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The international bestseller on the extent to which personal freedom has been eroded by government regulations and agencies while personal prosperity has been undermined by government spending and economic controls. New Foreword by the Authors; Index.
- Sales Rank: #6810 in Books
- Published on: 1990-11-26
- Released on: 1990-11-26
- Original language: English
- Number of items: 1
- Dimensions: 8.00" h x .97" w x 5.31" l, .75 pounds
- Binding: Paperback
- 338 pages
Review
"Excellent book….This reviewer has never read a more straightforward and simple statement of the present ills facing our society and what we as citizens in a democracy must do about them." --Chicago Sun Times
From the Back Cover
In this classic about economics, freedom, and the relationship between the two, Milton and Rose Friedman explain how our freedom has been eroded and our prosperity undermined through the explosion of laws, regulations, agencies, and spending in Washington, and how good intentions often produce deplorable results when government is the middleman. The Friedmans also provide remedies for these ills--they tell us what to do in order to expand our freedom and promote prosperity.
About the Author
"Milton Friedman" is a senior research fellow at the Hoover Institution of Stanford University. Before that, he was Paul Snowden Russell Distinguished Service Professor of Economics at the University of Chicago. He has also taught at Columbia University, the University of Wisconsin, the University of Minnesota, and Cambridge University. Among his many books are "Essays in Positive Economics, A Program for Monetary Stability, Capitalism and Freedom, A Monetary History of the United States", and "The Optimum Quantity of Money".
Most helpful customer reviews
683 of 730 people found the following review helpful.
The most life changing book I have ever read
By David E. Levine
As an assignment in his high school honors English class, my son recently asked me to name a book that had an impact on my life. My answer was "Free to Choose" by Milton & Rose Friedman. I grew up with fairly liberal views in a Democrat household. More than anything else, reading this book in the early 1980s changed my perceptions of reality. This book is most responsible for changing me into a conservative. Although I took four economics courses in college (and got high grades in each) and was a political science major, my views were never substantially budged until I read this great book.
It is written very clearly; you need not have an economics background to understand it. The arguments are clear and eloquent. Friedman demonstrates why the free market works best for the economy but more importantly, he demonstrates why the free market preserves individual dignity. Beyond mere economics, the free market is the most moral system. In so many areas, if you really think about it, choices are the business of the individual, not the government. When the government overtaxes us, it is not only bad for the economy, it is bad morally. Overtaxation enables the government to make certain choices and removes that decisionmaking from the individual. I think school choice is an example of this.
My son's teacher assigned him to read this book. Happily, he will be exposed to the lucid arguments for few governmental controls and greater choice among individuals. I highly recommend this book which had so great an impact on my life.
253 of 274 people found the following review helpful.
A Clear and Reasoned Defense of Liberty
By jmk444
"Free to Choose" (1980) is a great companion to Friedman's ten hour video presentation by the same name that appeared on PBS in the early eighties to rave reviews and some of the highest ratings in PBS history. The video series was extremely well done and taken right from this book.
Friedman explains how and why markets work, why minimum wage statutes hurt instead of help unskilled labor (they price entry level or "training positions" out of the market) and why the Great Depression happened (protectionist tariffs like Smoot-Hawley devastating trade between nations was the primary reason).
Like Hayek and von Mises before him, Friedman explodes the Keynesian mythology that government spending is actually good for the economy. Moreover, this book is written for the layman. You don't need a PhD in economics or a Nobel Prize (both of which Professor Friedman has) to understand this work. It is clear, concise and cogently written.
If you want to understand why the market is ineluctable, this is a must read...and if you get the chance, I highly recommend the companion video series - some of the best work done on explaining why the free market works and planned/controlled economies fail.
It as timely today (despite the dated references) because the free market still works (it always will) and command/controlled economies always fail...this book tells why.
135 of 144 people found the following review helpful.
Surprisingly Current and Definitely On Point!
By D. Swager
Being Nobel winning economist, I was not sure what to expect from this "personal statement". What a pleasant surprise and enjoyable read. The book represents the Friedman's take on the government policies of the day (1979). Not knowing that the book was written over 20 years ago a reader would swear it just rolled off the press. The fact that the problems addressed by this book are still the problems we are (or more importantly are not truly) debating today only bolsters the arguments that current government policy is failing.
As a not quite totally liberal or Libertarian (as modern socialist democrats (Ted Kennedy, Al Gore, Diane Feinstien, etc.) and moderate Republicans (Olympia Snowe, Lincoln Chaffee, James Jeffords, etc.) have co-opted the liberal and moderate monikers), Friedman puts forth arguments against government intervention is many areas, but does demonstrate where government can be helpful, in limited ways, to address various market failures. The book addresses areas such as free markets, price and wage controls (which are currently causing electricity shortages in California), equality and justice, education (Friedman has been urging parental choice in public schooling since the 1950s), consumer protection, worker protection and inflation. The book presents each issue by examining how we got to the current state, what is wrong with the current policy and how he believes the policy should be changed. In various instances, he suggest both his preferred change and a watered down version (pragmatic version) that might actually be enacted in our current political morass.
A quick note to readers. One reviewer suggested that the book plagiarizes the work of Lord John Maynard Keynes. This could not be further from the truth. Friedman is a monetarist more in the vain derived from classical economics as presented by Adam Smith and used as a basis by the American Founders, especially Thomas Jefferson. The failed policies of the newer Keynesian economics (demand side economics) are at the heart of what Friedman is railing against: Government control. Also Monetarist are distinguished from the supply side theories of Robert Mundel and Art Laffer. In fact, the only Keynes quote I can recall from the book was used to demonstrated that even someone as wrong as Keynes knew that monetary inflation (printing too much money) was one of the worst mistakes a government can make. "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
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