Capitalism and Freedom (Paperback)
By Milton Friedman
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy – one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into 18 languages and shows every sign of becoming more and more influential as time goes on.
As America becomes increasingly steeped in collectivist policies, we need to take a look at the myths surrounding these ideals. “Capitalism and Freedom” exposes myths such as the idea that collectivist policies will bring us closer to utopia. It answers the question of how much control government should have in a free society.
Friedman’s intent is to teach every citizen how to protect personal and economic liberty. Friedman applies his classic philosophy to the role of the government in education, the control of money, the relation between economic freedom and political freedom and the consequences of social welfare.
In writing "Capitalism and Freedom," Friedman sought to set a foundation so that what appeared politically impossible – freedom from overwhelming government – would eventually become politically inescapable.
Before his book was published in 1962, Friedman and his academic associates from around the world were determined to provide the philosophy and programs necessary so that the freed economic system could function efficiently. These men wanted the system to be understood on a personal, national and international level so that collectivism did not again become the answer to any crisis in economics.
Deciding to put their intentions into action, Friedman and his contemporaries gathered in Switzerland in 1947 and formed the Mont Pelerin Society. The objective of this society was to facilitate an exchange of ideas between like-minded scholars in the hope of strengthening the principles and practice of a free society and to study the workings, virtues and defects of market-oriented economic systems.
About the Author:
Milton Friedman is perhaps the most widely celebrated of the University of Chicago's eminent economists, and one of the many Nobel Prize winners that came out of that university. He was also the Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago, where he taught from 1946 to 1976, and a member of the research staff of the National Bureau of Economic Research from 1937 to 1981. He passed away on Nov. 16, 2006.
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