Capitalism and Freedom: Fortieth Anniversary EditionUniversity of Chicago Press, 2002 M11 15 - 208 pages Selected by the Times Literary Supplement as one of the "hundred most influential books since the war" How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on. |
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Page ix
... competitive capitalism and freedom have been inseparable . A final personal note : It is a rare privilege for an author to be able to evaluate his own work forty years after it first ap- peared . I appreciate very much having the chance ...
... competitive capitalism and freedom have been inseparable . A final personal note : It is a rare privilege for an author to be able to evaluate his own work forty years after it first ap- peared . I appreciate very much having the chance ...
Page 2
... competitive markets . Beyond this major function , government may enable us at times to accomplish jointly what we would find it more difficult or expensive to accomplish severally . However , any such use of gov- ernment is fraught ...
... competitive markets . Beyond this major function , government may enable us at times to accomplish jointly what we would find it more difficult or expensive to accomplish severally . However , any such use of gov- ernment is fraught ...
Page 4
... competitive capitalism — the organization of the bulk of economic activity through private enterprise operating in a free market — as a system of economic freedom and a neces- sary condition for political freedom . Its minor theme is ...
... competitive capitalism — the organization of the bulk of economic activity through private enterprise operating in a free market — as a system of economic freedom and a neces- sary condition for political freedom . Its minor theme is ...
Page 9
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Page 13
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Contents
THE RELATION BETWEEN ECONOMIC FREEDOM AND POLITICAL FREEDOM | 7 |
THE ROLE OF GOVERNMENT IN A FREE SOCIETY | 22 |
THE CONTROL OF MONEY | 37 |
INTERNATIONAL FINANCIAL AND TRADE ARRANGEMENTS | 56 |
FISCAL POLICY | 75 |
THE ROLE OF GOVERNMENT IN EDUCATION | 85 |
CAPITALISM AND DISCRIMINATION | 108 |
MONOPOLY AND THE SOCIAL RESPONSIBILITY OF BUSINESS AND LABOR | 119 |
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Common terms and phrases
A. V. Dicey achieve activities amount annuities argument arrangements banks capital Capitalism and Freedom capitalist cent certification chapter competition contracts costs countries course currency decline dollars earnings economic freedom enforce enterprise equal ernment example exchange rates expenditures favor federal FEPC fiduciary currency finance floating exchange rates foreign fraction free market free society gold standard governmental groups higher important imposed incentive income tax individuals inequality interest intervention investment involved justify Keynesian kind labor labor unions less liberal licensed licensure limited major means measures ment Milton Friedman monetary neighborhood effects nomic occupation particular payments physicians political freedom practice present principles problem produce public housing reason reduce regard restrictions right-to-work law role schools sell social spend stock of money subsidy tariffs technical monopoly tion trade unions United voluntary wage