Today marked the 98th birthday of Nobel Prize winning economist Milton Friedman. Friedman died in 2006 and left a profound legacy to all of us who enjoy life in the US. I admire him for his ability to communicate counter-intuitive economic principles in common language. Simply put, he makes sound economics intellectually accessible. It helps that he look like a cute grandpa.
In this clip, “grandpa Milton” explains how poverty and economic liberty are related. (Includes a sweet shot of him overlooking Hong Kong. Tough gig!)
“Which system has the best arrangement for enabling poor people to improve their lives?…The freer the system, the better off the ordinary poor people have been.”
