Here's a clip of respected, but controversial, economist Milton Friedman speaking on self interest and the incentive of profit:
1. Do you agree with Friedman, that the government should not provide flood insurance at low cost to individuals who knowingly move to areas with high flood rates? Why do you think Friedman is against this?
2. What do you think of Friedman's answer to the question about the man who died because the power company turned off his power after he failed to pay his electric bill? Do you agree with him? Why or why not? What point do you think he is trying to make?
Friedman on the economics of drug legalization
3. Does Friedman feel that prohibition of drugs discourages drug use? Why or why not?
4. What arguments does he use to suggest that drugs should be legalized? Do you agree? Why or why not?
5. In what ways do Friedman and Adam Smith share beliefs?
...and, lastly, Friedman on slavery and colonization
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Milton Friedman is a good economist and under pressure he makes really good points. I agree with him on the "Self interest and the Incentive of Profit" and "The economics of drug legalization" video clips. I watched it several times
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