Various government agencies have been created on the claim that they will protect the consumer. These agencies restrict freedom, stifle beneficial innovation, and become agents for the industries or groups they are intended to regulate. Friedman explains how the apparent chaos of the market place, the competition of many suppliers for business, is the best protection of consumer interests. Discussion Participants: Robert McKenzie, Moderator; Milton Friedman; Kathleen O'Reilly, Consumer Federation of America; Richard Landau, Professor of Medicine, University of Chicago; Joan Claybrook, National Highway Traffic Safety Administration; Robert Crandall, Brookings Institute © 1980 / 57 min.