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Summary: clear language, but much wishful thinking
Review: This book is well-written and a clear synopsis of conservative economics, but the authors' assertions are often uncanny in their factual distortion: e.g., "unskilled" workers would be better off if there were no minimum wage; advertisers do not distort the truth about their products; the Great Crash of '29 was not a failure of the capitalist profit system. I do not recommend this book.
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Summary: A must-read classic on free market economics
Review: This book is why Milton Friedman won the Nobel Prize. Even written 20 years ago, this book is the clearest explanation I have seen on free market economics, the workings of the Federal Reserve, the real cause of the Great Depression and 20% inflation in 1979. Would greatly recommend it to those interested in free market, libertarian ideas and economics.
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Summary: Revolution
Review: This book revolutionized my thoughts and opinions regarding the role of government in our daily lives. Anyone who questions the importance or relevance of a free society, economically and socially will be changed by this book. And anyone who already agrees with Milton Friedman's thoughts on these subjects will also benefit from this book.
A must read for anyone interested in capitalism, free markets, government policy or freedom.
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Summary: Understand Reaganomics
Review: This book was written about the same time that Ronald Reagan began his years in the Oval Office. Milton Friedman's economic views influenced Reagan's policies and helped turn around the nation's economy in the 1980s.
It is very interesting to read this now -- a quarter of a century later. At times Friedman sounds like a prophet, predicting accurately the results of economic policy. At other times it feels as if this book was written yesterday. Ideas that are hot political issues today (like school vouchers) were discussed in much the same manner in 1980.
This is a classic book and a "must read" for those that want to understand the power of free markets and capitalism.
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Summary: Wonderfully clear statement of how market economies work
Review: This is a book I have recommended to people for many years and still urge people to read. I urge you to read it. Especially now when there are many forces rising who dream that if only the good hearted could let government fix things for us all the evils in the world would be done away. This is an ignorance that failed during the last century and has simply bought a new suit and is trying to take the stage again. If you want to see more clearly the kinds of things we will be facing if we go that route again this book is an excellent primer. The authors show us the unintended consequences of government action. Most helpfully, they help expose the mischaracterizations of the arguments for market economies and free trade. The sad thing is that the present generation has not lived under the government foolishness of the New Deal through the seventies and so the siren song of the socialists (now once again hiding behind the noun Progressive) is appealing. It would be so simple if there were just one bad guy (and given today's politics it is always a guy or Margaret Thatcher) whom we could denounce and ring in Paradise. It isn't that simple. But it helps to have a foundation on which to build a good intellectual framework. The work of Milton Friedman is a great place to start. This book is a nice introduction to his work. His wife Rose is such a nice writer and herself a good thinker and explainer that this book is a delight to read. Really, this is fun stuff. Really...
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Summary: A commonsense, prophetic defense of freedom and capitalism
Review: This is a wonderful, concise, accessible, prophetic, commonsense defense of the free market for the lay person. Friedman lucidly explains how free markets operate to deliver goods and services in an efficient manner; how markets transmit information; and how well-intentioned government activity and regulation distorts market information and hampers the efficient delivery of goods and services. Additionally, history has shown his advocacy of school vouchers and of privatizing government retirement programs, considered radical ideas in 1979, to be justified. Voucher programs have been instituted in Milwaukee and Cleveland and have been remarkably successful. Chile privatized it's "Social Security" system, among other Friedman-inspired reforms, and it's economy has grown at 7-8% over the course of the last decade. My only criticism is fairly minor. The author assumes the premise that people should be "free to choose," that is, free to make purchasing decisions without government interference (coercion). This is the first principle of libertarian economic argument, a principle of which I am in full agreement. But what does it rest on? Why should people be free to make economic decisions free from coercion? I would argue, and I assume Frieman would agree, that we are endowed by our Creator with certain unalienable rights, among these are the rights to life, liberty and the pursuit of happiness. "Liberty" as understood by the Founding Fathers included economic freedom. At it's root, the case for a free market is a moral one. If we are to regain our economic freedom we must regain the profound, fundamental, first principles of our nation's founding. Otherwise, a remarkable, influential book. Highly recommended for the remaining Marxist professors leaching off the proletariat taxpayers at our government universities.
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Summary: Friedman's best, political philosophy's best
Review: This is the one book that explains libertarian political and economic philosophy more clearly and more persuasively than any other book in print. Although it is more than twenty years old, it is still highly current and could have been published yesterday.
Part of Friedman's brilliance is his ability to explain intricate economic concepts to general readers without "dumbing down" the substance. Friedman ran a column in Newsweek from the mid-1960s through the early 1980s, and many of the ideas discussed in those columns are contained in Free to Choose. The result is a well-polished, highly readable exposition of the merits of free markets, small government, rules-based monetary policy, and other topics such as the welfare state, education, government regulation, and trade unions.
If your intent is to read only one book by Milton Friedman, Free to Choose should be the one. But after you finish, you're likely to want to read Capitalism and Freedom as well. Arguably, Capitalism and Freedom is slightly more theoretical and reads a bit more dated, while Free to Choose is more practical and still very current. My personal preference would be to read them in chronological order of publication (i.e. Capitalism and Freedom first), but you can really read them either way.
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Summary: user-friendly economic theory
Review: Though commonly believed to be a more practical exposition of the subject treated in Capitalism and Freedom, this book has merits of its own. The first five chapters, I believe, make the point of how is it that the market works (and, like it or not, it works), how is it that things ended up being the way they are, and what is the (clear) argument for the cause of freedom. From then on the book gains momentum and the Friedmans further develop their "personal statement". A "must" in the shelf of the liberal (the true liberal, that is), the dogmatic socialist who likes a good fight, and the politically undecided (if he does not mind to change his status). FB
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Summary: What? I can only give it 5 stars?
Review: We are interacting on a medium that proves Friedmans' theoryperfectly. For 25 years government and universities ran theInternet. It had lots of good information on it. Technically, any of us could have gone online during that time--and a small handful did. As soon as the ".com" ("commercial") was added in the mid-1990's, however, ZOOM! It is precisely to meet the "selfish" end of the "greedy" capitalists that we have the well-used, relatively user-friendly Internet of today, and the far, far better Internet we will have tomorrow. Meanwhile, what does the government want to do with the Internet? Censor it. Control it. Regulate it to death. (Also have a look at Harry Browne's "Why Governments Don't Work.") Dr. and Rose Freidman's book is a must for anyone who wants to understand the creative process--whether it's creating wealth or creating social good.
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Summary: Friedman is a great defender of Liberty
Review: What can you say about this book. Friedman restates in an easyto comprehend (to those willing to comprehend and have an open mind)manner, the importance of the corelation between individual Liberty, Capitalism, and the engine of productivity. More liberty means greater advancments in society and greater wealth for all (who are willing to be productive). Rose and Milton Friedman are great thinkers and their books are fantastic. Economics can be interesting when presented properly. Friedman does.
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