Capitalism and Freedom: Fortieth Anniversary Edition [Deluxe Edition] [Paperback]

Milton Friedman (Author)

Book Description

ISBN-10: 0226264211 | ISBN-13: 978-0226264219 | Publication Date: November 15, 2002 | Edition: 1

Selected by the Times Literary Supplement as one of the "hundred most influential books since the war"

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 eighteen languages, and shows every sign of becoming more and more influential as time goes on.

Editorial Reviews

Review

"Milton Friedman is one of the nation's outstanding economists, distinguished for remarkable analytical powers and technical virtuosity. He is unfailingly enlightening, independent, courageous, penetrating, and above all, stimulating." - Henry Hazlitt, Newsweek

From the Inside Flap

Selected by the Times Literary Supplement as one of the "hundred most influential books since the war"

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 eighteen languages, and shows every sign of becoming more and more influential as time goes on.

See all Editorial Reviews

Product Details

• Paperback: 230 pages
• Publisher: University Of Chicago Press; 1 edition (November 15, 2002)
• Language: English
• ISBN-10: 0226264211
• ISBN-13: 978-0226264219
• Product Dimensions: 7.9 x 5.2 x 0.7 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (106 customer reviews)
• Amazon Best Sellers Rank: #1,452 in Books (See Top 100 in Books)
  • #2 in Books > Professional & Technical > Professional Science > Earth Sciences > Geography > Regional
  • #9 in Books > Politics & Social Sciences > Government     > Democracy
  • #27 in Books > Business & Investing > Popular Economics

More About the Author

Milton Friedman is a senior research fellow at the Hoover Institution, Stanford University, and the Paul Snowden Distinguished Service Professor Emeritus of Economics at the University of Chicago. In 1976 he was awarded the Nobel Prize in economics. He has written a number of books, including two with his wife, Rose D. Friedman---the bestselling Free to Choose and Two Lucky People: Memoirs, the latter published by the University of Chicago Press.

Customer Reviews

Most Helpful Customer Reviews

122 of 143 people found the following review helpful:

5.0 out of 5 stars CLASSIC ECONOMICS, FRIEDMAN'S BEST, August 13, 2004

By 

Denis Benchimol Minev "Amazonia" (Manaus, Amazonas, Brazil) - See all my reviews
(VINE VOICE)   

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This review is from: Capitalism and Freedom: Fortieth Anniversary Edition (Paperback)

Milton Friedman is one fo the strongest proponents of freedom in society as the only way towards development (a concept later expanded by Amartya Sen). This book is not an economics textbook, since he does not spend much time on the basic concepts of economics such as price theory. He assumes a bit of knowledge and uses it to make the case for many different economic ideas ranging from macroeconomics (monetarism) to microeconomics (school vouchers).

For a book that was written in the 60s, it is amazing how current his ideas remain. It is perhaps the most important book on the libertarian philosophy, focusing on preventing the accumulation of power by any individual or group of individuals in society.

Overall, it is a great read for someone familiar with economics and social sciences, it will definitely expand your horizons of thought. However, if you are looking for an introduction to interesting eocnomic ideas, I would suggest you read Free to Choose, which Friedman wrote a dozen years later to reach a more general audience.

15 of 16 people found the following review helpful:

5.0 out of 5 stars Simply a great read., March 2, 2010

By 

Sareinhart - See all my reviews

This review is from: Capitalism and Freedom: Fortieth Anniversary Edition (Paperback)

I bought this book because I understood that Milton Friedman was a leader in (classical) liberal (meaning libertarian) economic thinking. Now I see why. Pure genius. This book appears to be written to the general public, although I must say that if are a complete stranger to economics certain parts of this book may confound you. I am a beginning student of economics, and only 2 paragraphs were out of my grasp. It's true, some of this book was a little dry, but those sections were short. The scope of the book is surprisingly wide for it's size (202 pages in this edition)-yet it's level of detail is satisfying.

Friedman's arguments were compelling and well constructed.

If you are a progressive, (modern) liberal, socialist, statist, marxist (or whatever else) and want to know what free-trade libertarians believe-this is to book for you.

If you are an economic conservative or a libertarian (as I am) and you want to read a great book that will make you smile-this is the book for you.

Overall a fantastic book.

77 of 97 people found the following review helpful:

3.0 out of 5 stars Decent, but Consider his Better Books, April 5, 2007

By 

T. Carlsen - See all my reviews
(REAL NAME)   

This review is from: Capitalism and Freedom: Fortieth Anniversary Edition (Paperback)

I liked his other books more. "Capitalism and Freedom" has many of the downfalls of dry, boring academic writing. Also, Friedman makes rigidly-ideological attacks without support which, in retrospect, are clearly distorted and embarrassing, hurting the authority of his ideas. Instead, Milton Friedman's best book for general readers is Free to Choose: A Personal Statement. I recommend that book instead. He wrote that book later in his career and, mercifully, gets straight to his message and is easier to read.

Readers interested in free markets should read the outstanding introduction to economics called Naked Economics: Undressing the Dismal Science (Fully Revised), which is easy to read for general readers. Also consider the masterpiece economic history of the United States and capitalism called Empire of Wealth: The Epic History of American Economic Power

For a contrary view from Friedman (but still based on economics), read Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism, which shows that actual business history shows that government investments in the economy and protections have been needed to create abundant wealth.