Editors' Note: On Thursday, July 31, 2008, John Stossel participated with a live chat with his readers to commemorate Milton Friedman Day, sponsored by Townhall.com and the Young America's Foundation.
Townhall: Welcome to Townhall.com. Thanks for joining us today.
We are pleased to welcome John Stossel, co-Anchor of ABC’s 20/20 and Milton Friedman Lecturer for the Young America's Foundation.
Townhall: Today is Milton Friedman Day. Friedman, who would have been 96 today, was regarded as one of the world's most powerful and influential promoters of freedom. He argued that the voluntary choices of individuals, not the dictates of the state, should be the default mode of human life; government is justified only insofar as it preserves, protects and defends people's liberty. His revolutionary work in economic theory earned him the Nobel Prize in 1976.
This chat is just one of more than fifty events in 42 states honoring the life and legacy of Dr. Milton Friedman.
Our guest today, John Stossel, champions the power of free markets and individual freedom through his ABC broadcasts and campus lectures through Young America's Foundation.
Welcome Mr. Stossel.
John Stossel: It's a pleasure to be a part of this chat today to honor Milton Friedman, one of my heroes. Thanks to YAF & Townhall for making this happen.
Townhall: Thank you for joining us. Let's jump to the questions.
Townhall: Recently there has been a bit of a controversy over the naming of the Friedman Institute at the University of Chicago. Have you been following that?
John Stossel: I read the NY times article. Not sure that's accurate -it's the New York Times after all. Assuming it was accurate it just shows some people despise capitalism despite its astounding contributions.
robodisc_108450: Hello. How can we best share Milton Friedman's ideas with young people?
John Stossel: I wish I had a better answer - my best attempt is to put them on 20/20 whenever I can. I’ve also persuaded 20/20 to offer some of these free to teachers through stossel in the classroom. YAF helps arrange for me to spread his ideas by speaking to college campuses. And any other suggestions are most welcome. Milton Friedman’s ideas do more to help poor people than a million community organizers.
williamv_0989087: In your opinion, what role should the government play in regulating the economy and why?
John Stossel: None. Milton Friedman taught me that. Government should enforce rule of law: punish cheaters & those who directly hurt others. Otherwise, government should butt out.