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 They examine those factors which have worked to maintain outdated public policies despite a shift in public opinion.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 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 little to reverse this trend (though it can at least become more sophisticated and farsighted in political planning), but business people as individuals, as citizens, must seek to persuade the public that we are already on the road to a collectivist state, that if we continue it, we will lose prosperity and liberty. In Milton’s own words, “Make no mistake about it: human freedom cannot exist – human freedom has never existed-without a viable, healthy, free-market economy. And that is what is being destroyed. That is what is being destroyed as much by its alleged friends, as by its announced enemies. This country remains predominantly a free country; it remains the freest major country in the world. There are some minor countries that have a greater degree of freedom, but among the major countries, we remain the real stronghold of freedom. And yet, it is worth taking a few moments to look at how far we have come from a truly free economy, a truly free society.” So how far have we come? Find out in the podcast, Milton Friedman Speaks – “The Future of Our Free Society.” It was originally recorded back in 1978.

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 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 dangerous disease for a society. It is sometimes a fatal disease for a society. It’s a disease that if allowed to rage unchecked can destroy a society, and we have many such examples…it behooves us as a nation to pay attention to this disease, to ask ourselves what is the cause of the disease, how do you cure the disease, what are the effects of the cure, what are the side effects of it, and what will happen if we don’t cure it?” So, what is the solution? Hear Milton’s take on the problem in the podcast, Milton Friedman Speaks – “Money and Inflation.” It was originally recorded back in 1978.

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 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 his or her services if a present employer fails to provide decent wages and working conditions. The only real way to protect the standard of living of the American worker is to preserve a freely competitive labor market. So where did these protections come from in the past? As Milton put it, “It could not very well have been unions that were protecting the worker, since there were almost no unions… It could not have been the government that was pro­tecting the worker, because over that period government was very small. So it could not conceivably have been the government that was protecting the worker. Moreover, not only was spending low, but there was very little government involvement in the economy in any way. And it could not have been nobody who was protecting the worker, because that was a period of enormous progress for the ordinary worker.” So how are they protected, or do they even need protecting? Take a listen and find out in the podcast Milton Friedman Speaks – “Who Protects the Worker?” It was originally recorded back in 1978.

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 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 me emphasize that I’m not questioning the motives of the people involved. You know there’s an old saying that you all know about what it is that the road to hell is paved with. Intentions are one thing; it’s results we want to look at.” So what are the results? Take a listen in the podcast Milton Friedman Speaks – “Who Protects the Consumer?.” It was originally recorded back in 1978.