Milton Friedman: Capitalism or socialism, which is more humane?

Collectivist, Big Government policies are being increasingly openly espoused by mainstream politicians. Socialism, that discredited relic of the 20th century, is having ‘a moment’. These idea are frequently presented as being more ‘fair’ or ‘humane’ than free market capitalism.

But are they? In the video below, from 1978, the economist Milton Friedman explains the relative humanity of capitalism and socialism.

John Phelan is an economist at the Center of the American Experiment.