Interest and Islamic Banking - Contemporary Issues - Bilal Philips

Interest and Islamic Banking - Contemporary Issues - Bilal Philips less

This clip is from the 15-part lecture series, "Milton Friedman Speaks" http://www.ideachannel.com/product_info.php?products_id=1137 Transcript available via... more

This clip is from the 15-part lecture series, "Milton Friedman Speaks" http://www.ideachannel.com/product_info.php?products_id=1137 Transcript available via FreedomChannel: http://freedomchannel.blogspot.com/2007/12/milton-friedman-on-slavery.html Summary: A student poses a series of question on based on Friedman's notion that people should pursue their own self-interest. The student points out that he'd read that Friedman had previously come out against disaster aid for victims of a flood in Pennsylvania. Friedman corrected the questioner and noted that he did not come out against private aid for flood victims but instead was against the Federal Government providing discounted flood insurance in advance to home purchasers which motivated people to build houses in areas where they otherwise would not have been able to obtain insurance privately. If not for the discounted insurance, it's likely many of the flooded houses would never have been built in the first place as it wouldn't have been in peoples self-interest. The student went on to note that it was recently reported that an old man in Ohio died when the electric company turned off his power when he'd failed to pay his electric bill. Was it moral for the company to act in it's own self-interest to do so? Friedman responded by asking what if the electric company never turned off the power for anyone? Who would pay the cost--the people who own or work at the electric company? It would be unjust to impose that responsibility on individuals who are running an honest business of providing electricity. Friedman suggests that the true responsibility lies on the mans neighbors and friends who were not charitable enough to allow him to meet the electric bills. Finally the student uses the example of Ford deciding not to install a $13 block of plastic which would prevent it's Pinto cars from exploding in a rear-end collision. Ford estimated such a move would cost 200 lives a year at a cost of $200,000 per life lost. They multiplied and found that it wasn't worth it to install the plastic block. He asked if a corporation seeking it's own self-interest was a good thing in this case? Friedman responded by asking, what if it cost $1 billion to save each life, should Ford have put in the block? It's simply not practical to put an infinite value on an individuals life. If it took $1 billion in resources to keep one individual safe, and acquiring those resources meant that a million people must starve, it's a bad deal. Friedman concludes that he doesn't know if the $200,000 number that Ford used was the right number to maximize the overall benefits, but at the end of the day the principle is that we can't simply protect ourselves from everything and impose that cost on others. Friedman posits that the question the student should be raising, is should Ford be required to attach the statement to the car, "we've made this car $13 cheaper, and therefore it is X% more risky for you to buy it". See also: Free to Choose - All 15 episodes streaming online for free http://www.ideachannel.tv A history of Free to Choose http://www.freetochoose.com less

Jason Mraz - 0% Interest

Jason Mraz - 0% Interest less

Jason Mraz

Jason Mraz less

Two teenage girls share friendship and affection that sparks jealousy and turns heads. When two teenage boys come into the picture, dynamics shift and illusions shatter as sex, drugs and infidelity run rampant in a junkyard.

Two teenage girls share friendship and affection that sparks jealousy and turns heads. When two teenage boys come into the picture, dynamics shift and illusions shatter as sex, drugs and infidelity run rampant in a junkyard. less

Dr Zakir Naik

Dr Zakir Naik less

Is Interest from a bank allowed in Islam?

Is Interest from a bank allowed in Islam? less

MySpace Friend Me http://www.myspace.com/psychtruth FDA Advisory & Big Pharma Conflicts of Interest, Psychology w/ Shannon Not a conspiracy theory because... more

MySpace Friend Me http://www.myspace.com/psychtruth FDA Advisory & Big Pharma Conflicts of Interest, Psychology w/ Shannon Not a conspiracy theory because it's just too easily documented. Members of the FDA Advisory Committees for psychiatry and risk management have major ties to the drug industry. This video was produced by psychetruth http://www.youtube.com/psychetruth http://www.myspace.com/psychtruth http://psychetruth.blogspot.com Psychetruth is empowered by TubeMogul http://www.tubemogul.com © Copyright 2008 Zoe Sofia. All Rights Reserved. Distributed by Tubemogul. less

Unsung Father of Lo-Fi and DIY Pioneer, R. Stevie Moore, performing "Conflict of Interest" on the Uncle Floyd Show, 1980. With Jim Price, Irwin Chusid and... more

Unsung Father of Lo-Fi and DIY Pioneer, R. Stevie Moore, performing "Conflict of Interest" on the Uncle Floyd Show, 1980. With Jim Price, Irwin Chusid and Susan Griffin. For the audio cd version of "Conflict of Interest" get Clack! (1980) at: http://www.rsteviemoore.com/tp/clack.html For the complete Uncle Floyd performances in DVD get: http://www.moorestevie.com/3/uf/ Lyrics: i am stupid you are smart getting ignored just breaks my heart thinking in the auto where am i at i don't wanna know the answer to that not responsible for getting it right holding my breath every night scared to death you will not react i don't wanna know the reaction to that good shape good shape good shape good shape conflict of interest i ain't gonna quit conflict of interest i ain't gonna change there's a conflict of interest i cannot improve i can't no i can't i don't know how what is the reason for this grief is my personality too deep you might say i'm wasting my time trying to solve this inhuman crime take me back to maplewood get me a job write apologetic letter to bob anything is better than singing this song nothing is right but something is wrong. http://www.rsteviemoore.com less

Episode 37. Part 1 of 3.

Episode 37. Part 1 of 3. less