan is taken with the Contra rebels in Nicaragua. And George Shultz seeks an end to the Cold War. Listen now.

Today’s podcast is “A Call to Service,” episode one of the three-part public television documentary Turmoil & Triumph: The George Shultz Years. Episode one examines George Shultz’s early life, his service as a U.S. Marine, his academic career as a free market economist and his early cabinet posts under President Nixon. Shultz’s experiences give him extensive international contacts and diplomacy skills, critical experience for what lay ahead. Listen now.

Democracies have only recently been considered desirable. Historically, it had been feared democracies always self destruct when citizens, forgetting that you cannot remove want and misery through legislation, insist on government actions that physically and morally bankrupt their nation. Milton Friedman explains why the United States has so far avoided this outcome and how we can continue to do so. Today’s podcast is “How to Stay Free.” Listen now.

In today’s podcast, Milton Friedman is joined by other guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “How to Cure Inflation,” part of volume nine of the ten-part public television series “Free To Choose.” Listen now.

Inflation results when the amount of money printed increases faster than the creation of new goods and services. Money is a ”token” of the wealth of a nation. If more tokens than new wealth are created, it takes more tokens to buy the same goods. Milton Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. Today’s podcast is “How to Cure Inflation.”

In today’s podcast, when President Kennedy was confronted by the Cuban Missile Crisis in 1962, he formed an executive committee to assist him in deciding on a course of action. Twenty years later, Professor Richard Neustadt interviewed General Maxwell Taylor to reflect on Taylor’s key role on that committee and in the Cuban Missile Crisis. Here is “The Cuban Missile Crisis Revisited: Phase 3.”

In today’s podcast, we present part two of a panel moderated by Richard Neustadt with four members of President John F. Kennedy’s executive committee–Robert S. McNamara, George W. Ball, McGeorge Bundy, and U. Alexis Johnson–as they reconvene twenty years after the Cuban Missile Crisis to reflect on the lessons learned. Here is “The Cuban Missile Crisis Revisited: Phase 2, Part II.” Listen now.

In today’s podcast, Milton Friedman is joined by other guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “Who Protects the Worker?,” part of volume eight of the ten-part public television series “Free To Choose.” Listen now.

Unions and government both try to protect workers but it usually comes at the expense of other workers. Both end up restricting freedom. Milton Friedman explains how the competition of employers for the talents of workers leads to the highest wages and best working conditions. Today’s podcast is “Who Protects the Worker?” Listen now.

In today’s podcast, twenty years after the Cuban Missile Crisis, Richard Neustadt moderates a panel of four members of President John F. Kennedy’s executive committee–Robert S. McNamara, George W. Ball, McGeorge Bundy, and U. Alexis Johnson–as they reconvene to reflect on the lessons learned. Here is “The Cuban Missile Crisis Revisited: Phase 2, Part I.” Listen now.

In today’s podcast, Milton Friedman is joined by other guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “Who Protects the Consumer?,” part of volume seven of the ten-part public television series “Free To Choose.” Listen now.

Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle innovation, and become agents for the industries or groups they are intended to regulate. Friedman explains how the free market and competition are the best protection for consumer interests. Today’s podcast is “Who Protects the Consumer?” Listen now.

In today’s podcast, when President Kennedy was confronted by the Cuban Missile Crisis in 1962, he formed an executive committee to assist him in deciding on a course of action. Twenty years later, four members of that committee reflect on the lessons learned. Here is “The Cuban Missile Crisis Revisited: Phase 1.” Listen now.

In today’s podcast, Milton Friedman is joined by guests Dr. Gordon Tullock of the University of Arizona and Dr. Henry Levin of Stanford University for an updated discussion of some of the ideas presented in the documentary segment of “The Failure of Socialism,” part of a 1990 update to the ten-part public television series “Free To Choose.” Listen now.

In today’s podcast, Milton Friedman is joined by other distinguished guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “What’s Wrong With Our Schools,” part of volume six of the ten-part public television series Free To Choose. Listen now.

Today’s podcast is “What’s Wrong With Our Schools,” volume six of the ten-part public television series Free To Choose. Parental choice in children’s education is consistent with a free society. Centralized government control has adversely affected quality of education. Milton Friedman advocates vouchers to solve the problem. Listen now.

In today’s podcast, the now late Dr. Norman Borlaug, Dr. Robert Chandler, Jr., and Dr. Nyle Brady, all of whom had devoted their professional lives to the task of feeding the hungry, identify the many causes of Africa’s current agricultural crisis. Here is “Africa’s Agricultural Crisis.” Listen now.

In today’s podcast, Milton Friedman is joined by guests Thomas Sowell of the Hoover Institution and Michael Kinsley of The New Republic for an updated discussion of some of the ideas presented in the documentary segment of “Created Equal,” part of volume five of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, Milton Friedman is joined by other distinguished guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “Created Equal,” part of volume five of the ten-part public television series Free To Choose. Listen now.

The Declaration of Independence says, ”all men are created equal.” Milton Friedman explains that this does not mean all persons should or will have equal talents or income. Equal opportunity to better oneself and the right to personally benefit from the gains realized are consistent with freedom. Taking from some to give to others destroys freedom and removes the incentive for creating new wealth. Today’s podcast is “Created Equal,” volume five of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, laboratory chief of biochemical genetics at the National Heart Institute, the now late Dr. Marshall Nirenberg, and chief of the laboratory of molecular biology at the National Institute of Disorders & Stroke, Dr. Ron McKay, discuss neurobiology and the science behind it. Here is “Neurobiology.” Listen now.

Today’s podcast is the discussion segment from “From Cradle to Grave,” part of volume four of the ten-part public television series Free To Choose. Milton Friedman is joined by other distinguished guests, including Thomas Sowell, at the University of Chicago to discuss some of the ideas presented in the documentary segment of “From Cradle to Grave.” Listen now.

The welfare state arises from the attempt to do good with other people’s money. Such attempts always fail because nobody spends someone else’s money as carefully as their own. Those spending the money use force to collect it and to ensure those receiving it use it for the ”right” purposes. Good intentions are corrupted by bad means. In today’s podcast, “From Cradle to Grave,” Friedman visits the U.S. and Britain to explore these topics. Today’s podcast is “From Cradle to Grave,” volume four of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, social psychologist Roy Baumeister and psychologist of religion & spirituality Julie Exline discuss forgiveness. What is forgiveness? What are the costs and drawbacks of it? What are the positives? Dive into this deep discussion with Roy and Julie. Here is “The Dilemma of Forgiveness.” Listen now.

In today’s podcast, Milton Friedman is joined by other distinguished guests at the University of Chicago. They discuss some of the ideas presented in the documentary segment of “Anatomy of Crisis,” part of volume three of the ten-part public television series Free To Choose. Listen now.

The Great Depression has been popularly viewed as a failure of capitalism. The stock market crash, the collapse of the Bank of United States, and the loss of personal savings were visible symbols supporting this belief. In today’s podcast, Friedman explains the real cause was the unseen failure of government policy and action. Yet this crisis resulting from government failure leads to decades of government expansion. Today’s podcast is “Anatomy of Crisis,” volume three of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, Ed Feulner, founder and former president of The Heritage Foundation, discusses the facts and fictions of government growth. He also talks about why advocates of ideas can’t stop fighting, even when the ideas are accepted. Originally recorded in 1987, here is “PRC Forum: Ed Feulner.” Listen now.

In today’s podcast, Milton Friedman is joined by guests Michael Walker of the Fraser Institute and Steven Cohen of the University of California at Berkeley for an updated discussion of some of the ideas presented in the documentary segment of “The Tyranny of Control,” part of volume two of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, Milton Friedman is joined by other distinguished guests at The University of Chicago. They discuss some of the ideas presented in the documentary segment of “The Tyranny of Control,” part of volume two of the ten-part public television series Free To Choose. Listen now.

Government planning and detailed control of economic activity lessen productive innovation and consumer choice. Good, better, best, are replaced by ”approved” or ”authorized.” Economist Milton Friedman visits India, Japan, and the United States to show how “established” industries or methods seek government protection or subsidization in their attempts to stop or limit product improvements which they don’t control. Today’s podcast is “The Tyranny of Control,” volume two of the ten-part public television series Free To Choose. Listen now.

Charles Spahr, retired Chief Executive Officer of Sohio, tells of his progress through the ranks to become the leader of a major corporation and gives the inside story of how he directed the building of the Alaskan pipeline. Listen now to today’s podcast, “A Conversation with Charles Spahr.”

In today’s podcast, Milton Friedman is joined by guests David Brooks of The Wall Street Journal and James Galbraith from the University of Texas for an updated discussion of some of the ideas presented in the documentary segment of “The Power of the Market,” part of volume one of the ten-part public television series Free To Choose. Listen now.

In today’s podcast, Milton Friedman is joined by other distinguished guests in the Harper Library at The University of Chicago. They discuss some of the ideas presented in the documentary segment of “The Power of the Market,” part of volume one of the ten-part public television series Free To Choose. Listen now.

America’s freedom and prosperity derive from the combination of the idea of human liberty in America’s Declaration of Independence and the idea of economic freedom in Adam Smith’s Wealth of Nations. Economist Milton Friedman visits Hong Kong, the United States, and Scotland to explain how markets and voluntary exchanges organize activity and enable people to improve their lives. Today’s podcast is “The Power of the Market,” volume one of the ten-part public television series “Free To Choose.” Listen now.

Today’s podcast is from our 2016 public television documentary film, Ideas That Changed the Word, the second of a two-part series, The Real Adam Smith: A Personal Exploration by Johan Norberg. Adam Smith was a moral philosopher, a bold voice of the Scottish Enlightenment, the world’s first economist, and author of The Theory of Moral Sentiments and The Wealth of Nations. But in today’s society, has the global economic system become so big and so complex that morality and human empathy are no longer relevant? Why are Smith’s ideas still significant today? Listen now to find out, and don’t forget …

Adam Smith was a moral philosopher, a bold voice of the Scottish Enlightenment, the world’s first economist, and author of The Theory of Moral Sentiments and The Wealth of Nations. But in todays’ seemingly ruthless competitive environment, where the stakes are high, can ethical and honest businesses still prosper? How are Smith’s ideas about markets and morality relevant today? Today’s podcast is from our public television documentary film, Morality and Markets, the first of a two-part series, The Real Adam Smith: A Personal Exploration by Johan Norberg. Listen now.

In our 2009 documentary, The Power of the Poor, Hernando de Soto and his team of researchers found that an astonishing 98% of all businesses in Peru were extralegal, as was 88% of all rural property. Extralegals had constructed seven out of every ten buildings, had run almost all of its public transportation system, and built and owned the vast majority of Lima’s markets. It was clear the majority of Peru’s entrepreneurs had been locked out of the legal system. De Soto and his researchers at the Institute for Liberty and Democracy would risk their lives to let them in. …

Somewhere on Earth, at this very minute, a child is beginning its journey through life. 250 babies are born every minute, 15 thousand an hour, 132 million a year – each and every year. Among them may be the potential to cure disease, or change the course of world history, because people are the world’s ultimate resource. Around the world, there are enormous and complicated challenges. But extraordinary change can happen when ordinary people have the tools and the freedom to make their own decisions. Free market incentives are spectacularly changing lives and entire economies over much of the world. …

While still in college, Barbara Branden, and her soon to be husband Nathaniel, began a relationship with Ayn Rand that lasted for almost two decades. They studied and discussed her ideas in depth and travelled the country speaking about Rand’s objectivist philosophy. The ideas were controversial and were not well accepted by the general public. In 1987 Bob Chitester sat down with Barbara to talk about the time she spent with Rand, creating a deeper understanding of Rand, her ideas and philosophy. This one-hour interview is a fascinating look into Rand’s life and her relationship with the Brandens.

Although recorded in the early 1990s, self-esteem was discussed as much then as it is today. Do you think it’s true that “…many, many groups that are the targets of prejudice and discrimination don’t show terrible low levels of self-esteem that a lot of psychological theory suggests they ought to have?” Listen in as Dr. Jennifer Crocker, former Professor of Psychology at SUNY-Buffalo, and Dr. Roy F. Baumeister, former E.B. Smith Professor in Liberal Arts at Case Western Reserve University, discuss surprising research findings on the methods people use to protect their self-esteem. The results may surprise you. Listen to …

In 1993 three giants in the field of neural research got together to discuss their work and how it related to learning and memory. Dr. Timothy Tully, former Senior Staff Investigator at the Cold Spring Harbor Laboratory, Dr. Eric Kandel, 2000 Nobel Prize winner in Physiology/Medicine, and the late Dr. Patricia Goldman-Rakic, Professor of Neuroscience at the Yale University School of Medicine, spent time discussing their different research approaches and what they were discovering about how human beings learn, acquire new information, and hold on to it. From Pavlov to genetics, these scientists were opening new doors to understanding how …

Larry Arnn, current President of Hillsdale College, met with his former teacher in 1999, the late distinguished fellow of the Claremont Institute, Harry Jaffa, to discuss his political philosophies. Jaffa believed the American Founders, including Thomas Jefferson, James Madison, and George Washington, established the nation on political principles traceable from Locke to Aristotle. While he believed that governments are instituted to protect rights, he acknowledged the higher ends they serve, primarily happiness. Listen to this week’s Free To Choose Media Podcast, “Founders.”

When two giants in their respective fields get together for a casual conversation, what topics are on the agenda? Listen in as the late George P. Shultz, former Secretary of State under Ronald Reagan, and the late Nobel economist Gary Becker discuss the International Monetary Fund, America’s dependence on oil, micro-lending, demography, immigration, and drugs. The subjects are as relevant today as they were in this 2006 recording, “A Conversation with George P. Shultz and Gary Becker.”

The late George P. Shultz, former Secretary of State under Ronald Reagan, and the late Robert Conquest, former Stanford Research Fellow and noted Soviet researcher, shared anecdotes about their contacts and experiences with the Soviet Union. Both men were impressed with former Soviet President Gorbachev’s candor and intelligence. During a visit to Stanford to see Shultz, Gorbachev talked about an earthquake in Armenia that was of similar severity to one experienced by San Francisco and how all the buildings in Armenia had fallen down – not so in San Francisco. Gorbachev said, “… we can’t get people to build things …

In 1987, David Horowitz, a political activist, author, and founder of the David Horowitz Freedom Center, sat down with Bob Chitester to talk about his transformation from far left to far right. Born into a family that were members of the Communist Party USA, he spent his youth attending marches and communist summer camps. In the mid-’80s, Horowitz had a final reckoning with his years of doubts about his affiliation with the left and became a conservative. “The best intentions can lead to the worst results,” he wrote in “The Village Voice” in 1986. “I had believed in the left …

This is the third and final hour of a three-part exchange between the late Friedrich von Hayek, economist and Nobel laureate, and the late Leo Rosten, author and social scientist. In this segment, von Hayek evaluates economic trends and comments on the direction in which he believed we were heading at the time. Additionally, von Hayek talks about his very brief foray into psychology, writing a book called “The Sensory Order.” Though not well received, it taught him a great deal on the methodology of science. He later wrote that the theory of complex phenomena is equally the product of …

This is the second hour of a three-part exchange between the late Friedrich von Hayek, economist and Nobel laureate, and the late Leo Rosten, author and social scientist. It encompasses von Hayek’s theories and the many people and events which shaped his thoughts and career. Von Hayek spends some time discussing John Maynard Keynes and he reveals that though they shared space in the field of economics and were good friends, they eventually stopped discussing economics because their philosophies were quite different. Listen to Friedrich von Hayek and Leo Rosten Part II to learn more.

Originally recorded in 1978, this is the first session of a lively and occasionally controversial three-part interview of the late Friedrich von Hayek, economist and Nobel laureate, by the late Leo Rosten, author and social scientist. It is a wide-ranging discussion of von Hayek’s life and work, primarily in the areas of philosophy of science, political philosophy, the free will problem, and epistemology. Hayek created a furor with his book The Road to Serfdom. The book came out at a time when he was a lone voice speaking about the terrible dangers inherent in good and well-intentioned people turning powers …

Originally recorded in 2000, Ronald W. Jones is Xerox Professor Emeritus of Economics at the University of Rochester, and James Gwartney holds the Gus A. Stavros Eminent Scholar Chair at Florida State University. Gwartney is also a member of the Fraser Institute and is part of the team that puts together the Economic Freedom of the World Annual Report. In this podcast, these two illustrious economists have a lengthy conversation about the concepts of economic freedom and prosperity. Though originally recorded twenty years ago, these concepts are timeless. Does wealth equal economic freedom? Listen in to Economic Freedom and Prosperity …

In 1998, Bob Chitester sat down with the now late Dr. Christian de Duve, 1974 Nobel Prize winner in Physiology or Medicine, to talk about his background, what led him to choose his research path, and his desire to seek the truth. At some point, de Duve concluded that one of the ways to seek truth was through understanding life. However, as he tells Chitester, “You shouldn’t get away with the idea that I spent all my life thinking about the great mysteries. I forgot about the great mysteries as soon as I started doing laboratory work because then I …

Former Secretary of State George P. Shultz is one of only two people to have held four different Cabinet posts. As Secretary of State under President Ronald Reagan from 1982 to 1989, he was instrumental in shaping the administration’s foreign policy. Listen in as Secretary Shultz and Bob Chitester talk about Shultz’s background and the kind of upbringing and education that led to his illustrious career. A Conversation with George P. Shultz and Bob Chitester was originally recorded in 2006.

George Shultz, former Secretary of State, and Mikhail Gorbachev, former President of the Soviet Union, were responsible for the initial meetings that led to melting the ice of the Cold War. In this conversation, the two diplomats talk about their first meeting and the impressions each had on the other. Their candid exchanges made it possible for the United States and the Soviet Union to begin the process of communication. You can sense the beginnings of a mutual respect. “This is a different man. This is an agile mind… you can have a conversation with this man. He’s terrific.” This …

Richard Strier, author and winner of the Warren-Brooks Prize for Literary Criticism, talks with the late Richard Stern, author and professor of literature, about their memories, observations, and perspectives. Stern credits life experiences for giving texture and animation to his work and early influence from his family life on his strong preference for a concise and “boiled down” writing style. Share in “Things into Fiction” between two literary giants, originally recorded in ­­­­­­­­­­2003.

“How do we get new economic ideas? One of the fascinating questions that always bothers me, and many economists, right, is how do you get an Albert Einstein?” James Heckman posed this question to the late Robert Fogel in this discussion about Empirical Economics, originally recorded in 2001. The two Nobel prize winners talk about some of the history of economics and how changes in scientific knowledge embody the new technologies and the motor and engine of economic growth.

Listen to 30 minutes with the late Aaron Wildavsky, Professor of Political Science and Public Policy, and Dr. Bruce Ames, Professor Emeritus of Biochemistry and Molecular Biology, both at UC Berkeley, as they discuss the development & refinement of research objectives. It was recorded in 1992.

Listen to 50 minutes with David Kelley, philosopher and founder of The Atlas Society, and Jim Powell, author, journalist, and CATO Senior Fellow, as they discuss the formation and testing of ideas in What is An Idea?. It was recorded in 1992.

Walter Wriston, the former Chairman and CEO of Citicorp, was widely regarded as the single most influential commercial banker of his time. Originally recorded in 2004, Conversation with Walter Wriston and Bob Chitester covers the winding road Wriston took to the pinnacle of his field and the influences that guided his journey. Listen in as they share anecdotes and personal information about their lives and choices.

The late Dr. Milton Friedman, 1976 Nobel Laureate in Economics and host of Free To Choose, urges alertness to the difference between false and real problems concerning government in PRC Forum: Milton Friedman. The problem is not budget deficits, trade deficits, or federal debt. The problem is government spending relative to income, protectionist policies, and unfunded debt resulting from entitlements. It was recorded in 1987.

Listen to the late U.S. Supreme Court nominee Robert Bork and the late Nobel Prize winner Friedrich von Hayek, as they engage in a lively discussion of the economic theories developed in von Hayek’s book, “Law, Legislation and Liberty,” in Friedrich von Hayek & Robert Bork Part 3. It was recorded in 1978.

Listen to the late U.S. Supreme Court nominee Robert Bork and the late Nobel Prize winner Friedrich von Hayek, as they engage in a lively discussion of the economic theories developed in von Hayek’s book, “Law, Legislation and Liberty,” in Friedrich von Hayek & Robert Bork Part 2. It was recorded in 1978.

Listen to the late U.S. Supreme Court nominee Robert Bork and the late Nobel Prize winner Friedrich von Hayek, as they engage in a lively discussion of the economic theories developed in von Hayek’s book, “Law, Legislation and Liberty,” in Friedrich von Hayek & Robert Bork Part 1. It was recorded in 1978.

Listen to an hour with the late Lloyd Motz, Professor Emeritus of Astronomy at Columbia University, and the late broadcaster Hugh Downs, as they discuss Motz’s life and work, including his book “The Essentials of Astronomy,” which is arguably the best introductory astronomy text ever written. Downs is a former student who took astronomy at Columbia in 1957. Dr. Motz, who was named professor emeritus in 1977, believes the major discoveries in physics have already been made, and that what remains is for science to harness that knowledge to humanity’s benefit. It was originally recorded in 1999.

Listen to Economists Keith Bush (Russia), Ben Slay (East-Central Europe), and John Tedstrom (East-Central Europe) discuss how to introduce a market economy in nations that have had totalitarian command economies for 40 to 70 years. The challenge is significant and there are varied approaches to the problem. It was recorded in 1991.

Listen to Daniel Klein, Associate Professor of Economics at Santa Clara University, and Professor David Henderson, Research Fellow at the Hoover Institution, discuss whether economists can reach a conclusion in Do Economists Reach a Conclusion?. It was recorded in 2000.

Listen to Dr. Charles Plott, William D. Hacker Professor of Economics and Political Science at the California Institute of Technology, and the late Dr. Kenneth Arrow, Professor of Economics at Stanford University, and 1972 Nobel Prize winner in Economic Sciences discuss Theory and Experiments with Markets. It was recorded in 2000.

In this discussion, Difficulties of Sensible Economic Decision-Making in a Democracy Listen to Dr. John Shoven, Professor Emeritus of Economics and Director of the Stanford Institute for Economic Policy Research at the Hoover Institution, and Anne Krueger, Professor Emeritus of Science and Humanities in Economics at Stanford University, as they discuss how difficult economic decisions are to make in a democracy in. It was recorded in 2000.

Listen to Dr. Reinhard Selten, Director of the Laboratory for Experimental Economics and Dr. John F. Nash, Jr., Professor of Mathematics at Princeton University, discuss Game Theory Applications. Nobel Prize winner, Dr. Selten, and Nobel Memorial Prize winner, Dr. Nash, both received their awards in 1994. This discussion was recorded in 2000.

Listen to Professors Sidney Hook, Hoover Fellow, and Tibor Machan, Professor at Auburn University explore the controversial life and ideology of Karl Marx, giving particular attention to Marx’s ideas on work in For the Love of Work: Karl Marx. It was recorded in 1987.

Listen to a lively discussion with Nobel Economist Milton Friedman and seven young adults discussing our government’s potential to act as an agent for social change in Tyranny of the Status Quo. They examine those factors which have worked to maintain outdated public policies despite a shift in public opinion. This program is presented in three segments: Beneficiaries, Bureaucrats, and Politicians. Participants include Richard Vigilante, Harry Crocker, Gary Jenkins, Lee Liberman, Steve Calabresi, David Brooks, and Carola Mone. It was recorded in 1983.

Listen to a 45-minute lively discussion featuring Dr. Walter Williams, Professor of Economics at George Mason University, Dr. William Stull, Chairman of the Economics Department at Temple University, and Dr. William Dunkelberg, Dean of the School of Business & Management at Temple University. Originally Recorded: 1992

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, Friedman’s talk is “The Future of Our Free Society.” We live under government domination of the market economy. We have come a long way from a truly free economy. Consider the number of markets to which new firms do not have free access. Consider the erosion of expression for business people. Consider the plethora of government regulations American business must contend with. Can these trends be reversed? It is harder to repeal laws than pass …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, Friedman covers “Money and Inflation.” Inflation is blamed on many things, but it has only one cause. It is a monetary phenomenon. Inflation occurs when the quantity of money increases faster than the quantity of goods. Why does the money supply increase? Very often it does so to enable the government to pay its bills without raising taxes. There’s only one real cure for inflation. It is a cure that’s easy to describe but difficult …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the question asked is, “Who Protects the Worker?” Unions offer protection to workers in some situations, but union membership represents only one-fifth of the American labor force. And while some unions do benefit their members, it is generally at the expense of competing workers and frequently at the expense of the consumer. Government? Government provides some protection, but its efforts are minor. Some workers with only one possible employer—or with no possible employer— enjoy very …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the question asked is, “Who Protects the Consumer?” Consumer legislation doesn’t protect the consumer in the end. Rather, it benefits the consumer advocates, including reformers, special interest groups, and regulatory agencies. What does protect the consumer? Alternative sources of supply at variable prices are the inevitable result of international competition-free trade. Milton does not mince words when it comes to his perception of the matter, “These agencies, these regulations, these bureaucrats have not only picked …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the quality of public education in America today in many places is in a clear downward spiral. Dr. Friedman identifies the increasing centralization and bureaucratization of the educational establishment, which inhibits educators from seeing and responding to the needs of their “consumers” — parents and students; He also touches on our altered view of the relationship between the individual and society— the shift from seeing the individual as responsible for oneself to seeing the individual …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording, Friedman explores equality and freedom in the free enterprise system. If the government has the power and responsibility to promote equality of income, then how do we define the concept of equality? Jefferson, in his Declaration of Independence, meant equality before the law, a concept necessary precisely because people are not equal in tastes, values, or capacities. Later, equality came to mean equality of opportunity—the chance to run a fair race. Within a free-market system, both definitions …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the question asked is what is wrong with the welfare state? The welfare state is an attempt to “do good” with someone else’s money. The aim may be worthy, but the means are faulty. The problem is that you do not spend someone else’s money as carefully as your own. More to the point, it’s impossible to “do good” with someone else’s money without first taking it away from someone else. That implies coercion—the use …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the question is what is the role of government in a free society? If we are to define the role of government in a free society, we must first specify the needs a government is expected to provide. Defense from foreign enemies and protection of property, including the enforcement of private contracts, are clearly legitimate functions of government. But when we come to two other functions of government—providing a substitute for voluntary cooperation when it …

To celebrate the 40th Anniversary of Free To Choose, we are sharing some of Milton Friedman’s most compelling talks. In this original recording from 1978, the question asked is, “Is capitalism humane?” According to Milton Friedman, the question is irrelevant. Capitalism per se is not humane or inhumane; nor is socialism. If we compare the two in terms of results, it is clear that only capitalism fosters equality and works toward social justice. The one is based on the principle of voluntary cooperation and free exchange, the other on force of position and power. In a free economy, it is …

Critics of the free market system often point out that it is an unfair system due to it leaving some with wealth at the expense of oppressing others. What those critics often ignore is that exchanges in this economic structure are voluntary. Each side comes out of the interaction with their desired result. Since the seller is amassing wealth by helping others get the goods and services they need, isn’t that more moral than proposed socialist solutions? When it comes to the relationship between morals and economics, Dr. Walter Williams has this to say, “Unless you believe that there’s a …

Restraint and common sense, urges the inventor of the Ames Test, Professor Bruce Ames. He’s concerned with the exaggeration of the danger of chemical residues in the environment. Can these views be applied to other aspects of our lives? Originally Recorded:  1987

Join us for Part Two of the conversation between noted economist Friedrich Hayek and the founder of Free To Choose Network, Bob Chitester as they continue to discuss American thought and culture, and the ramifications of constant change in American economic and social policies. Listen to how the themes are still relevant today, despite being recorded in over 40 years ago. Originally Recorded:  1978

Does the United States shift its economic policy too quickly? Not allowing enough time for these policies to take hold may be leading to some unintended consequences. Join noted economist Friedrich Hayek and the founder of Free To Choose Network, Bob Chitester as they discuss just that, along with other topics. Originally Recorded: 1978

Today’s podcast is a conversation with William R. Allen, a former Professor of Economics at UCLA, and former host of The Midnight Economist radio series. Allen, intent on improving the quality of economic education, believes journalists, politicians, and most teachers don’t understand or choose to ignore the lessons of economics. He is also troubled by the well-intentioned efforts of businesses to promote free enterprise. Originally Recorded: 1987

Today’s episode is the second in our Conversations with the Framers Series, as Douglas Ginsburg, Federal Judge on the U.S. Court of Appeals for the D.C. Circuit, interviews historical reenactor Bill Robling, in character as Founding Father Benjamin Franklin. The discussion jumps from the Constitution to drawing comparisons between colonial life and today’s world.  Originally Recorded: 2020 

Today’s episode is a new recording in our Conversations with the Framers Series, featuring Douglas Ginsburg, Federal Judge on the U.S. Court of Appeals for the D.C. Circuit, as he interviews historical reenactor Dean Malissa, in character as Founding Father, General George Washington. This conversation takes a unique look at the process of drafting the Constitution, though Washington’s eyes, as well as a stark realization as to how those original intentions of the Framers have played out through history into today.  Originally Recorded: 2020 

Listen to the conclusion of this conversation between two of the most influential economists over the last half-century, Friedrich Hayek and James Buchanan. Centered around the American Constitution, some of these views remain as controversial now as they did when it was originally recorded, over forty years ago. Originally Recorded: 1978

Two of the greatest economic minds over the past 50 years, Friedrich Hayek and James Buchanan, sound off in Part 1 of this 1978 recording covering the American Constitution, the role of government, and several other topics. Hear their unique perspectives that still resonate within our society over 40 years later. Originally Recorded:  1978

A lot has changed in healthcare since this 1993 recording, but the resounding problems have remained alarmingly similar: soaring costs, millions uninsured, and more questions than answers. What role should the government play? And which policies have done more harm than good? Listen in with Rita Ricardo-Campbell, Senior Fellow at the Hoover Institution, and Kevin Hopkins, Senior Domestic Policy Aide during the Reagan Administration, in today’s discussion. Originally Recorded: 1993

How does the rule of law evolve? Are changes to our society spontaneous, or are they organized with an endgame in mind by government? Join legendary economist Friedrich Hayek and Tom Hazlett, then a graduate student in economics, to discuss that subject in this conversation. Originally Recorded: 1978

When the Iron Curtain fell, Eastern European countries were left with the monumental task of building their governments and economies nearly from scratch. In today’s podcast, hear Robert Ebel, International Government Finance Economist, Milton Friedman, 1976 Nobel laureate in Economics, and Tom Hazlett, then Editor-in-Chief of The Wesleyan Review, discuss the pitfalls and triumphs of privatizing what were once solid socialist countries. Originally Recorded: 1993

Today’s podcast, originally recorded in 1978, is a discussion between legendary economist Friedrich Hayek and then economics graduate student Jack High. During the conversation, Hayek talks about his major influences in economics as well as his upbringing in the social sciences. As they dive into Hayek’s philosophical and professional development, they touch on famous names from history such as John Maynard Keynes, Ludwig von Mises, and George Stigler. Originally Recorded:  1978

Today’s podcast is a conversation originally recorded in 1994 about the teaching of sexual legal issues in law schools around the United States. Richard Posner, former Chief Judge of the United States Court of Appeals, Larry Lessig, former Assistant Professor of Law at the University of Chicago, and Tom Smith, former Director-General of the Social Survey at the National Opinion Research Center at the University of Chicago consider the long-term implications of the subject. Originally Recorded: 1994

This conversation between legendary economist Friedrich Hayek and former economics writer Elaine Carver Leijonhufvud includes an intimate look into the life of Hayek as a young man. During the discussion, the two talk about Hayek’s memories of traveling to America as well as his perception of the tension between religious and scientific thought. Originally Recorded: 1978

Physics is a complicated field, but when you start talking about the smallest particles we know of, things become even more complicated. Discover some of the guiding principles of the world of atomic particles and learn more about the complex systems in the human body. Former Nobel Prize winner in physics, Dr. Philip W. Anderson, and Princeton University Professor Shivaji Sondhi discuss the topic in today’s podcast. Originally Recorded: 1999

Today’s podcast features a conversation between former Professor of Economics at UCLA, Axel Leijonhufvud, and famous economist Friedrich von Hayek. During the discussion, the two converse about the people that influenced Hayek’s work and thoughts, eventually diving into social and economic trends as well as monetary theory. Hayek expands on his earlier days as a student, and a young man, identifying the people who shaped his thinking on the world. He also talks about what type of literature helped to push him in the field of economics, and if he had any conflicts with other intellectuals’ views at the time. …

This episode of the Free To Choose® Media Podcast features three prominent intellectuals in the field of neuroscience. Dr. Timothy Tully, former Senior Staff Investigator at the Cold Spring Harbor Laboratory, Dr. Eric Kandel, former Senior Investigator at the Howard Hughes Medical Institute and 2000 Nobel Prize winner in Physiology/Medicine, and Dr. Patricia Goldman-Rakic, Professor of Neuroscience at the Yale University School of Medicine. They discuss the results of their experiments on short- and long-term memory while discussing the history of our knowledge of the topic. Originally Recorded: 1993

Today’s podcast features former United States Court of Appeals, Seventh Circuit, Judge Richard Posner, and former Nobel Prize winner Gary Becker. The two use their time to discuss the challenges confronting those who apply market analysis to social questions. Using examples like drug use, sexually transmitted diseases, and addiction, they discuss the possibilities of using economics to solve these problems while thinking about the government’s role in dealing with them. Originally Recorded: 1994

Today’s podcast is the second of a two-part conversation, originally recorded in 1978, between former Professor of Economics at UCLA, Armen Alchian, and famous economist Friedrich von Hayek. Continuing from last week’s episode, the two talk further about Hayek’s economic history and background with unique personal and professional stories from his past. Hayek discusses his interests in Adam Smith and his personal relationship with John Maynard Keynes. He also discusses several of his books and his work habits, both reading and writing. Originally Recorded: 1978

Today’s podcast is the first of a two-part conversation between former Professor of Economics at UCLA, Armen Alchian, and famous economist Friedrich von Hayek. This conversation provides a uniquely personal and entertaining look on Hayek’s life and works as they dive into past events and relationships Hayek formed along the way. Originally Recorded: 1978

This 2006 conversation between former Secretary of State George P. Shultz and the founder of Free To Choose Network, Bob Chitester, takes a deeper look at Shultz on a personal level. Throughout the conversation, Shultz speaks about his hobbies, childhood, parents, and upbringing through high school. Shultz talks about his interests in high school as well as how he got into economics, ultimately leading him to his career in government. Originally Recorded: 2006

This 2006 conversation between former Secretary of State George P. Shultz and previous Nobel Laureate winner Gary Becker takes a hard look at the politics behind several economic areas from the International Monetary Fund to energy. The two discuss Shultz’s view on these important areas, including Shultz’s personal views on the establishment and role of the International Monetary Fund and what can be done to start shifting the country off of oil dependency. As they continue, they move into the area of the politics of immigration and what Shultz views as potential solutions to some of the problems caused by …

This 2006 conversation is the ninth of eleven conversations with former Secretary of State George P. Shultz and features former Stanford University Hoover Institution research fellow Robert Conquest. This conversation includes an intimate look at U.S. relations with the Soviet Union during the Reagan era. Throughout the discussion, the two share stories from the past and delve into more recent relations between Russia and the United States at that time. Originally Recorded: 2006

This podcast, the eighth of eleven conversations with former Secretary of State George P. Shultz, features Shultz and former Assistant Secretary of State for African Affairs Chester Crocker. Originally recorded in 2006, the conversation centers around the importance of individuals in influencing history. The two discuss what an individual can contribute within a framework of abstract forces such as technological development and economics. Shultz discusses his views on an individual’s impact relating it back to his years with Ronald Reagan. As they talk, the conversation moves into how these factors impact the global movement towards more open societies. Originally Recorded: …

This conversation with George P. Shultz is the seventh of eleven conversations with the former Secretary of State. Originally recorded in 2006, Shultz speaks with a former National Security Council member and colleague in the Reagan administration, Richard Pipes. During the conversation, the two talk about their time in the administration and specifically discuss how they feel their time impacted world history. Shultz shares insight into Reagan’s conversations with Mikhail Gorbachev while discussing several issues such as divisiveness in the U.S. at the time and Shultz’s activities as an emeritus professor. Originally Recorded: 2006

In this 2006 conversation, the sixth in a series of eleven, former Secretary of State George P. Shultz talks with former State Department legal advisor Abraham D. Sofaer. Having been colleagues in the Reagan administration, the two discussed their years together and talked about Shultz’s 1984 speech on terrorism. They further investigated what it means to be prepared to use force in defense of the country, and used personal examples from the Reagan era to illustrate the concept of self-defense in preventing international terrorism. From Iran to Lebanon and Syria, follow along as the two talk about how the Reagan …

Former Secretary of State George P. Shultz and former Stanford Professor Emeritus Henry Rowen discuss foreign policy and national security, particularly the organizational question of the proper roles of the State Department and the White House in running U.S. foreign policy. Shultz begins by detailing his experiences at the State Department and how they worked inter-departmentally with other areas of the government. The discussion then moves on to individual people and their roles within the administration at the time. Shultz continues to expand upon how the government grooms candidates for positions who end up in various companies outside the government …

In this wide-ranging conversation, former Secretary of State George P. Shultz and Economist David Friedman discuss the ways in which the world – especially the world of ideas – has changed over Shultz’s lifetime. This discussion dives into the ways in which peoples’ understanding of concepts like socialism are not what they were in the Cold War era. Using personal experiences, the two discuss the changing perceptions in the world about property rights, the role of government and even marriage. Originally Recorded: 2006

Former Secretary of State George P. Shultz and Hoover Institution Fellow Shelby Steele discuss Shultz’s role as Secretary of Labor in the Nixon administration. Shultz also further reveals personal experiences in the Reagan administration that formed his thinking on civil rights and discrimination. As the discussion carries on, Shultz describes the difficulties he had in the Nixon administration dealing with race and immigration. As Shultz says during the discussion, “It’s a big problem because we’re a welfare state and people come to the health system. They come to the welfare payments and not just to work and that’s an issue. …

In this conversation with his granddaughter, Kelly Shultz, former Secretary of State George P. Shultz talks about his goals when he was her age and about to enter Princeton. They discuss family gatherings, his experiences as a young Marine, and the important lessons learned in sports. Originally Recorded: 2006

Today’s Free To Choose Media podcast episode features a conversation with former Secretary of State George P. Shultz. Shultz speaks with University of Chicago Law Professor Kenneth Dam and talks about his long and varied career in academia, government and business. During the discussion they expand upon Shultz’s views on terrorism, negotiation, Israel/Palestine, and the connection between open political systems and open economic systems. This personal talk dives further into Shultz’s experiences with the Reagan administration and what has transpired since his time as Secretary of State. Originally Recorded: 2006

The lines between science fiction and science fact are beginning to become strangely blurred. Technology is rapidly catching up to the stuff of imagination seen in movies. Could the confirmation of life on another planet be next? That question, and the research into it, have moved more into the mainstream over the years. Have we even invested the correct technology to connect with another civilization? What would happen if we ever did make contact? Nobel laureate, Dr. Charles Townes lays out the effect a first contact could have on humanity, “This is the thing that many people argue that well …

“Will Social Security be around when I’m old?” It’s a question that has been asked and sparked countless discussions for decades. As the years go by, the numbers change but the discussion remains the same. Is there a model already in place that will allow payers to see an actual return on their money? Or will we just keep finding ways to rob Peter in order to pay Paul? Originally recorded in 2003, Economist Casey Mulligan says that one solution, privatization, is not simply a catch-all term as believed by some, “Well, there’s two kinds of privatization I like to …

An open marketplace plays a part in more areas than most people realize. The role is often overlooked in the areas of segregation and discrimination. Supporters of free markets support the right to associate with whoever you wish, while at the same time abhor individual liberties being taken away based on race or an association to other groups. So where is the line? Can the two ever truly within a free market, absent of coercion? Originally recorded in 1987, economist Jennifer Roback had studied the economics of discrimination for years. What role does the free market have in alleviating discrimination? …

Individuals act on self-interest. No, that doesn’t mean that people are only motivated by selfish materialism. It comes down to an understanding that actions made today will have consequences tomorrow. Those decisions drive our economy. They are based on the best choices someone can make today, which will provide the best future for themselves and their loved ones. So where do charity and altruism fit into that economic worldview? Nobel laureate Dr. Gary Becker says they play into each other more than people think, but an important distinction should be made, “Even a bunch of selfish individuals, under appropriate circumstances, …

We’ve all read a bad novel at one point or another. You’ve probably thought to yourself that you could do better. Well, you’re not alone. Writing a full novel can be a painstaking and time-consuming process. It’s more difficult than people think, but not impossible. Have you ever wondered exactly what goes into writing some of your favorite novels? The frustrating, satisfying, and therapeutic properties of the writing process are all covered by a panel of authors in this week’s podcast. Author, Joe McNamara explains how his personal experiences fueled his writing, “My characters were able to say things about …

While individuals remain the ultimate units within a society, their organization into families is often overlooked, even sacrificed. Human beings are social in nature and depend upon one another for survival. Nowhere else is this more evident than with the upbringing of children. Is it possible that by promoting the rights of some, while sacrificing the right of others, the family unit is suffering? Journalist Midge Decter thinks so, but that does not mean the end is near. “Because sometimes to tell the truth and we all know it, families can be a royal pain in the neck, but because …

How life on our planet started and where it is going is an uncertainty that continuously plagues scientists. Even as science moves forward, the topic is ripe for exploration and discussion. Divine intervention, the luck of the draw, or a chain of repeatable chemical reactions? What are the forces that established life on Earth? What are the forces that drive it today and where can we expect it to go from here? The topic clearly lends itself to more questions than answers. Nobel Prize winner Christian de Duve attempts to answer these questions, “I don’t think something as complex as …

European countries in the Eastern Bloc were faced with a dilemma after the fall of Soviet Russia. They were tasked with transitioning from a centrally planned economy to a market-based one. That proved more difficult for some than for others. How quickly those countries should make the transition was also a hot topic of debate. Gently nudge the economy along, or rip off the bandage and change everything all at once? Nobel laureate Gary Becker lays out his main reason to fast-track the process, “In any country when you experience rapid change, the window of opportunity to make major changes …

What is the legitimate role of government in a free society? Most agree that there is one, albeit small. The Constitution lays out these roles, but they are ignored and trampled on year after year. Laws are passed, programs are implemented, and taxes are collected all in the name of progress. Yet most conflict directly with the liberties granted and restrictions imposed by the Constitution. The problem is not going away and seems to be getting worse. History is on our side. When governments have overstepped, the results have not been kind. Dr. Walter Williams puts these concerns in an …

Is there a more market-based approach to government? Regardless of the outcome of elections, there seems to be a growing number of Americans who are dissatisfied with the result no matter which party is in control. Congressional control flips at a rate you can nearly set your watch to. What are Americans looking for? They’re looking for another way. They’re looking for a solution that the two-party system cannot provide; a choice of candidates that doesn’t force them to sacrifice a portion of their principles. Former CATO President, Ed Crane sums it up, “In my view, there’s a huge disenfranchised …

Where do science and culture meet? The rise in popularity of science fiction has shaped popular culture as of late, but remains a source of controversy in society as a whole. This divide traces back to the days when religion, not necessarily evidence, ruled the day. Still, after all this time, science is treated as an evil by some as opposed to a basis of rational thought. Why? With how far we have come since the days of Galileo and DaVinci, why is science still treated with disdain or indifference by some? Gregory Benford, Professor of Physics at UC Irvine …

It’s impossible to predict the behaviors and actions of any one individual. So how can economists ever hope to understand the effects a shift in policy will have on the consumers within the economy? While individuals behave irrationally, groups give us more insight into understanding behavior and the impact those decisions will have on economics. For economist Gary Becker, one of those fundamental groups is family, “One of the things that families do is to care for their children, to invest in their children, to teach their children morals, skills, and other forms of behavior. Human capital deals with the …

With a human population larger than any point in history, we are consuming more natural resources than at any point in history. So, how can we ever expect to maintain this pace without running out of resources? As it turns out, the people who seriously sound these alarm bells are forgetting one thing. Throughout history, bigger problems have produced bigger solutions. Had those initial problems never arisen, neither would have the solutions. As noted scholar Julian Simon put it, “We need our problems. In some fundamental way we need bigger and better problems. That’s not to say we should run …

What is liberalism? What is conservatism? The divide between the two opposing ideologies has widened recently, but why? It may have to do with the two sides not only believing that they are right, but believing they have the duty to impose their views on the other half. We’ve moved from an era from which politics and religion were separate. Now, we are walking the border of politics becoming religion. Will that shift result in a culture war, or are we already there? As theologian Dr. Kenneth Craycraft Sr. puts political ideology in terms of religion, “The problem is that …

Humans are irrational beings. Choices differ from person to person, and even from lab experiments to the real world. So, with all that differentiation, how can economists expect to understand how market forces will impact the decisions that individuals make? It turns out that most individuals go about making decisions the same way, but the results of these decisions vary wildly. Nobel laureate Gary Becker attempts to explain how that process works, “To me, maximizing utility simply means the following: that consumers can order all the opportunities they have available to them…possible choices. They can order them so they prefer …

The vast majority of people agree that we should be doing what we can to help protect the environment, but are we doing it the right way? Regulations may be based in science, but they’re created by bureaucrats with only one singular focus. Whose job is it to look at the impact of these regulations on a larger scale? And is the situation being presented in a way to intentionally scare the public? Dr. Walter Williams would say so, as well as professor of environmental science Dr. Fred Singer, “We have in the federal government, agencies that look at things …

The Federal Reserve was originally created to bring stability to our financial and monetary system. However, despite multiple failures, it has widely escaped criticism. There is a myth that the Fed is there to protect us. But upon closer inspection, does it? If you ask Nobel laureate Dr. James Buchanan, the answer is clear, “The Fed more or less just inherited this legacy of being a monopoly in control of a monetary institution. It’s not a constitutional body. It has never been explicitly examined legislatively. And yet it gets away with all this without any criticism because the criticism is …

When the Soviet Union collapsed, countries in the Eastern Bloc were faced with a huge challenge. They needed to take their socialist societies and convert them into capitalist ones. How did they change a country where most property was state-owned into something that was based on private property? Each country handled it differently and the results are not surprising. Despite these challenges in the early 90’s, Milton Friedman remained optimistic, “The hopeful thing about this is that the inefficiency of the former system is so great that the new system can make great progress even though they have very inefficient …

What can nature teach us? It’s a question that mankind has investigated since the beginning of time. We’ve learned so much, but there’s still even more that we don’t know. That’s why people like David Attenborough dedicate their lives to studying the world around us. The lessons that David has learned over the years have filled multiple hours of television programming and even more publications and writings. One particular opinion of his, on the role of zoos in our society, stands out in today’s focus on the ethical treatment of animals. “I think the zoos have two very important functions.  …

Critics of the free market system often point out that it is an unfair system due to it leaving some with wealth at the expense of oppressing others. What those critics often ignore is that exchanges in this economic structure are voluntary. Each side comes out of the interaction with their desired result. Since the seller is amassing wealth by helping others get the goods and services they need, isn’t that more moral than proposed socialist solutions? When it comes to the relationship between morals and economics, Dr. Walter Williams has this to say, “Unless you believe that there’s a …

Government regulation is a force that influences nearly every aspect of our daily lives. The intentions are usually well-meaning. They are created to fix a problem or a perceived market failure. The problem that we run into time and time again is that the fixes usually create another problem, while only putting a temporary patch over the initial problem. The response is usually another patch with the same result. In the words of Nobel laureate George Stigler, “The trouble is that normally the way (advocates) want to solve the problem is to create either a new agency, or a new …

What is money? For thousands of years currency was tied to a commodity, if the commodity itself wasn’t actually exchanged. Today, that relationship has drastically been altered. Money, as a human institution, has evolved from having a real value to only having a perceived value. Milton Friedman traces it back to one specific date. “It’s seldom that you can date precisely when there’s a major change in a human institution let alone in a monetary institution. But you know it’s an interesting fact that you can date precisely a really drastic change in the character in the monetary system around …

Are science and religion incompatible? It’s a conversation that tends to get heated very quickly. Science has answered several of our questions about the universe, but the theological debate keeps returning to one point, the beginning. As you could expect, a balanced discussion on the topic eventually leads to more questions than answers. “How the earth formed, how life arose from the earth, how man evolved. All of that is explainable in a very satisfying way. Does that prove that God does not exist? The trouble with drawing that conclusion is that when you step back to look at the …

What effects did world events, such as world wars and depression, have on the economies of nations such as Germany, and the former Soviet Union? As hyperinflation raged, the real value of currency in these nations became a question mark. Countries today are still ravaged with the same problem. As revolutions erupt and regimes change, the effect on purchasing power is hard to ignore. How can the problems of “out of control” inflation be solved? As Milton Friedman describes the issue, “Country after country has seen its monetary system blow up in its face, and subsequently, it’s had to do …

Money, wealth, and capital can move around the world in mere seconds. Within any economic structure, capital is the building block of prosperity. With relatively new ease of access to resources, how has that changed our society? Developing nations no longer need to start from scratch, or wait long periods of time to meet demand for certain items. This has fundamentally changed what is considered capital along with the way our world and our governments function. Author and Professor Richard B. McKenzie puts it in these easy to understand terms, “The big difference is not so much the need for …

Despite general agreement on the academic theory behind economics, the implementation of those findings into society usually leads to disagreement. There are simply too many variables within a society to achieve a consensus. So with the unpredictable nature of individuals, how can economists even begin to predict the results of their theories? Milton Friedman reflects on his process, “What we insist on is that you’re not able to predict random, irrational behavior. And therefore, the only kind of behavior that you can hope to predict is behavior that has some regularity. One individual may behave any way at all. But …

Welfare programs are often touted as the saving grace of those living in poverty. But, as with any governmental program there tends to be unintended consequences despite noble intentions. How have welfare programs changed the overall culture of those living in poverty? It’s a question that most people have never posed to themselves. Social scientist Charles Murray has researched that very question for years. He poses that these programs have changed the perception of those who have money and those who work hard. “One of the most tragic things that you encounter are the stories of the 16-year-old who goes …

Reforming healthcare is something that only gets more complicated with time. Rising costs, increased government involvement, and complex insurance policies only compound the problem further. These are problems that have been going on for decades with no clear resolution. But, what about looking at healthcare from an economic standpoint? Can market forces solve the problem? Noted economists Milton Friedman and Alain Enthoven once sat down to discuss exactly that. The start of the problem, they found, came when employers became primarily responsible for providing healthcare. What started off as government price controls has evolved into the system we have today …

What is the most basic unit of our society which our values and norms are built around? For James Buchanan, that unit is the individual. It was his view that individual liberty should be the fundamental building block of a society. Laws and systems should be built around the protection of those individual rights in an effort to preserve liberty. His research and ideas won him a Nobel Prize in 1986, but underwent a transformation over the years. “I didn’t understand- had no understanding at all- of how the economy works or how the market works. I’ve often referred to …

The court system of the United States is supposed to protect and uphold the Constitution, regardless of personal beliefs. Increasingly, over the past few decades more and more rulings seem to fall on the side of those individual beliefs, rather than what is written under law. This type of judicial activism is in direct conflict with what the court system is meant to be. Our government is founded on a system of checks and balances, but when a court has the final decision, who holds them in check? After decades on the bench, Former Solicitor General of the United States, …

Join American economist and columnist Walter Williams as he discusses what influenced his unique, and often controversial, perspectives on economics. Williams is a unique thinker. Despite being African American he opposes the minimum wage, affirmative action, and believes the welfare state has done far more harm than good for those living in poverty. Although those views are major parts of his philosophy now, he didn’t always hold those views. As Walter Williams says about one of those revelations, “I thought that the minimum wage like many, many other Americans who have not really thought about it, was a really good …

We live under government domination of the market economy. We have come a long way from a truly free economy. Consider the number of markets to which new firms do not have free access. Consider the erosion of expression for business people. Consider the plethora of government regulations American business must contend with. Can these trends be reversed? It is harder to repeal laws than pass them. Private business is unfortunately shortsighted when it turns to politics. But count among the favorable signs the very inefficiency of government—and the American public’s growing recognition of this fact. Business can do relatively …

If the government has the power and responsibility to promote equality of income, then how do we define the concept of equality? Jefferson, in his Declaration of Independence, meant equality before the law, a concept necessary precisely because people are not equal in tastes, values, or capacities. Later, equality came to mean equality of opportunity—the chance to run a fair race. Within a free market system, both definitions are consistent with other values: Efficiency, justice, and liberty. More recently, equality has come to mean equality of outcome. Equality of outcome cannot be mandated, cannot be insured. Any serious attempt to …

Unions offer protection to workers in some situations, but union membership represents only one fifth of the American labor force. And while some unions do benefit their members, it is generally at the expense of competing workers and frequently at the expense of the consumer. Government? Government provides some protection, but its efforts are minor. Some workers with only one possible employer—or with no possible employer— enjoy very little protection. The right answer to the question “Who protects the worker?” is that the worker is protected by employers; by the existence of other employers who can and will compete for …

Consumer legislation doesn’t protect the consumer in the end. Rather, it benefits the consumer advocates, including reformers, special interest groups, and regulatory agencies. What does protect the consumer? Alternative sources of supply at variable prices are the inevitable result of international competition—free trade. Milton does not mince words when it comes to his perception of the matter, “These agencies, these regulations, these bureaucrats have not only picked our pocket but they have left us less well-protected than we were before. When we as consumers really need help, we will find the self-styled consumer advocates conspicuous by their absence. Now let …

The quality of public education in America today in many places is in a clear downward spiral. Dr. Friedman identifies the increasing centralization and bureaucratization of the educational establishment, which inhibits educators from seeing and responding to the needs of their “consumers” — parents and students; He also touches on our altered view of the relationship between the individual and society— the shift from seeing the individual as responsible for oneself to seeing the individual as someone controlled by social forces. An obvious solution is to give power back to the parents. Could the voucher system be a means of …

It is believed by some that increasing government involvement in medical care will take us toward fully socialized medicine. This trend is clearly against the interests of patients, physicians, and other health care personnel. There is of course, no such thing as “free” health care —you either pay for it directly, or via the tax system, with bureaucrats taking their usual cut along the way. The reality of the situation is that government involvement in the economics of medical care leads directly to higher costs for that care. Is there a special role for government in medical care? As far …

It’s pointless to try to predict the availability of adequate sources of energy. What we need is an adjustable mechanism to enable us to adapt to whatever happens. We already have such a mechanism. The market helps us make transitions to the future—just as it has done in the past— if it is allowed to operate freely. Our prospects will be much improved if we can devise means to abolish —or at least work around—the government controls that interfere with the production and distribution and use of energy. It’s not a problem unique to energy, as Milton says, “The problem …

If free trade is so good, why is protectionism so popular? Part of the answer lies in a simple political principle — interests that are concentrated (those of the producer) are more politically effective than interests that are diffused (those of the consumer). Protection does not create jobs or move goods; rather, it forces us to expend greater effort to get the goods we produce, since they cost more to produce at home than abroad. The balance of payments can take care of itself, provided we do not manipulate foreign exchange markets to put an artificial value on the dollar. …

Why do Americans pay more in taxes than they really want to? Can they do anything about it? Americans must understand that their true tax burden is what the government spends, regardless of how that spending is financed. If government spending goes up faster than prices in general, the real tax burden increases. Simplifying the system is far from easy, but the real defect is not in the tax system anyway, but in the budget structure. Our only hope for tax reduction is in establishing constitutional provisions that will set limits on government spending. Nonetheless, spending keeps increasing despite growing …

Inflation is blamed on many things but it has only one cause. It is a monetary phenomenon. Inflation occurs when the quantity of money increases faster than the quantity of goods. Why does the money supply increase? Very often it does so to enable the government to pay its bills without raising taxes. There’s only one real cure for inflation. It is a cure that’s easy to describe but difficult to apply. The government must reduce spending and print less money. The alternatives are both recession and double-digit inflation. In Milton Friedman’s own words, “Inflation is a disease. It’s a …

The welfare state is an attempt to “do good” with someone else’s money. The aim may be worthy but the means are faulty. The problem is that you do not spend someone else’s money as carefully as your own. More to the point, it’s impossible to “do good” with someone else’s money without first taking it away from someone else. That implies coercion—the use of bad means to corrupt the good ends of the welfare state. Welfare programs implicitly encourage competition for government funds and create unfortunate divisions and antagonisms in our society that erode individual freedom. We must find …

If we are to define the role of government in a free society, we must first specify the needs a government is expected to provide. Defense from foreign enemies and protection of property, including the enforcement of private contracts, are clearly legitimate functions of government. But when we come to two other functions of government—providing a substitute for voluntary cooperation when it appears impossible to achieve, and providing for irresponsible individuals— the justification is much less clear-cut. In a free society people should be able to take risks but should not be able to force others to pay the consequences. …

Is Capitalism humane? According to Milton Friedman, the question is irrelevant. Capitalism per se is not humane or inhumane; nor is Socialism. If we compare the two in terms of results, it is clear that only capitalism fosters equality and works toward social justice. The one is based on the principle of voluntary cooperation and free exchange, the other on force of position and power. In a free economy, it is hard to do good. You either have to use your own hard-earned money to do it or work hard to persuade others to your course. But by the same …

According to Milton Friedman, five myths cloud our perception of both the past and the present. (1) The “robber baron” myth which holds that in late nineteenth-century America there were powerful men who became rich at the expense of the poor. The reality is that they became wealthy by being productive, and that there is no other period in history which saw such a rapid and widespread improvement in the well-being of the average individual. (2) The myth that the Great Depression was caused by a failure of business. It was, in fact, produced by a failure of government and …

Is America still the land of opportunity or is it a land worn thin showing much bureaucracy and less freedom? Dr. Friedman’s view of America’s present situation is not sanguine. He identifies the chief problem and its corollary solution: We must restore the prestige and influence of the single mechanism most responsible for America’s greatness— the free market. Our greatest defense against becoming over-governed is the free market. In the words of Milton Friedman, “(I ask) whether America is the land of opportunity which produced over the past two hundred years the greatest freedom and prosperity for the widest range …