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The Indispensable Milton Friedman: Essays on Politics and Economics Hardcover – October 2, 2012
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Milton Friedman is one of the most famous economists in history, and with good reason. He revolutionized our understanding of the Great Depression, helped establish the Chicago school of economics, and was awarded the Nobel Prize in economics. But eclipsing these achievements is the vital role he played at the crux of the long debate over capitalism in America. The 1970s was an all-time nadir for free market economics in the popular imagination. At the time it seemed that state management of the economy had finally triumphed. It was Friedman who almost single-handedly kept the argument for capitalism alive, stressing that the free market is the only way to achieve prosperityand retain personal liberty.
The Indispensable Milton Friedman is the first general collection of Friedman’s writings that spans his entire career, offering twenty scintillating essays selected from over five decades of writing, teaching, and researchincluding some that have never been republished. These essays provide always-fresh insights into topics that continue to drive the public debate today, from health care reform and drug legalization to school vouchers and the economics of John Maynard Keynes.
Among the indispensable writings included in this book:
- Liberalism, Old Style” (1955), discusses the transformation of the original meaning of liberalism
- The Counter-Revolution in Monetary Theory” (1970), his most important lecture on monetary policy
- The Tide in the Affairs of Men” (1988, coauthored with his wife, Rose D. Friedman), traces the progression from the explosion of capitalism in the eighteenth century to the rise of the modern welfare state
- How to Cure Health Care” (2001), his elegant and commonsense plan for health care reform is a solution vastly superior to Obamacare
The Indispensable Milton Friedman provides insight into the far-reaching thought of one of the twentieth century’s most influential men. It will also arm readers with crucial understanding about what it meansand what it takesto be truly free. It deserves a place on the bookshelf of every true proponent of the free market.
Top Customer Reviews
That question is provoked by reading another essay, written in 2001, that makes the case that government intervention is responsible both for the sharply increasing costs of health care and for the rising dissatisfaction with the delivery of that care. Unfortunately, it looks as if what even a Democratic Senator is now calling the coming "train wreck" of Obamacare will prove the truth of Friedman's argument that less government involvement, not more, is the only solution to the problem.
Similarly prescient is the 1989 essay warning that tremendous damage will be done unless drugs are legalized, just as prohibition damaged American society earlier in the century. A generation later, our jails are filled with drug offenders being transformed into hardened criminals - and the useless hand-wringing continues.
The health care essay, as well as a number of others, suffers from the editors' decision to leave out the charts in the original versions. Some authors may include charts primarily for academic respectability or for decoration, but Friedman uses them to distill the essence of his argument, so it's a shame they're missing.
Most Recent Customer Reviews
Good book- where is Friedman when we need him and his Ideas? His ideas will live on in this book.Published 3 months ago by Rabbi
Good book, Delivery was prompt and experience was within expectations.Published 16 months ago by Patrick R. Thomas
A relatively easy read that covers an incredible amount of economic, political and social landscape. Read morePublished on January 26, 2014 by Patrick
I am a MBA working as an analyst. This audio book provides some very thought provoking concepts. I understand why Friedman is still talked about to this day.Published on January 24, 2014 by Willard C Lipe