NICE! And still very timely. This message will resonate in America, if we continue to work hard to spread the word.
http://www.rightklik.net/

Unfortunately, Friedman advocated the absolute control of the government over the money supply. His attempted reconciliation of the Chicago School with the Austrian is interesting, and his public anti-Keynesianism good, but the Nixon administration "found him out" through Federal Reserve inflationary policies to offset the Vietnam war debt (wage and price controls) resulting (for example) in government lawsuits against McDonald's for attempting to raise the price of a Quarter Pounder by a nickel or 15 cents.

DJ, your plumb line should start with Ron Paul and the true Austrians economists (not fake) who predicted the current malaise (Peter Schiff, etc) years in advance. And no wonder; IOUs can only be stacked so high within the terrarium of a service economy which is essentialy planned.

Friedman was a planner. And sure, Friedman seems relatively sane today if your plumb line is based inside a St. Augustine roadside funhouse.

Peter Robinson wrote:

Over dinner with Milton Friedman several years before he died, I offered the great man a compliment. He refused it.

. . .

I told Friedman. "You've transformed the intellectual climate. You've won."

Friedman shook his head. "We may have won the intellectual battle," he replied, "but in practical politics, it's difficult to see that we've had any effect at all."

Government spending had continued to grow, he explained. After a pause during the Reagan years, regulations had once again proliferated. For a moment, Friedman grew silent. Then he looked at me.

"The challenge for my generation," he said, "was to provide an intellectual defense of liberty. The challenge for your generation is to keep it."

URL: http://www.forbes.com/2008/11/13/friedman-liberty-republicans-oped-cx_pr_1114robinson.html

Read the whole thing.

We are in big trouble.

So how is it again that Friedman's views on greed being the base motivator of human activity are relevant to the economic mess the world is enmeshed in ?

What struck me about the video is what a polite interviewer Donahue is. Can you imagine anyone being interviewed by Matthews, O'Reilly, Olbermann, or John Gibson being treated so respectfully?

Bruce Henry: I've never thought much of Phil Donahue, but you're absolutely right -- he asked his questions in a non-confrontational manner and then gave Friedman time to give detailed answers. I can't imagine blowhards like O'Reilly or Olbermann conducting an interview like this nowadays.

your plumb line should start with Ron Paul and the true Austrians economists (not fake) who predicted the current malaise (Peter Schiff, etc) years in advance.

Amen, brother. We wouldn't be in this mess if Republicats had embraced the Austrians as the true purveyors of free markets. The rest are poseurs. Accept no substitutes.