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Capitalism and Freedom (Unabridged)
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Capitalism and Freedom (Unabridged) [Audio Download]

by Milton Friedman (Author), Michael Edwards (Narrator)
4.2 out of 5 stars  See all reviews (25 customer reviews)
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Product details

  • Audio Download
  • Listening Length: 6 hours and 59 minutes
  • Program Type: Audiobook
  • Version: Unabridged
  • Publisher: Blackstone Audio, Inc.
  • Audible.co.uk Release Date: 6 Dec 2012
  • Language: English
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (25 customer reviews)
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Product Description

Milton Friedman argues that the appropriate role of competitive capitalism occurs when the majority of our economic activity flows through private enterprise within a free-market environment. This is unequivocally the most effective device for achieving economic freedom, as well as the necessary condition in which political freedom can be attained. Friedman's arguments are positively bold, enlightening, and impacting. Among the specific topics he addresses are "The Control of Money", "Fiscal Policy", "Capitalism and Discrimination", and "Social Welfare Measures".

Milton Friedman (1912-2006) was perhaps the most influential economist of the 20th century. Professor, columnist, author, and advisor, he was awarded the 1976 Nobel Prize in economic sciences.

©1962 The University of Chicago; (P)1989 Blackstone Audio, Inc.

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Customer Reviews

Most Helpful Customer Reviews
10 of 12 people found the following review helpful
4.0 out of 5 stars Read it if you want to understand capitalism 18 April 2011
The book is of course a classic. I don't want to give a detailed academic review or critique, because I'm not qualified. I just want to explain its personal relevance to me.

I came to this after thinking about abstract questions after the financial crash in 2008. What are the theoretical justifications for the free market? What are the theoretical / pragmatic justifications for regulation? Should banks be regulated more? How can capitalism be evolved to reduce the risk of financial crises? How can capitalism deal with the risks of climate change if the costs of climate change are not priced into the market?

Friedman's philosophy is pretty right-wing.... Flat rate income tax of 20% (if I recall correctly). Privatise pretty much everything. But not *everything*. Some government spending is justified because of so-called neighborhood effects. E.g., subsidise poor families to send their kids to school. If not, society as a whole loses out. Some government regulation is justified. E.g., regulation to reduce environmental harm. If not, the market will allow environmental harm and society as a whole will lose out.

This book is pretty much the bible for a huge school of liberal economics that is prevalent in many parts of the world. It's important to read it, *especially* if you are not convinced by the free market. Sometimes I wanted the author to go further with his arguments. For example, he certainly didn't convince me about flat-rate taxation (his main argument appeared to be that tax avoidance is easier to avoid if there is a flat-rate). However, all in all, this is a classic that is worth reading for its rhetoric, breadth (it talks about so many areas of government policy), and importance.
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31 of 38 people found the following review helpful
By Nicholas J. R. Dougan VINE VOICE
Format:Paperback|Verified Purchase
I became vaguely aware of Milton Friedman in the 1980s, when he was often referred to as the favourite economic guru of Thatcher and Reagan, the founder of "monetarism" as a new school of economics. He was disliked by the left, and there were dark mutterings about his involvement with some of the less pleasant South American regimes of the period.

More recently I was referred to some excellent video clips of Milton Friedman on YouTube, and became interested in how his views fitted into economic thinking as a whole. I also became aware of economic libertarianism, expounded by such organisations as The Cato Institute (publishers of some of the sceptical volumes on man-made global warming theory, but with a much wider range of interests than that) and The Von Mises Institute, that seems to have quite an extreme view as to how limited the role of the state should be. Private justice, anyone?

Capital and Freedom was Friedman's seminal popular work, published in 1962 and based on a series of lectures that Friedman had delivered in the mid to late 1950s. Other popular works include Free to Choose, written jointly with his wife and published in 1980. He doubtless wrote scores of more technical papers in between. Friedman's economic hypothesis is that free market capitalism is the most effective mechanism for organising economic activity and growth, and that it thrives best when the government intervenes in it as little as possible. This economic hypothesis is allied to a strong personal conviction for individual liberty, that men should as far as possible be left to do as they choose so long as their actions to not have injurious effects on others - a philosophy stated emphatically by the founding fathers of the United States.
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26 of 34 people found the following review helpful
5.0 out of 5 stars Highly Recommended! 14 Jun 2004
By Rolf Dobelli TOP 500 REVIEWER
This is a new edition of Milton Friedman's classic 1962 capitalist manifesto. As such, it was ignored, spurned and hated for decades by the intellectual, post-Keynesian establishment. In the 60s, Friedman once found himself debating a liberal who attacked him by simply reciting Friedman's views of the proper role of government. This was working rather well with the audience of college students until he quoted Friedman's opposition to the military draft. Friedman suddenly found himself awash in the unexpected cheers of students. Perhaps it was a foreshadowing of his career. Friedman won the Nobel Prize in Economics in 1976, and his ideas gained some degree of mainstream acceptance in the Reagan years - although many of his thoughts remain controversial. To the extent that Friedman debunks myths about the Great Depression that are widely accepted as fact, perhaps he has a point about the semi-privatization of education. We strongly recommend this volume to those who seek a deeper understanding of government's role in a free-market economy.
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9 of 12 people found the following review helpful
5.0 out of 5 stars This book changed my life... 29 Oct 2011
Reading this book on recommendation of a uni friend has changed the way I look at the world. Friedman's relentless logic in the face of the ridiculousness of government intervention gave substance and articulation to, what I had perceived to be, the idiotic "the market will solve it" approach. My favourite chapter is by far the one of positive discrimination; I never thought it possible for a man to convince me that anti discriminatory laws are injust.

Whilst I was not quite a socialist before I read this book, I certainly believed in government intervention. I would recommend anyone of any political persuasion to read this before they ever scoff at the free market viewpoint again; you can never truly understand it until you read this very short and approachable book.
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Most Recent Customer Reviews
5.0 out of 5 stars From my point of view
This, like most of my purchases, was bought as a present, in this case in response to a specific request. Read more
Published 3 months ago by grumpy
4.0 out of 5 stars Very well written look at politics and economics
A classic. Friedman gives answers to questions that are just as relevant today as when it was written, decades ago. Extremely lucid writing.
Published 3 months ago by Steve Morris
5.0 out of 5 stars Terriffic intro to free-market thinking...
Reading Milton Friedman for the first time can be an overwhelming experience. The wealth of ideas coupled with the wry delivery and almost John the Baptist like certitude with... Read more
Published 9 months ago by os
4.0 out of 5 stars Very enjoyable
Can't ignore the power of this man's convictions even if latterly he has been proved to be somewhat limited in visionary prowess.
Published 9 months ago by John Goodfellow
3.0 out of 5 stars An ideologue
It has taken me some time to read Freidman and I think there were no surprises. He writes convincingly and delivers some home truths about the failure big government. Read more
Published 11 months ago by Timsread
5.0 out of 5 stars A Giant.
Why endeavour to say more than that? Oh, yes - a communicating and understandable giant...Read him - again and again!
Published 13 months ago by Per Harbo
5.0 out of 5 stars A great book that should be treasured by all freedom lovers.
This is a great book by an extraordinary economist and political thinker, who firmly defended Individual Freedom and Diversity throughout his life. Read more
Published 20 months ago by Prof. Joao Eduardo Gata
5.0 out of 5 stars More relevant than ever
The financial crises has given me a great interest in economics and Milton Friedman here, spells out his ideas. I found it deaply interesting and very radical. Read more
Published on 21 Jan 2012 by Brendan
1.0 out of 5 stars The other side of the coin
The world in 2011 is seeing the policies set out in this book operating in their full. Whilst Democratically Elected Politicians are forced to resign (the Greek and Italian... Read more
Published on 15 Nov 2011 by J. Hudson
5.0 out of 5 stars Economic freedom is the best guarantee of personal freedom
The link between economic and political freedoms has been supported for a long time, and Milton Friedman's "Capitalism and Freedom" is one of the more important texts in that... Read more
Published on 20 May 2011 by Dr. Bojan Tunguz
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