Equality of Outcome (Milton Friedman) | from Not An Economist channel

The problem with Equality is that it is unexamined and is preached more than practiced. Have you ever wondered what equality actually means and what role the government has to play in promoting equality? Equality before the law and equality of opportunity are very important but equality of outcome is what is being preached today by politicians and collectivist thinkers. People try to tax the rich and promote welfare in the name of some abstract sense of equality, yet there is the free market and capitalism system that create less inequality than any other system known to men.

0:00 - Equality Today
0:40 - Declaration of Independence on Equality of Rights
2:25 - What is Equality of Opportunity and Why is It Important?
3:25 - What is Equality of Outcome and Why is It BAD?
5:30 - Equality and Efficiency (Price System)
6:54 - Equality and Justice
7:34 - Equality and Freedom (Liberty)
9:09 - Equality Solution for Socialists and Communists
10:54 - Government, Taxation, and Conclusion

Milton Friedman Playlist:
https://youtube.com/playlist?list=PLbVVaabAopv98lM-B9BcokQ_HsI_5W4nK

Ayn Rand Playlist:
https://youtube.com/playlist?list=PLbVVaabAopv-wXA5TLbltJfj2tCbcJQPn

All music and sounds are from https://www.epidemicsound.com