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Milton Friedman on Slavery and Colonization



This clip is from the 15-part lecture series, “Milton Friedman Speaks” http://www.ideachannel.com/product_info.php?products_id=1137 Transcript available via …

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  1. African Americans voted with there feet for 250 years. Then Jim Crow stole everything the freed slave earned, and criminalized them for 150 years after slavery. ( Black Wall Street). Freeman made all of his assumptions under the idea that everything was equal. It was never equal for African Americans, even today.

  2. Slavery is still alive today. It has just been repackaged. Natural resources, local or gained abroad, is the foundation of all wealth. As one can see, the black man in the USA during the 70's was full of lies and misconception of the truth. Yes, propaganda was king. Just another lost decade. How dare Friedman disagree with this man's mentors.

  3. No, the US didn’t bother colonizing. It just murdered indigenous people and stole what it needed from Mexico. Of course, that’s just competitive capitalism, right? War and dispossession. Two of the other foundations of Western capitalism that Friedman didn’t mention. The US saw the failure of the European colonial system and came up with a far more efficient and profitable strategy. War and dispossession. And it continues to this day. Where would US capitalism be were it not for the military industrial complex? Communism is a failed system. I’m no communist. But let’s at least be honest about the origins and development of capitalism in the US. Our free market is covered with blood.

  4. Milton Friedman is right about the need to check government programs, welfare, inflation and taxation. He is right on the importance of free enterprise. But he is terribly misinformed about social justice history – post slavery segregation and colonialism. When he sings glories of 19th century America, he neglects segregation and racial discrimination. When he talks about the greatness of Britain's post 1846 economy, he neglects talking about the crippling taxation and restrictions placed upon India that stifled its growth. He is right to talk about the cause of slow growth in the years following Indian Independence with centrally planned socialist policies. Welfare in America is generally bad and negative income tax is a better idea. But then there is a case for the government to provide a higher negative income tax to African Americans and Native Americans, as reparations for social and economic injustice for a period of time. Give everyone $1000 UBS. Give blacks and Native Americans an extra $1000 for 30 years.

  5. It's got to be hard to tell the truth about your own people when much of it is negative. I could be wrong but it would seem apparent that certain tasks and burdens were appointed to some peoples but not to others. Only God knows why. I dont believe Black folk were meant to live as the White man. They were given a different set of rules and standards to live by. Jmo

  6. "It cost Britain more to maintain India"
    Studies conducted by experts found out that the value of wealth Britain drained out of India was worth around $45 trillion dollars, more than the combined total GDP of the US and the EU, the top two largest economies, put together in 2019.
    And it's a famous fact that Britain maintained India not by investing any additional wealth from their home, but by 'Divide and Rule'. The progress of the people stagnated in the early 20th century was bcoz the Britain had been able to pit two large religious communities against one another.

  7. Being an advocate for free markets, in defense of India, there was NO real private capital to establish industries at that time; only the government had capital to lay the foundation for development after the British essentially looted India of its material wealth. It is most unfortunate that India REMAINED a socialist and license raj enabling crony business families (who took over the operating licenses from the Brits) to flourish to this day.

  8. Friedman is ultimately proven wrong in the end by the reality of western capitalism cannibalizing itself, now that the markets it has exploited are either running dry or taken over by rising countries who are following our aggressive/subversive means of development. Standards of living have risen for some in this "developed world," but Friedman's denial of slavery's continuity and relationship to global capitalism are ignorant and ahistorical. Slavery takes many different forms, wage, chattel, or otherwise – the only free countries Friedman would have been able to cite are countries that profited from the colonial exploitation that audience member was explaining

  9. So, slavery in US. I might have a strange view on the subject as an outsider but wasn't all the civil war thing revolving around technically developed rich northern states with (in comparison) no slavery completely dominating over poor agricultural slavery-based southern states? And the south has lost because, you know, it wasn't all that technically and economically developed? And it turns out that exploitation of the poor slaves is not that beneficial at the end?

  10. The initial bad effects of colonialism include that of slavery, genocide, and racism. But all the wrongs were later admitted and fixed. The positive effects of progress vastly changed the world for the better. Europeans weren’t just evil scum, and world conquerors. They also created very advanced, prosperous, progressive civilizations across the world. One of the first places to outlaw slavery. There is no legal slavery in all of Europe. But it still exists in other regions. Europeans lost millions of lives in the name of stopping genocide in the 20th century. Europeans brought early negative effects, but I argue that the positive effects outweigh the bad.

  11. British didn't have slaves? Completely ignores the American civil war, slave trade, war of 1812, India (in literal name sense)… why even bother. Friedman is a perfect example of someone who dances around the subject like a jester until you forgot what your point was and get confused with bullshit rhetoric.

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