July 22, 1999 Video Collection

Milton Friedman on Tides of Political Thought in Modern History

Friedman speaks on the history of political economy from Adam Smith to the resurgence of classical liberalism.

In this 1999 video from an International Society for Individual Liberty conference in Costa Rica, economist and Nobel laureate Milton Friedman delivers a live lecture to the audience through a teleconferencing system. Friedman speaks about various “tides” of economic and political ideas throughout the modern era, beginning with the lassiez-faire influence of the Adam Smith tide in the 1700s, progressing through the Fabian tide of big government authoritarianism during the greater portion of the 20th century, and concluding with the contemporaneous Hayek tide and the resurgence of classical liberal ideas following the collapse of some of the world’s largest and most restrictive authoritarian states.

Milton Friedman (1912-2006) was one of the most recognizable and influential proponents of liberty and markets in the 20th century, and leader of the Chicago School of economics. Read more about Milton Friedman’s life and watch other videos featuring him at http://www.libertarianism.org/people/milton-friedman.