Milton Friedman is right as far as he takes it. The free market is the most effective system the world has known for producing wealth and reducing poverty. What he doesn't say in this video clip is that the free market, because it is limited to voluntary exchange, is also the most moral system for reducing poverty. A system which employs the initiation of force will not be as effective--it can only redistribute wealth not create it--but even more importantly, it entails in its methods the destruction of civil society.
(HT Ideas Matter)