Milton Friedman: The Power Of Choice
As I mentioned earlier, today is Milton Friedman Day. Tonight at 10pm, most PBS stations around the country will broadcast a new documentary about the life and ideas of Milton Friedman called The Power of Choice:
Rising like a phoenix from a troubled past, entrepreneurs have turned Chileâ€™s rich Colchagua Valley into one of the worldâ€™s great economic miracles. Chilean wines now compete in the world market. Wine and ingenuity have made Don Melchor a very wealthy man. But if you think Chile is an unlikely locale for entrepreneurial success in the 21st centuryâ€”consider Estonia, until recently part of the Soviet Union.
Economies all over the world are feeling the impact of free markets.
The world of the 21st century is a world of international markets interconnecting people everywhere â€”people who have never met, yet inadvertently have become integral to each otherâ€™s well being. The genie is out of the bottle. Every minute of every day products from all over the world are moving in perpetual motion.
For over 30 years the United States military has operated as a 100 percent volunteer force. To be successful it must offer attractive choices. The army alone now offers some 300 distinct career paths to attract young men and women to a professional life in the military.
All of these things reflect the economics of choice, the economics of individual freedom that have changed and are continuing to change the world in which we live. Still, individual freedom of choice can spark heated protest in the United States and around the world.
And, courtesy of YouTube, here’s a preview:
Definitely worth watching.