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The authors use everyday examples, such as "investment in a newly formed small business" to make their economic processes more understandable to anyone who understands modern business, and this is one of the things that makes this book so readable, and so fascinating, even for someone who might not be that interested in economic theory and practice.
The Friedman's support many ideas that would reduce the authority of government in many economic areas, including the "negative income tax, the volunteer army, an improved method of auctioning Treasury securities, the monetary rule for achieving price stability; the voucher system for education, the flat tax, and flexible exchange rates" (Jordan et al. 199). It is quite amazing to see just how many of these Friedman ideas have made their way into our business and political world, including the volunteer army, the educational voucher system, and flexible exchange rates, to name a few. It is clear the authors are experts on the economy, and that they have some...
It clearly explained concepts and ideas, and opened up new areas to explore and discuss. Reading about the Friedman's themselves was equally rewarding, as they seem like genuinely nice people who have some revolutionary thoughts and ideas. Friedman has been called the "Economist of the Century," and it is easy to see why with this book. That it endures nearly 24 years after it was first written is one clue that it is an important piece of work. It is enjoyable to read, and makes sense even to those not familiar with economic theory. Reading it more than once is certainly an option, and it is certain even understanding would come with each additional reading.
Works Cited
Economist of the Century." The Washington Times 3 Aug. 2002: A11.
Friedman, Milton and Rose. Free to Choose: A Personal Statement. New York: Harcourt, Inc., 1990.
Jordan, Jerry L., et al. "Milton, Money, and Mischief: Symposium and Articles in Honor of Milton Friedman's 80th Birthday." Economic Inquiry XXXI.2 (1993): 197-212.
Oi, Walter Y. "Milton Friedman, Starting His Ninth Decade." Economic Inquiry XXXI.2 (1993):…
Works Cited
Economist of the Century." The Washington Times 3 Aug. 2002: A11.
Friedman, Milton and Rose. Free to Choose: A Personal Statement. New York: Harcourt, Inc., 1990.
Jordan, Jerry L., et al. "Milton, Money, and Mischief: Symposium and Articles in Honor of Milton Friedman's 80th Birthday." Economic Inquiry XXXI.2 (1993): 197-212.
Oi, Walter Y. "Milton Friedman, Starting His Ninth Decade." Economic Inquiry XXXI.2 (1993): 194-196.
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This means that those providing the bulk of the revenue to the State are not the same as those receiving it. Those receiving (without paying) would naturally prefer more government hand-outs; if they are in the majority, the danger is that government can continue to grow, and command a "rent" which reduces overall productivity. Is the argument of the Friedmans viable and workable? The program "Free to Choose" was aired