In this video from, Milton Friedman takes a step back from the details of public policy issues and discusses the basic libertarian beliefs and values. "I have no right to coerce someone else," he says, "because I cannot be sure that I'm right and he is wrong."

The late Nobel laureate agreed in 2001 to lend his name to a special prize, which has now become the leading international award for acknowledging contributions to the promotion of individual liberty. Mao Yushi, one of China's most outspoken and influential activists for individual rights and free markets, was named the 2012 winner of the Cato Institute's $250,000 Milton Friedman Prize for Advancing Liberty. Learn more at
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