Milton Friedman’s Capitalism and Freedom (1962) is an overview of some of the ideas that made Friedman one of the most influential economists in history.Although John F. Kennedy’s 1961 call to the American people, “Ask not what your country can do for you, ask what you can do for your country,” was one of the most famous messages of the decade, it was also bad advice... Purchase this in-depth summary to learn more.

Buy now to get the main key ideas from Milton Friedman & Rose Friedman's Free to Choose Ever since the Great Depression, many Americans have wanted the government to be more involved in the economy. The result has been growing governmental control over matters that should be left for the free market to handle, according to Nobel Prize winning economist Milton Friedman and his wife, Rose Friedman, a fellow economist. In Free to Choose (1980), the Friedmans discuss the dangers of the increasing power of government in America across multiple topics including inflation, education, equal opportunity, welfare, consumer protection, and labor unions. In every case, they assert that Americans should put their faith in the free market’s power to maintain the people’s sovereignty.

It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. Capitalism and Freedom outlines the Nobel Prize-winning economist Milton Friedman’s views on the relationship between economics and politics. Specifically, he believes that economic freedom is necessary both in and of itself, and because it is inextricably linked to political freedom. He applies this insight to a host of contemporary problems to argue that the situation could be improved by what he refers to as “competitive capitalism”. Capitalism and Freedom has sold hundreds of thousands of copies since it was first published in 1962, and was described by The Times Literary Supplement as “one of the most influential books published since the war”. Friedman himself was one of the most influential economists of the 20th century, and his ideas have been adopted by governments around the world. This book review and analysis is perfect for: • Students of economics and politics • Anyone with an interest in the history of economic thought • Anyone looking to understand the role of the government in the economy About 50MINUTES.COM | BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.

Quicklets: Learn more. Read Less. About Milton Friedman Milton Friedman was a Nobel prize-winning American economist and academic from the University of Chicago. He advised president Ronald Reagan, and his theories on limited government and free markets influenced politics well after Reagan. Friedman called himself a classic liberal, and opposed many forms of government regulation in pursuit of the widest feasible realm of freedom for the individual or family unit. He was also know for the book Free To Choose, co-written by his wife Rose. About Capitalism and Freedom This book formulates markets as chief proponents of personal freedoms and warns against the tyrannical force government can wield by intruding on economics. It describes the rise of capitalism occurring in tandem with the rise of freedom in general, and attempts to fight against what Milton Friedman saw as the expanding role of government in American and Western life after the second World War. BOOK EXCERPT From the Overall Summary: Friedman begins the book with a broad philosophical consideration of the relationship between free markets and free society, concluding that the two are inextricably and necessarily linked together. He traces his ideas to the European liberals of the eighteenth century, then describes the assault on these values through the first half of twentieth-century America. The liberal movement sparked a counter-movement among American intellectuals which sought increasing governmental control in the name of protecting the public, culminating in the New Deal. Friedman then goes on to argue that the role of government must be scaled back. Central planning, he says, will inevitably lead to violations of personal freedom. We need to agree on the laws, the "rules of the game", and the government must enforce those laws. Beyond that, it must sit back and let us play the game as we choose. Trade restrictions are burdensome, hurtful to the economy and a dangerous overreach of government. The most effective way to turn a market economy into an authoritarian one, says Friedman, is to the impose direct controls on foreign exchange; one step in that direction leads to further controls. A free-floating exchange, based on the market, ought to decide international currency values, not government price settings. ..To be continued! Quicklets: Learn more. Read less.

In this book, Robert Leeson and Charles Palm have assembled an amazing collection of Milton Friedman's best works on freedom. Even more amazing is that the selection represents only 1 percent of the 1,500 works by Friedman that Leeson and Palm have put online in a user-friendly format—and an even smaller percentage if you include their archive of Friedman's audio and television recordings, correspondence, and other writings. This book and the larger online collection are sorely needed and very welcome. Milton Friedman deserves to be read in the original by generation after generation. These days, many people channel Friedman to support their own views, which sometimes are quite contrary to his actual views. With so much of it now readily available, everyone will find it easier to remember and learn from what he actually wrote and said. Readers will find the book refreshing whether or not they are already familiar with Friedman's work.