3 of 3 people found the following review helpful
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 which he preaches his version of the economic gospel all make for a challenging, if not occasionally infuriating read.
The central pillars of Friedman's thinking are deceptively simple...
Published 24 months ago by os
1 of 2 people found the following review helpful
3.0 out of 5 stars If you want a good idea of Friedman's liberatarian political philosophy this is a ...
Whether you're a conservative, socialist, or classical liberal/libertarian Milton Friedman isn't the place to start.
Friedman is generally considered a gold standard in free market thought, but this opinion is naive and superficial. When Paul Krugman (keynesian) debated Ron Paul he was able to use Milton Friedman's monetary theory to give the impression that...
Published 9 months ago by Science n history
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4 of 8 people found the following review helpful
5.0 out of 5 stars A manifesto for liberty.,
This is the work of classical liberal considering how a free society should operate and what role the state has in a free society. To do this he considers some of the cases where the automatic assumption among many is that the government has to regulate, ban or provide services and argues, usually persuasively, that government intervention causes more problems than it can hope to solve.
There are instances where he proposes an idea that seems so extraordinary that it appears that only a madman, an ideologue or someone living in a fantasy world could even consider it, such as the case that abolishing medical licences for doctors would improve patient care, but then after examining the case it great detail the underlying assumptions believing in a need for licensing are demonstrated to be much weaker than initially believed.
The fact that it was written in a time when the intellectual climate was very hostile to classical liberal ideals is reflected in the manner in which he writes to persuade those who disagree with him rather than simply to preach to the converted, as so many current authors do.
As the title suggests capitalism is inextricably intertwined with democracy and that despite the sincere desires of those who wish otherwise, political freedom cannot survive without
This edition of Milton Friedman's seminal advocacy of classical liberalism includes two additional prefaces, one from 1982 and from 2002, in which Friedman discusses how his ideas have developed over the course of the previous 30 and 50 years. When the book was first published the ideas had no takers on the political stage, the age of free markets had died after the Great Depression. Yet by 1982 a few countries had elected government's sympathetic to his ideas and by 2002 some of his policies had been implemented with great success throughout the world. Whilst Friedman credits most of that to the experience of thestatist experiment rather than his advocacy of freedom he is being modest.
5.0 out of 5 stars 100% satisfied,
10 of 19 people found the following review helpful
4.0 out of 5 stars Excellent. A classic relevant today.,
By A Customer
It is surprising how relevant this book is to the present state of affairs having been written originally in the 60s.
Friedman goes through the issues of capitalism, freedom and related issues on an easy to understand manner; with a few exceptions where he gets a bit too technical for the general public (e.g. monetary policies). Nevertheless a very enlightening text by the Noble price.
A must read for anyone interested in liberalism, economy and politics.
4.0 out of 5 stars Four Stars,
10 of 20 people found the following review helpful
5.0 out of 5 stars Outstanding,
Friedman is a very intuative economist, of this there can be no doubt. However, his correct intuition, in my opinion, stretches no further than economics. His chapter on political freedom for instance, has many holes in it, and although he raises some very thought-provoking ideas, in the end I felt it impossible not to disagree on many counts.
This said, I would strongly advise this book to anyone, beginner or advanced; it's simple style that presents challenging ideas will suit almost all readers.
5 of 12 people found the following review helpful
5.0 out of 5 stars Capitalism: a prerequisite for freedom,
This is a small book so I thought it would be a quick read. However it took me quite a while to get through. There are a lot of concepts and logical arguments that demand you go back and reread.
Free speech, free press, these are the things people think about when talking about freedom. You don't really think about the concept of economic/financial freedom and how limits placed on these by government policy can affect individual freedom. You don't see people protesting for financial freedom but the two are closely tied.
Capitalism and Freedom, written in the early 60's by the famous economist Milton Friedman, provides a novice like me a history on how capitalism has worked in the past and how it is working now. It mainly covers US policy but these are relevant to other capitalist systems. After reading this book you realise that the problems that are around now are the same problems that existed in the past. In the media when you see stories of parents complaining about which state run schools they can send their kids to and the problems with the National Health System for example, you see that freedom encompasses a whole lot more than just freedom of speech. If you're ill, it can prevent you from choosing which hospital you are treated in or the treatment itself, if you have kids which school you are allowed to send them to. Recently in Britain (2009), a parent was in criminal court over fraud charges related to the address she used to register her child in a school (in an attempt to get her child into a good school). Luckily for her the case was dropped.
The book is littered with interesting financial facts from the past; for instance there was prohibition on owning gold bullion in the US and after World War II Brits were not allowed to vacation in the US because of exchange control.
I recommend this book but be warned that it's not an easy read. It is rewarding when you actually understand what is being talked about on the news and you can have an informed opinion about it.
2 of 6 people found the following review helpful
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. But he is a fundamentalist and ignores the failures of neo Paternalistic-classical economics for his own agenda. His work is rooted in the assumption that capitalism is inherently stable. Of you accept this his writing is difficult to argue with. However I would suggest recent events prove otherwise. His analysis of th great depression is a convoluted excuse that is an absolute contradiction in terms of u understanding today's monetary failure.
5 of 13 people found the following review helpful
3.0 out of 5 stars A warning for our times, if a bit late...,
Now is the time to get this book. If you wondered about how Big Ideas work in reality first look at communism, then read this book and look around you. Big Ideas do not work!
15 of 36 people found the following review helpful
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 leaders being the latest) the "Tecnocrats" step in and sell off State Assets well below their true value.
There is an unpalatable yet inescapable fact that lurks beneath the surface here - friedmanism cannot function in a democracy - or rather freidmanism stops democracies from functioning properly. Darker still is the "shock therapy" that is required for friedmanism to see its full expression. I would point readers to "The Shock Doctrine" by Naomi Klein before they sing the praises of this man or the policies he expounds in this book.
13 of 35 people found the following review helpful
1.0 out of 5 stars Wobbly Typeface,
The content maybe good. I have still to make up my mind if Milton's policies are responsible for selling off national assets round the globe and impoverishing milions. However its hard to get past the wobbly type face on this cheap book. It really is a low quailty print that looks like its been printed on someones dot matrix printer from the 80s.
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Capitalism and Freedom: Fortieth Anniversary Edition by Milton Friedman