The crash that initiated the Great depression was not a failure of freedom or private enterprise. The great depression was initiated largely by the actions of the Federal Reserve (with some outside forces) who acted in such a way that was contrary to the ideas in which it was created.
Notice how Dr. Friedman says that government can deliberately cause inflation because it acts as a tax. Inflation brings more money to government and also makes the dollars that the government pays back to debt holders and bond holders worth less and less. This is why the Obama Administration and his lackey at the Federal Reserve, Ben Bernanke, have been deliberately driving up prices with inflation. This also makes every dollar in savings that the elderly have weaker and able to buy less, thus making them even more dependent on government, which falls in line with the current Democrat Leadership’s political strategy.