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Economics

Friedman Fundamentals

Friedman Fundamentals present the analytical mastery of Milton Friedman through his interviews, lectures, and presentations. This series brings together current research conducted by Hoover Institution fellows and the fundamentals taught by Friedman in a concise, animated format.

Free trade leads to more economic activity and greater standards of living.

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Bureaucracies administer the power of the federal government often at great cost to taxpayers.

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More school choice for parents and students is the surest way to improve school quality and promote innovation in education.

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Over the years, politicians have exploited the theories of John Maynard Keynes to increase deficit spending.

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Competition in the free market helps prevent the concentration of power.

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Unions obtain higher wages for their members by restricting entry into their occupations.
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The economic system that advances society the most enables individuals to take risks and accept the consequences.

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Freedom allows diversity to flourish, while diversity prevents monolithic conformity from being imposed.

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Societies that put freedom before equality will end up with a great measure of both.

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To limit government to its appropriate functions, we must tackle the explosive growth of federal spending. 

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When reformers create new regulations, they leave behind money and power that special interests benefit from.

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The greatest threat to human freedom is the concentration of power, often by the government.

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When people follow their own self-interest, they end up benefiting the public welfare.

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The historical threat to freedom is the concentration of power in the hands of the government.

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Tariffs are handouts to special interests at the expense of consumers.

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One of the great myths of free-market capitalism is that the rich benefit at the expense of the poor.

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The greatest period of charitable activity occurred in the 19th century, when government spending was small as share of the economy.

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In case after case, government programs adopted for good purposes have had the opposite effects.

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Milton Friedman explains why high tax rates lead to loopholes, and why low rates on a broad base lead to a more equitable system.

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The world thrives when individuals are able to pursue their interests without government interference.

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The cost of health care is driven by third-party payments in which payments are made to the physician by insurance company or governmental body instead of the patient.

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The key feature of libertarianism is that peace, prosperity, and social harmony are fostered by liberty and minimum governmental interference.

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