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Capitalism and Freedom: Fortieth Anniversary Edition, by Milton Friedman
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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.
- Sales Rank: #4343 in Books
- Published on: 2002-11-15
- Released on: 2002-11-15
- Format: Deluxe Edition
- Original language: English
- Number of items: 1
- Dimensions: 8.00" h x .70" w x 5.25" l, .48 pounds
- Binding: Paperback
- 230 pages
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.
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.
Most helpful customer reviews
0 of 0 people found the following review helpful.
A polemic on philosophers of both economics and political philosophy that fail to accept the "real world"
By Charles B.
This is a fairly dense book. In the sense that if you don't know some of the basic key economic concepts and philosophers that Friedman references, then you will be totally lost and have to re-read full chapters to get the ideas. It took me a month to work through this book, basically having to re-read whole chapters because some of the explanations that Friedman uses get confusing as be jumps around. That said, to me in reading this and thinking about it; the book is probably misunderstood by most of the general public that attempts to read this. It appears that Freidman presents a libertarian ideals of how the economy could run and that a capitalistic economic theory. At the same time he shows how the Keynesian, Engles/Marx philosophy can't work in some of their ideas because the empirical data from both history that they can't work. Then also explains how some of the ideas that are popular in both the Keynesian and Marx economic philosophy can't work when applied to the logical end since they would violate other portions of those related to basic economic philosophy and just the general idea of other economic principles such as basic ideas of Monetary Policy or Fiscal Policy. When viewed thru this idea, then this book is an interesting philosophy book about both political concepts, economic theories and showing that if we even apply some basic logic of philosophy concepts from Plato or Kant or similar. To me once I took this idea on that what Friedman is doing, at least in my mind, he is presenting is not only a polemic on Keynesian and Marx economic theory; but also on most all economic theories and philosophies as a whole. Since, as he states numerous times in most of the chapters, that these theories are idealized and perfect worlds. Rather than the history has shown constantly and as he reviewed the data with his students, that theory was nice until it hit harsh reality. In that sense this book should be idealized as an economic or political treatise as some put it. Rather it should be viewed as a harsh attack on the philosophers who are unwilling to view reality as it actually happens and properly interpret the human condition on their philosophies. As well as those that try and hand wave away those questions from folks with the "What about ... when ... happens?" sort of concerns. When I re-read some of the chapters later after viewing what I have interpreted Friedman's theme, then some of his explanations and concepts became a little clearer and even he showed that they weren't perfect, but it would be an interesting thought experiment if they were tried.
227 of 263 people found the following review helpful.
CLASSIC ECONOMICS, FRIEDMAN'S BEST
By Denis Benchimol Minev
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.
0 of 0 people found the following review helpful.
If you like listening to a robot...
By A. Vily
I purchased this in hopes that I would listen to this during my long commutes but the sound quality was very poor and narrator was very disappointing and sounded so robotic. I do not recommend this at all as you will likely fall asleep while listening to this.
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