Uploaded September 2021 | Updated September 2026, 3 weeks ago

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The debate over whether socialism or capitalism leads to better outcomes continues to this day. Milton Friedman argued that it was critical to look at each system's results instead of focusing on the intentions behind them. While proponents of socialism make their appeals based on social justice and equality, the truth is that social injustices are the greatest under socialist regimes.

For more, click here: policyed.org/friedmanfundamentals/consequences-socialism-and-capitalism/video

Additional Resources:

Watch as Milton Friedman discusses socialism and capitalism. Available here: bit.ly/3ztgtSV.

To learn more about the free market, read “The Future of Capitalism,” by Milton Friedman. Available here: hvr.co/3BHtnxe.

Listen as Russ Roberts and Milton Friedman discuss capitalism and freedom. Available here: bit.ly/2QPoJM8.

Read “Capitalism, Socialism, and Freedom” by Peter Berkowitz. Available here: hvr.co/3xQAC51.

Read “Socialism, Capitalism, and Income” by Edward Lazear. Available here: hvr.co/3b8uyLi.

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