Name: Debunking Sam Seder on Milton Friedman: Self-Interest and the Division of Labour
Uploaded: 2021-10-27T01:49:02+00:00
Duration: 12 min 23 s
Description: In this video, debunking Sam Seder on Milton Friedman, he touches upon the argument of self-interest. Here I refute his argument by explaining why there was such growth in defence of self-interest whi

2 years ago

debunking sam seder sam seder milton friedman milton friedman greed division of labour division of labor division of labor and specialization comparative advantage self-interest

In this video, debunking Sam Seder on Milton Friedman, he touches upon the argument of self-interest. Here I refute his argument by explaining why there was such growth in defence of self-interest which largely stems from the division of labour.

As I have argued many times before, self-interest is part and parcel of human nature and social cooperation through self-interest is precisely what resulted in a harmonious society that resulted in such prosperity. The same cannot be said for the very societies that lead in the opposite direction, which is exactly what the great Milton Friedman was pointing out.

Without the self-interest through such division of labour, society would never be able to sustain itself and would result in mass starvation. Here, I also explain comparative advantage that illustrates regardless of how skilled someone may be, it illustrates such importance on the division of labour, without it, society leads to chaos and conflict, which most certainly does not result in a prosperous society.

This all closely correlates to the problems faced under socialism with the communal ownership of property, the absence of private property results in the free rider problem and starvation.

• Market vs Government: (0:00)
• Social Cooperation Explained: (2:15)
• Division of Labour: (3:55)
• Flawed Comparison: (8:49)
• False Prosperity: (9:23)
• Free Stuff Isn't Free: (10:25)

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