Free To Choose 1980, Vol. 9: How to Cure Inflation
Free To Choose Network is a nonprofit media group with a global reach and a passion for big ideas. The network originally launched with Nobel Prize-winning economist Milton Friedman’s groundbreaking 1980 television series “Free to Choose,” and still believes that people—and societies—flourish when free to shape their own lives, pursue personal goals, and make choices that reflect their values. Through smart, accessible storytelling, their programs spark conversations about freedom, responsibility, and what it means to live well.
Overview
Free To Choose® is the ground-breaking PBS television series featuring Milton Friedman, Nobel Prize-winning economist. Filmed on location around the world, these programs have helped millions of people understand the close relationship between the ideas of human freedom and economic freedom.
How to Cure Inflation
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. In this episode, Friedman visits Japan, the United States and Britain. Moderated by Robert McKenzie, featured participants include: Milton Friedman, Congressman Clarence J. Brown, William M. Martin (Chairman of Federal Reserve, 1951-1970), Beryl W. Sprinkel (Executive Vice-President, Harris Bank, Chicago), Otmar Emminger (President, Deutsche Bundesbank, Frankfurt West Germany).