FDA is Bad (Milton Friedman) | from Not An Economist channel

Milton Friedman came to rescue the consumer and explain why so called "Consumer Protection" programs and agencies are not only picking our pockets and wasting taxpayer money, but also leaving the consumer harmed and less protected. This is another example of "Good Intentions" not equaling the desired "Good Results". We must understand that the only way consumer can be protected is by free competition and free markets, and not by agencies like FDA. Watch the video to learn why!

0:00 - Louis D. Brandeis Quote
0:26 - Common Characteristics of Consumer Protection Programs
1:35 - Anti-Consumer Regulations and Inconsistency of Regulators (Imports and FDA)
3:39 - Why FDA Does More Harm Than Good
5:21 - Who Benefits from Regulations if Consumer is Hurt?
6:43 - Who Protects the Consumer?
7:50 - List of False Claims Made by Consumer Advocates (Consumer Judgement, FDA Judgement, False Advertisement)
9:38 - Conclusion and a Joke

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

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