| Milton Friedman on Self-Interest and the Profit Motive 2of2 - 415 sec 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 FreedomChannel: http://freedomchannel.blogspot.com/2007/12/milton-friedman-on-slavery.html
Summary:
A student poses a series of question on based on Friedman's notion that people should pursue their own self-interest. The student points out that he'd read that Friedman had previously come out against disaster aid for victims of a flood in Pennsylvania. Friedman corrected the questioner and noted that he did not come out against private aid for flood victims but instead was against the Federal Government providing discounted flood insurance in advance to home purchasers which motivated people to build houses in areas where they otherwise would not have been able to obtain insurance privately. If not for the discounted insurance, it's likely many of the flooded houses would never have been built in the first place as it wouldn't have been in peoples self-interest.
The student went on to note that it was recently reported that an old man in Ohio died when the electric company turned off his power when he'd failed to pay his electric bill. Was it moral for the company to act in it's own self-interest to do so? Friedman responded by asking what if the electric company never turned off the power for anyone? Who would pay the cost--the people who own or work at the electric company? It would be unjust to impose that responsibility on individuals who are running an honest business of providing electricity. Friedman suggests that the true responsibility lies on the mans neighbors and friends who were not charitable enough to allow him to meet the electric bills.
Finally the student uses the example of Ford deciding not to install a $13 block of plastic which would prevent it's Pinto cars from exploding in a rear-end collision. Ford estimated such a move would cost 200 lives a year at a cost of $200,000 per life lost. They multiplied and found that it wasn't worth it to install the plastic block. He asked if a corporation seeking it's own self-interest was a good thing in this case? Friedman responded by asking, what if it cost $1 billion to save each life, should Ford have put in the block? It's simply not practical to put an infinite value on an individuals life. If it took $1 billion in resources to keep one individual safe, and acquiring those resources meant that a million people must starve, it's a bad deal. Friedman concludes that he doesn't know if the $200,000 number that Ford used was the right number to maximize the overall benefits, but at the end of the day the principle is that we can't simply protect ourselves from everything and impose that cost on others. Friedman posits that the question the student should be raising, is should Ford be required to attach the statement to the car, "we've made this car $13 cheaper, and therefore it is X% more risky for you to buy it".
See also:
Free to Choose - All 15 episodes streaming online for free
http://www.ideachannel.tv
A history of Free to Choose
http://www.freetochoose.com Tags: Milton Friedman Capitalism Freedom Corporations Profits Ralph Nader Socialism Subsidies Documentary Politics Ford Pinto  | | | | Self Interest and the Secret of Money - 467 sec Self Interest and the Secret of Money
money = survival = self-interest
the polarity by which the money system exists is: either you have money, or either you dont.
in the rich parts of the world the upper class, life has become equal to the possession of money. Life is lived because of money. Life is organized and moulded in accordance with the demands and requirements of money. Life is one big worry-trip over money, because it is not available unless you choose for self-abuse. Labour in te current system is self-abuse. Schools are self-abuse. If people would for instance work under the exact same circumstances as they curently do, but without getting paid for it, the self-abuse would be obvious. The power of money: for money well put up with self-abuse and even be gratefull.
Children understand their education, through extensive schooling, is aimed towards accomodating to this life, and this is taken for granted - it is all that is known to them, it is all that has ever been presented to them.
A child sees that whenever something moves or happens, there is money involved - everything in this reality must be bought. Therefore, basically, children see that money makes things appear: only money makes things possible - money is that which creates
this is how children are brought up to become possesed by money - and clearly it is each one for themselves. see, when there exist a lack of money, the "each one for themselves" is created. In the background of everyones lives exist the constant risk: that you might end up with nohing.
Every child understands that one day every one will have to fend for themselves, but the schoolsystem cons them to believe it is merely a question of following the rules within the education path that is layed out before them and to play and go along within this as diligently as possible and then everything will turn out fine. so basically, the idea is created that there exist a place for everyone in this world, in terms of work and money. They wil have to wait untill they face the real world of money, before realizing the system holds no promisses nor any guarantees. So, because everyone is so willing to believe they belong to the group that will succeed the entire game is not questionned. but within children is implanted now a fear of 'falling out' of the system, a fear of becomming 'invalid', if their performances dont meet the expectations and criteria of succes, which are portrayed as the ONLY guarantee for succes in life. the succes they display at school will be met and rewarded with money.
The result of this is self-interest: each one will attempt to design a life for themselves, according to the rules of the system, in disregard of everyone else, that will make sure they have money. Because how else will you even survive? this is the point you apparently cannot disregard, you NEED money, wheter you like it or not, thus turning men into wolves. FIRST comes MY money, and THEN, perhaps i will consider another
as long as money is not readily available, money will allways be the FIRST point to consider, before anything else. So we are all slaves to money. Within the system there is no choice: you must DEDICATE your life, your existence, to money, because without it you are fucked.
This shows clearly how money is the highest rule in this world - we exist through money. And as long the money system remains as is, nothing in this world is able to change
Half of the worldpopulationlives in poverty. However, nobody is prepared to come up with a real and lasting solution, because it might imply sacrifice of personal wealth. Nobody will for instance give up their standards of living to resolve the current money-system which is the only cause of world-poverty. From that perspective, most people in the industrialized countries feel the system is actually holding things together for them. The state of the world is excused by the belief that this is the best thing for all. And; This is where history has culminated into as the best of all possible worlds. Tags: Self Interest Money Secret Desteni Destenimoney DesteniResearch | | Rascals Don't Know Their Real Self Interest! 1 - Prabhupada - 598 sec FOR PRABHUPADA BOOKS AND DVDS: http://www.prabhupada.org.uk/shop/ind...
MY WEBSITE:
http://www.prabhupada.org.uk/
MYSPACE:
http://www.myspace.com/mukunda_dasa
The Illuminati are trying to destroy Prabhupada and his transcendental teachings because he is their greatest enemy and the only real threat to their Demoniac New World Order.
Prabhupada has been sent by Krishna [God] to this world to educate all people in the science of self and God realization. He has come to fulfil the desire and complete the work of all the previous representatives, servants, and incarnations of God such as Jesus, Mohammed and Buddha etc.
Prabhupada's amazing miracle of translating the essence of the ancient Vedas to the people of the world and thus revealing the clear path to true spiritual realization, free from all religious dogma will bring about the Spiritual World Order of peace, enlightenment and equality for all on the this planet for 10,000 years!
Prabhupada said of the Illuminati:
"It is a fact however that the great sinister movement is within our Society. [ISKCON]"
[Srila Prabhupada Letter to: Hamsaduta 2 September, 1970]
"So there may be attempt like that. And Lord Jesus Christ was killed. So they may kill me also."
[Room Conversation May 3, 1976, Honolulu]
But he also assured us as follows:
Therefore our movement is being checked in the Western countries that this is a brainwash movement. Brainwash movement, that we are injecting some ideas by psychology, mental control, and our people they are taking to it, and it is spreading like epidemic. How to check it? Therefore they are now taking action how to stop this Hare Krsna movement in Europe and America. They are trying. Of course, we are not afraid of this attempt. They will never be successful, rest assured, because we are pushing Krsna consciousness. Krsna was attempted to be killed from the very beginning of His life. That is the nature of this material world, "How to kill God," "God is dead." This is their attempt. So from the life of Krsna we can understand that so many attempts were made by the demons and the raksasas to kill Krsna, but actually Krsna killed them all. So if you are sincere, if you follow the principles and push on this Krsna consciousness movement, nobody can kill you. You'll go forward, rest assured. We are not going to be killed. That they are perceiving, that this movement is spreading like epidemic, and the young men of Europe and America, they're taking seriously. Professor Stillson Judah already has given his conclusion that "This movement is not going to stop. It will go on." That's a fact. Krsna cannot be killed, neither His movement cannot be killed. Rather, those who are attempting to kill, they will be killed. But we must be very sincere, serious, follow the regulative principle and chant Hare Krsna mantra as you have been taught. Follow this principle boldly, and there is no fear.
[Srila Prabhupada Lecture from Srimad-Bhagavatam 5.5.32, Vrndavana, November 19, 1976]
So lets put aside our Illuminati indoctrinations of religious dogma, Darwin monkey brained evolution, and the evil ideology of communism. Due to complete frustration let's not take shelter of impersonal or nihilistic philosophy. Rather let's take shelter of Srila Prabhupada, a fully God realized saint who can enlighten us about our real nature of eternity, knowledge and bliss through our personal relationship with Krishna [God].
Hare Krishna! Jaya Prabhupada!!!
Jaya Prabhupada!!! Tags: Illuminati New World Order Prabhupada Krishna George Harrison John Lennon Meditation Yoga Matrix Icke Alex Jones Beatles | | | | Acting Against Self Interest - 403 sec I realize that the question, "Why would I support a racist" appears different than the question, "Why would I act against my own self interest?" but the type of thinking that asks a question like that as though it is an argument is pretty much the same. Tags: Self Interest | | | | Rascals Don't Know Their Real Self Interest! 3 - Prabhupada - 360 sec FOR PRABHUPADA BOOKS AND DVDS: http://www.prabhupada.org.uk/shop/ind...
MY WEBSITE:
http://www.prabhupada.org.uk/
MYSPACE:
http://www.myspace.com/mukunda_dasa
The Illuminati are trying to destroy Prabhupada and his transcendental teachings because he is their greatest enemy and the only real threat to their Demoniac New World Order.
Prabhupada has been sent by Krishna [God] to this world to educate all people in the science of self and God realization. He has come to fulfil the desire and complete the work of all the previous representatives, servants, and incarnations of God such as Jesus, Mohammed and Buddha etc.
Prabhupada's amazing miracle of translating the essence of the ancient Vedas to the people of the world and thus revealing the clear path to true spiritual realization, free from all religious dogma will bring about the Spiritual World Order of peace, enlightenment and equality for all on the this planet for 10,000 years!
Prabhupada said of the Illuminati:
"It is a fact however that the great sinister movement is within our Society. [ISKCON]"
[Srila Prabhupada Letter to: Hamsaduta 2 September, 1970]
"So there may be attempt like that. And Lord Jesus Christ was killed. So they may kill me also."
[Room Conversation May 3, 1976, Honolulu]
But he also assured us as follows:
Therefore our movement is being checked in the Western countries that this is a brainwash movement. Brainwash movement, that we are injecting some ideas by psychology, mental control, and our people they are taking to it, and it is spreading like epidemic. How to check it? Therefore they are now taking action how to stop this Hare Krsna movement in Europe and America. They are trying. Of course, we are not afraid of this attempt. They will never be successful, rest assured, because we are pushing Krsna consciousness. Krsna was attempted to be killed from the very beginning of His life. That is the nature of this material world, "How to kill God," "God is dead." This is their attempt. So from the life of Krsna we can understand that so many attempts were made by the demons and the raksasas to kill Krsna, but actually Krsna killed them all. So if you are sincere, if you follow the principles and push on this Krsna consciousness movement, nobody can kill you. You'll go forward, rest assured. We are not going to be killed. That they are perceiving, that this movement is spreading like epidemic, and the young men of Europe and America, they're taking seriously. Professor Stillson Judah already has given his conclusion that "This movement is not going to stop. It will go on." That's a fact. Krsna cannot be killed, neither His movement cannot be killed. Rather, those who are attempting to kill, they will be killed. But we must be very sincere, serious, follow the regulative principle and chant Hare Krsna mantra as you have been taught. Follow this principle boldly, and there is no fear.
[Srila Prabhupada Lecture from Srimad-Bhagavatam 5.5.32, Vrndavana, November 19, 1976]
So lets put aside our Illuminati indoctrinations of religious dogma, Darwin monkey brained evolution, and the evil ideology of communism. Due to complete frustration let's not take shelter of impersonal or nihilistic philosophy. Rather let's take shelter of Srila Prabhupada, a fully God realized saint who can enlighten us about our real nature of eternity, knowledge and bliss through our personal relationship with Krishna [God].
Hare Krishna! Jaya Prabhupada!!!
Jaya Prabhupada!!! Tags: Illuminati New World Order Prabhupada Krishna George Harrison John Lennon Meditation Yoga Matrix Icke Alex Jones Beatles | | | | |
|
