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Free to Choose Season 1 Episodes
Season 1 Episode Guide
10 Episodes 1980 - 1980
Episode 1
The Power of the Market
Wed, Apr 16, 1980
America's freedom and prosperity derive from the combination of the idea of human liberty with the idea of economic freedom in Adam Smith's Wealth of Nations. Friedman explains how markets enable people to improve their lives.
Episode 2
The Tyranny of Control
Wed, Apr 16, 198057 mins
Government planning and detailed control of economic activity lessens productive innovation, and consumer choice. Good, better, best, are replaced by "approved" or "authorized." Friedman shows how "established" industries or methods, seek government protection or subsidization in their attempts to stop or limit product improvements which they don't control. Friedman visits India, Japan and U.S.
Episode 3
Anatomy of a Crisis
Wed, Apr 16, 1980
The Great Depression has been viewed as a failure of capitalism. The stock market crash was one of several visible symbols supporting this belief. As Friedman explains, the real cause was the unseen failure of government policy and action.
Episode 4
From Cradle to Grave
Wed, Apr 16, 198057 mins
The welfare state arises from the attempt to do good with other people's money. Such attempts always fail because: Nobody spends somebody else's money as carefully as his own. Welfare is supply driven. Those spending the money use force to collect it and to insure those receiving it use it for "right" purposes. Good intentions are corrupted by bad means. Friedman visits U.S. and Britain.
Episode 5
Created Equal
Wed, Apr 16, 198057 mins
The Declaration of Independence says, "all men are created equal." Friedman explains that this did not mean all persons should or will have equal talents or income. Equal opportunity to better one's self, and the right to personally benefit from the gains realized, are consistent with freedom. Taking from some to give to others destroys freedom and removes the incentive for creating new wealth.
Episode 6
What's Wrong with Our Schools?
Wed, Apr 16, 198057 mins
Parental choice and parental responsibility in the education of children is a U.S. tradition and is consistent with a free society. Centralized government control has eroded freedom and adversely affected the quality of education. The poor help pay for education for the future rich. Friedman has long advocated using vouchers to solve the problem. He explains why as he visits the U.S. and Britain.
Episode 7
Who Protects the Consumer?
Wed, Apr 16, 198057 mins
Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle beneficial innovation, and become agents for the industries or groups they are intended to regulate. Friedman explains how the apparent chaos of the market place, the competition of many suppliers for business, is the best protection of consumer interests.
Episode 8
Who Protects the Worker?
Wed, Apr 16, 198057 mins
Unions sometimes protect some workers - their members - but usually at the expense of other workers. Government protects its employees and special groups of workers at the expense of other workers. Both unions and government restrict freedom. Friedman explains how the competition of employers for the talents of workers leads to the highest wages and best working conditions.
Episode 9
How to Cure Inflation
Wed, Apr 16, 198057 mins
Inflation results when the amount of money printed or coined increases faster than the creation of new goods and services. Money is a "token" of the wealth of a nation. If more tokens are created than new wealth, it takes more tokens to buy the same goods. Friedman explains why politicians like inflation, and why wage and price controls are not solutions to the problem.
Episode 10
How to Stay Free
Wed, Apr 16, 1980
Historically, it was feared that democracies always self destruct when citizens insist on government actions that physically and morally bankrupt their nation. Friedman explains why the US has avoided this and how we can continue to do so.