Milton Friedman: A Biography (Paperback)

by Lanny Ebenstein (Author)
Key Phrases: flexible international exchange rates, transitory income, private property capitalism, United States, University of Chicago, Great Depression (more...)

Editorial Reviews

From Booklist
Ebenstein creates a picture of Milton Friedman, one of the leading economists and political philosophers of the twentieth century, as not just a revered economic theorist but also a public intellectual. Ebenstein begins with Friedman's childhood and early career, moving through his long tenure as an economist at the University of Chicago, and completes the book with a picture of Friedman as a renowned public figure. Completed before Friedman's death, in November 2006, the book espouses Friedman's beliefs in libertarianism, the free market, and capitalism. He was known for his controversial stances and powerful influence on leaders of the day. Through lengthy interviews with Friedman and his wife, Rose, a picture of him as family man, Nobel Prize winner, and advisor to multiple presidents emerges. Ebenstein's attention to detail and copious quotes from others who knew Friedman well make for an engaging picture of one of America's most important economic theorists. Gail Whitcomb
Copyright © American Library Association. All rights reserved --This text refers to the Hardcover edition.

Review
First post-mortem tribute to the most influential champion of the free market since Adam Smith. Actually, Ebenstein (Economics and Political Theory/Univ. of California, Santa Barbara) refers to his subject throughout in the present tense, apparently not having had the opportunity to update his text since the economist's death, on Nov. 16, 2006. Born in 1912, Milton Friedman was a puissant teacher and leader of the so-called Chicago School of economic theory. He also splendidly fit the modern job description of a public intellectual. With just a nod to his personal life, this tribute lauds Friedman as philosophical technician and theoretical guru of modern day laissez-faire. Perhaps, posits the author, he is the Karl Marx of libertarianism. Ebenstein quickly covers the economist's early academic years and break for service as a WWII mathematician, before really getting going with Friedman's return to the University of Chicago in 1946. He uses examples from scholarly writings to illustrate the economist's evolution from possible early liberal tendencies to full-blown libertarianism. Readers will find summaries of Friedman's thoughts on statistics, political economics, price theory and consumption function, savings and investing, supply and demand, permanent and transition income, money and banking. The influential 1963 text A Monetary History of the United States, 1867 - 1960 presented a revisionist view of the Great Depression, arguing that the New Deal was "the wrong cure for the wrong disease." Regarding welfare, Friedman concluded, "government should not provide for the indigent, unemployed, elderly, sick, and disabled." The free-market hero, with the help of wife Rose, wrote potently. He promoted his ideas in a PBS series. He supplanted John Maynard Keynes in the hearts of many theorists, won a Nobel and influenced generations with his powerful intellect. Ebenstein, clearly persuaded by the libertarian views of his revered subject, finds little fault with his hero in this dry hagiography executed with as much verve as an economist can muster.An economic biography for economic theorists, particularly those on the right. (Kirkus Reviews) --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Paperback: 272 pages
• Publisher: Palgrave Macmillan (January 6, 2009)
• Language: English
• ISBN-10: 0230604099
• ISBN-13: 978-0230604094
• Product Dimensions: 8.8 x 5.8 x 0.9 inches
• Shipping Weight: 11.4 ounces (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #953,166 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

7 of 8 people found the following review helpful:

4.0 out of 5 stars A Good Read, March 11, 2007

By	Ian Mackechnie - See all my reviews (REAL NAME)

This review is from: Milton Friedman: A Biography (Hardcover)

I approached this book with both a sense of excitement and apprehension; excitement because of the subject,and apprehension having been disappointed by Ebenstein's previous works on Hayek.

However, given the constraints of dealing at great length about every aspect of the life and works of Friedman in such a short work, this volume is very readable and provides an acceptable summary of the great man until someone provides a thoroughly researched and comprehensive work on Friedman, similar to Skidelsky on Keynes.

I finished the book in almost one sitting so it was gripping ...

5 of 6 people found the following review helpful:

5.0 out of 5 stars Great insight into the life of a great man, October 20, 2007

By	Eduardo G. Veiga (Baltimore, MD United States) - See all my reviews (REAL NAME)

This review is from: Milton Friedman: A Biography (Hardcover)

A great read into the life of this fascinating man who was one of the most influential thinkers of the twentieth century. It is tough to understate Friedman's influence, inside and out of economics: school vouchers, voluntary army, floating currencies, monetarist view of inflation, the death of Keynisianism. The book is also an excellent read for those interested in the history of economic thought and especially of the 'Chicago School'. Last but not least, the author gets the economics right, which is a rare feature in a book that delves into economics. That alone is worth four stars.

1 of 1 people found the following review helpful:

2.0 out of 5 stars high school quality writing... , November 7, 2008

By	A Customer - See all my reviews

the only friedman kindle bio. waste of money due to poor writing. 5 word sentences. agonizing. poor depiction of a brilliant man. high school book report quality. reads like this review. 2 stars only because even stagnant putrid water is good in a desert.