For the enlightenment, advancement, and inspiration of its members

PRODOS FILM STUDY GROUP

Proudly presents

In Celebration of Milton Friedman’s 100th Birthday

With the kind permission of the Free To Choose Network

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1. The Power of the Market (1990)

2. The Tyranny of Control (1990)

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Date: Monday August 06 2012

Venue: Home of Prodos & Barboo, 153 Lennox Street, Richmond. Phone: 9428 1234.

6.30 PM: Doors Open.

Meals (all at cost price) served between 6.30 PM and 7.15 PM

  • Lemon Pepper Atlantic Salmon: $12
  • Crumbed Lamb Cutlets: $12

7.30 PM (sharp): Commencement of Film + Chaired discussion.

Who: Only registered PRODOS Film Study Group members and guests of members allowed. You can apply to join on the night. To join you need to agree with our purpose and pay the $2 annual fee.

Policy: Leaving straight after a film and therefore skipping the discussion goes against one of the conditions upon which our permission to screen these films is based.

9.45 PM: End of meeting.

Cost: No charge. But if you’d like to make a personal donation to Prodos that’s greatly appreciated. Thanks.

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In Hong Kong for “The Power of the Market” Milton Friedman says …

This thriving, bustling, dynamic city, has been made possible by the free market –indeed the freest market in the world.

The free market enables people to go into any industry that they want; to trade with whomever they want; to buy in the cheapest market around the world; to sell in the dearest around the world. But most important of all, if they fail, they bear the cost.

If they succeed, they get the benefit and it’s that atmosphere of incentive that has induced them to work, to adjust, to save, to produce a miracle. This miracle hasn’t been achieved by government action — by someone sitting in one of those tall buildings and telling people what to do.

It’s been achieved by allowing the market to work. Walk down any street in Hong Kong and you will see the impersonal forces of the market in operation.

Milton Friedman speaking in “The Tyranny of Control” ….

When Adam Smith published The Wealth Of Nations, Britain was still a largely rural and placid place. But the Industrial Revolution was already getting started and standards of life were beginning to rise.

One obstacle was that trade with other nations was still tightly controlled. Merchants in the home market had persuaded the government of the day to impose heavy duties and taxes on all foreign imports in order to insure themselves a protected market.

One of the results was to turn Britain into a nation of lawbreakers.

Smuggling was a national past time: brandy, wines, tobacco, anything with a heavy customs duty on it. For years, the revenue men fought a losing battle along the shores and inlets of the British Isles.

In 1846, after years of argument and partial success, the followers of Adam Smith finally persuaded the British Parliament to remove all duties on goods imported from abroad. Britain embarked on complete free trade, giving a further push to the rising standard of life.

What happened in Britain as a consequence of releasing the tremendous force of self-interest, had the unintended effect of benefiting millions of people all over the world …

Free trade enabled Britain to become the work place of the world.

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