This clip is from the 15-part lecture series, “Milton Friedman Speaks” www.ideachannel.com Transcript available via FreedomChannel: freedomchannel.blogspot.com 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 …
Question by awsomenurse: If you sell a house on land contract, who pays the home insurance?
Do I still have to carry the insurance on the home since the loan will still be under my name???
We have no contract yet on it as I am in the first stages of deciding to land contract house to my renters.
Best answer:
Answer by chatsplas@sbcglobal.net
READ the contract
it’s usually spelled out clearly
What do you think? Answer below!
