Free To Choose 1980 - Vol. 09 How to Cure Inflation - Full Video
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- Опубліковано 11 бер 2019
- Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a ''token'' of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem. Friedman visits Japan, U.S. and Britain. Discussion Participants: Robert McKenzie, Moderator; Milton Friedman; Congressman Clarence J. Brown; William M. Martin, Chairman of Federal Reserve 1951-1970; Beryl W. Sprinkel, Executive Vice-President, Harris Bank, Chicago; Otmar Emminger, President, Ieutsche Bundesbank, Frankfurt West Germany.
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Intellectual conversations amongst very intelligent individuals without any loud music or frivolous screaming.
There's a reason our govt would never allow someone like Mr. Friedman be the head of the federal reserve.
Because it would be too smart
Forty years later. Federal spending, deficits, debt have all got worse.
23:47 how to stop inflation
jerome powell and janet yellen should be forced to watch this 10x a day
Hearing this chapter, as an Argentinian is incredible clear the results of inflation produce in a county. We must cut off government greed.
Inflation simply canNOT happen without an increase in the money supply. Full stop.
Spent two years in West Berlin from '85 to '87, so I am a witness to the conditions Milton Friedman talks about in this film. What is happening in the U.S. today is what I witnessed over that wall. Exchange from $ to Mark 1 to 3.5 from west Mark to East 1 to 11, (1 U.S Dollar = 34 East Marks) My wife and I agree, the West Berliners had more freedom than what we see in the states today and because of that, the West Berliners had more economic growth and mobility.
This should be in every school anually played for all students & teachers. But the education monopoly want to retain their monopoly & they can't take the risk of educating the people.
28:00 Is when the panel debate begins, amazing to listen to, good points made by all.
This is gold.
Best episode in the whole series! Very educational discussion
It's sadly hilarious to watch this in Argentina, where we do the opposite of everything said
Inflation 1980, inflation 2023 ? less government spending is the only key!
cut spending from the government.Thank M.Milton Friedman , Thank Otmar Emminger, President, Ieutsche Bundesbank.
Thank you for sharing this series.
In 1981-1982 the Fed did stick with a monetary squeeze and did bring inflation down from double digits to about 4% from 1983-1988. There was a brutal recession in 1982, when unemployment increased to nearly 11%, but the recovery was very strong starting in early 1983.
There was a brief spurt in inflation to about 6% in 1989; I got a CD in early 1989 and the rate was over 10% when interest rates where high to bring inflation down. There was still an inflationary premium on interest rates, expectations that inflation could come roaring back. In the mid-1990's concerns that high inflation could return were finally beaten, and interest rates have remained generally low since then, along with inflation.
Someone should send this video to JPowell...
Excelente programa 👍. Un fuerte abrazo desde México
Are there even guys like this anymore? What happened to intelligent leaders?
“Never taken!” hahaha
They essentially argued we can't limit the money supply because we have to maintain the government but dam the people.
Millions and millions of students across America would benefit greatly by watching this. Unfortunately, they are busy watching smarts, pornography, conspiracy, theories, and frivolous entertainment.
Well it looks like it's time for this to make into the households again.
It no wonder we not have interviews likes this anymore. This information can make a mofo think.
Truth!
And then he did it. Mad dog. He wasn't the greatest libertarian. But unlike most he actually got something done.
Monetary policy, Milton's only weakness and...foreign policy...still he was on the right path
What would he think of today's Federal Reserve actions?
Jorgenson/Cohen 2020
Here during historic Biden inflation
End the fed
Funny that Milton uses Japan as an example. There has been no nation in history that has expanded the money supply faster. There has been no nation that has experienced deflation for so long while doing so, barring the last few years. Nixon's policy failed miserably. Inflation is a monetary phenomenon, but it is much more complicated as we look at the weighted average of costs for goods and services that make up the standard of living of a society.
Make union dues optional - GDP increases because people will buy items + pay bills rather than pay union dues 😮.
"I paid $6,000 in taxes and have $12,000 to live on. Now that may seem like a lot of money..."
Uh, no actually it doesn't. That seems ridiculous.
You know when American politicians decided they can do without economists to declare a war? After all, how many economists think war is profitable? GDP please! The last thing they want is depopulation as a form of inflation.
Say how tobacco impacted the democracy. Similar to black tea. Example? Abolition of slavery. Now add umbrellas on top of it, and you have a total equality. #Equality
You know when America advertises itself as a civilized country? How long is this going to last? I understand "Lately we had issues". This lately ended up with Donald Trump for president. I say, unless you educate your people on Constitution, delete da hell out of it. Burn it if anything!
The bug in the free market ideology: financial elites perpetuate political corruption and the innavitable monopolies that result from "free markets". We see this in the disastrous concentration of wealth today.