Milton Friedman was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. Free To Choose was published in 1980.
“A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both. -Milton Friedman”
These are my takeaways from this book
- There is an intrinsic value in the relationship between economic and human freedom.
- Friedman demonstrates why a free market economy is better for a society and why it preserves individual dignity.
- Friedman demonstrates why choices are the business of the individual, and not the government.
- He demonstrates how the market can protect the consumer and worker.
- Friedman make sound arguments about the difference between equal opportunity and equal outcome.
- Friedman reveals how the educational system can benefit with a free market approach.
- He also talks about how our freedom has been eroded and our affluence undermined through the explosion of laws, regulations, agencies and spending in Washington.
“One of the great mistakes is to judge policies and programs by their intentions rather than their results. -Milton Friedman”
Once you read the whole book you can see Friedman’s clarity of thought, logic and candor. Back in the 1980’s PBS developed a TV series based on this book. This series helped people understand the relationship and ideas of human and economic freedom. This is still relevant today!