During the first half of the third day the Liberty Camp 2012 and the Liberty Academy 2012 engaged in seperate discussions. While the Liberty Camp participants discussed the Morality of Capitalism with Dr. Tom Palmer, the Liberty Academy participants addressed the issue of Public Choice in a discussion with Dr. Adam Martin (with a little help from Steve Buscemi of the Boardwalk Empire).
The second discussion kept the groups seperated. The Liberty Academy discussed with Dr. Palmer what comes after the welfare state, while the Liberty Camp was offered a crash course on Anarcho-Capitalism by Dr. Adam Martin.
After lunch we watched the documentary movie titled "Power of Choice: The Life and Ideas of Milton Friedman". Dr. Milton Friedman was not just a Nobel Prize-winning economist but also one of the greatest champions of liberty in the 20th century. The entire afternoon was devoted to celebrating centennial of Dr. Milton Friedman's birth.
The day ended with a discussion led by Dr. Dan Mitchell on tax competition and later a discussion led by Dr. Adam Martin on the differences between the Chicago School and the Austrian School of Economics.