Milton Friedman Speaks - Season 1 Episode 17 Energy Crisis: A Humane Solution (Lecture)

It’s pointless to try to predict the availability of adequate sources of energy. What we need is an adjustable mechanism to enable us to adapt to whatever happens. We already have such a mechanism: The market helps us make transitions to the future—just as it has done in the past— if it is allowed to operate freely. Our present energy crisis exists because this crucial mechanism has not been allowed to function freely. Our prospects will be much improved if we can devise means to abolish —or at least work around—the government controls that interfere with the production, distribution and use of energy. Recorded at Bank of America, San Francisco, CA