Milton Friedman: Is Capitalism a Moral Philosophy? Is Socialism?

Capitalism milton friedman

Many proponents of socialism often attempt to appeal to a moral high ground when arguing the merits of their economic system against “the evils of capitalism.” Is there any truth to this claim? Is capitalism evil? Are socialists attempting a simple misdirection technique (i.e. “don’t look at all of the obvious examples of truly socialist societies flagrantly violating human rights and leaving their people destitute within the fiscal prison of a ruined economy” [i.e. Venezuela, Cuba, North Korea, China, the Soviet Union, etc.])? Nobel Prize winning economist Milton Friedman explains the difference between capitalist and socialist societies on a fundamental level; and why capitalism is ultimately the only virtuous option of the two.

 

Do you agree with Dr. Friedman? Let us know why or why not on Facebook or in the comments below.

About Patrick Stephens 162 Articles

Patrick is the founder and lead editor of the publication. Currently a pastor of many years by trade, Patrick served in the US Army and did his graduate work at both Miami University in Oxford, OH (Social Sciences) and the University of Dayton (Theology) — earning an advanced degree. He enjoys bringing a larger historical and philosophical perspective to his projects. Also, he likes comic books.

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