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Free to Choose: A Personal Statement

4.19  ·  Rating Details  ·  4,187 Ratings  ·  259 Reviews
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.
ebook, 360 pages
Published November 26th 1990 by Mariner Books (first published January 1st 1980)
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David Dort
Jan 21, 2011 David Dort rated it really liked it  ·  review of another edition
Written in 1979, one of the libertarian economist(s) Friedmans' most accessible works, the clear-written and thought-provoking work does not require the reader to agree with Mr. Friedman's assertions to enjoy it. Rather, it requires the reader to ferociously wrack their brain for a counter argument or alternative solution to their assertions that governmental controls over economic freedoms (by regulation, price and wage controls, nationalization of industries, printing money, adding programs, b ...more
Brent
Jul 04, 2010 Brent rated it really liked it  ·  review of another edition
It's very frustrating to read a decades old book on socioeconomic problems and realize that those problems have only gotten worse in the interim. Especially when that book predicted the consequences of continuing along the current path and presented solutions to dig ourselves out of the worst of the results.

Milton Friedman is a giant in economics and it is our great tragedy that we have ignored his advice. Just as a man who denies law of gravity demonstrates it when he jumps off a cliff, the wes
...more
Jeremy
Oct 14, 2009 Jeremy rated it it was amazing  ·  review of another edition
I really enjoyed this book, and it confirmed some of my fears that I am really a libertarian at heart.

The basic premise is that people should be free to make their own choices whenever possible, and that government's role is to protect us from each other, and not to protect us from ourselves.

The Friedmans argue from a pragmatic standpoint more than from a philosophical standpoint. Generally, government does a poor job with what it touches. We have this idea in our head that government is a sort
...more
Clinton
Oct 12, 2011 Clinton rated it it was amazing  ·  review of another edition
Free to Choose posits the efficacy of subduing government intervention in a free enterprise market economy by rendering theoretical remedies that would alleviate government failures through more competition and personal freedom; ultimately, it would eliminate gratuitous taxes.
Freidman addresses some of the most problematic issues facing our nation that are unfortunately still prevalent today such as inflation, bad school systems, Social Security, economic equity, and consumer and worker protecti
...more
David
Sep 22, 2012 David rated it really liked it  ·  review of another edition
Even though I am not completely convinced that Mr. Friedman is correct in all of his assertions, I must give this book four stars as work of literature.

First the positives: Milton Friedman once again proves his skill with words and logic in this brilliantly articulated book. It is hard to read through his arguments and not become all but convinced that he is correct in almost every subject. He carefully lays out the often unforeseen chains of events that follow from particular actions of individ
...more
Adam
Oct 23, 2013 Adam rated it really liked it  ·  review of another edition
Shelves: important
While some of his arguments could be stronger, this book is important because there aren't enough books that make those arguments—that free markets and capitalism have value.

Many people look at equality and fairness as one of two things: as an outcome, or as a process. Both equality of outcome and equality of process cannot be simultaneously achieved. That is an unrealizable and utopian vision. Equality of outcome and equality of process are in fact mutually exclusive—something few people reali
...more
Aaron
Apr 22, 2014 Aaron rated it really liked it  ·  review of another edition
Wow! It took me a month to read this book!!! I suppose it does take longer to read a book for learning and (not) enjoyment reasons. Funny thing is, I actually enjoyed reading this book too! There are even occasional bits of humor that sneak up on you. (This is illustrated by a reference to Cognac during an explanation on historical forms of currency). Literally, every page of this book had a quote you’d want to slap on Facebook. It was that good. There were things I’d thought about for a long ti ...more
Alex Timberman
May 25, 2015 Alex Timberman rated it really liked it  ·  review of another edition
Shelves: economics
I love the way Milton Friedman argues. He stakes his position and charmingly disposes of opposing views. You can get a sense of his intellect and charm by watching some of his debates on YouTube. This book goes over several issues like welfare, minimum wage, and education where he prescribes the correct policy based on free-market fundamentals – hence the title of the book “Free to Choose.” Some of the issues seem outdated and I would not be surprised to know that even many main stream economist ...more
Erik Graff
Dec 03, 2014 Erik Graff rated it liked it  ·  review of another edition
Recommends it for: no one
Recommended to Erik by: David Schweickart
This book was assigned for Capitalism, Democracy, Socialism taught at Loyola University Chicago during the first semester of 1981/82 by David Schweickart. It infuriated me at the time, appearing to be an intellectually dishonest apologetic for the existing class divisions in the United States. I was more impressed by the author during a subsequent reading of his Capitalism and Freedom.
Tom Stamper
Jun 24, 2015 Tom Stamper rated it it was amazing  ·  review of another edition
This is such a seminal work on free market economics that you will be surprised to hear examples and stories that you already know in other literature. Friedman's example of how many strangers it takes to make a pencil and how no one person can make it on his own is a classic. His proposal of the negative income tax is also the basis of much later study and theory. If the only thing you took from this book is the government's role in inflation it would be worth your time too. If you had to put a ...more
James
I bought this book back in the "good old days" when you could purchase a hardcover book for less than ten dollars. Due to the inflationary policies that Milton Friedman warns about, and that he provides a cure for, a comparable book today carries a price tag more than double the price of the book I purchased. It was a good investment.
In the book, Milton Friedman and his wife discuss the principles of the Free Market. It is this discussion, based on the foundation laid earlier in Capitalism and
...more
JP
May 18, 2013 JP rated it really liked it  ·  review of another edition
A very effective conveyance of the meaning of free market economics and its value to the consumer. The opening quote is from Justice Louis Brandeis' opinion in Olmstead v. United States: "Experience should teach us to be most on our guard to protect liberty when the government's purposes are beneficial. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greater dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but wi ...more
Jenny
It can be disconcerting to find that you have finished a book but can't really explain what it was about much. That is how I feel about Free to Choose. Yes, this is an economics book, so I can say that it is about economics. I can tell you that the main point here seemed to be that the free market is good, but America is (was, it was written in 1980) at a turning point and will soon have to make a decision about which economic policy it should adopt. I actually read the whole book, cover to cove ...more
Davidmcdonnell
May 24, 2009 Davidmcdonnell rated it it was amazing  ·  review of another edition
Common sense. This book makes a clear, rational case for the free market. Friedman dedicates a chapter to each of the major issues facing our country, including education, energy, taxes, and the environmental movement (the book was written in 1979 but the arguments on both sides of the issues still resonate today). Similar to Thomas Sowell, Ayn Rand, or Thomas Dilorenzo, Friedman champions the individual over the group, arguing that when people have the opportunity to choose for themselves, soci ...more
Alvaro Berrios
Dec 27, 2012 Alvaro Berrios rated it it was amazing  ·  review of another edition
Although this book was written in 1979, it is still one of the best books anyone can read and the information is still completely relevant to what is going on today in our country. If you hate big government you will love it as it will support many of your beliefs. If you love big government you should read it regardless because many of your pre-held ideas can be dispelled as what is often blamed on the free market is, in reality, the fault of misleading big government policies.

The inefficiencie
...more
Jonathan S
Aug 30, 2014 Jonathan S rated it it was amazing  ·  review of another edition
Really a good book, which gives the insight of economy, free market, trade unions, education, bureaucracy, policies etc.,

Also gives us the idea why we require above subjects into consideration.
Greg Powers
Oct 19, 2009 Greg Powers rated it really liked it  ·  review of another edition
I learned that Milton Friedman was a genius! Yet I also learned that he's not infallible, his focus on monetarism and seeming disregard for fiscal policy didn't work out. Also he likes the Fed and just thinks they're not being used properly (eg. the great depression would have been prevented if only we would have used the correct type of government interference...) The most interesting and compelling part was his argument for free trade. This is a pretty easy-to-understand book that nearly anyon ...more
Krishna Kumar
May 19, 2015 Krishna Kumar rated it really liked it  ·  review of another edition
This book is one of the most well-written and impassioned argument for laissez faire. The Friedmans demonstrate how government interference can create inefficiencies in the market that can be exploited by special interest groups. They discuss how government spending, however well-meaning, can degenerate into huge bureaucracies that fail to achieve their objectives, but keep requiring huge budgets.

The basic problem with a book like “Free to Choose” is that it turns into a propaganda book which ex
...more
Tyler Hooper
Oct 16, 2012 Tyler Hooper rated it it was amazing  ·  review of another edition
Amazing how timeless many of the economic and social issues of the last decade are. This book has been around a while, but it touches on nearly every poignant topic we face as a nation today. I admit that I subscribe to his (in my opinion) common sense, economically motivated, and sometimes socially unpopular ideas, on how to right the course of our country and maintain the world power status we have come to take for granted.
Warren
Aug 18, 2011 Warren rated it it was amazing  ·  review of another edition
A Nobel Prize dose of reality! If time is a true test, then 32 years has proven that the Friedman's perspective of the effect of freedom (or lack thereof) on our nation and it's economy, was not a theory. Sadly, many of the potential pitfalls mentioned in 1979, are 2011 realities. The only bright spot is that almost all states now have some form of balance budget amendments, where only 8 states had them in 1979!

Stanley Arthur
Sep 19, 2014 Stanley Arthur rated it it was amazing  ·  review of another edition
This is arguably viewed as the best work of the two legendary free market economists from the University of Chicago "Chicago School" of economic theory, Milton and Rose Friedman. The so called "freshwater" approach to economics has been contrasted with the "saltwater" views of Stanford, Harvard and MIT.
Ok, so it was written and published in 1980. But the free market approach to managing the economy is even more relevant today as we watch the failed Keynesian experiment being carried out in both
...more
Patrick Peterson
Apr 19, 2009 Patrick Peterson rated it really liked it  ·  review of another edition
Very good book, but not great. Excellent companion to the TV series of the same name that exposed Milton and free market ideas (mostly) to many, many people.

Read Ludwig von Mises or Murray Rothbard to compare and contrast the Chicagoan/monetarist/positivist methodology vs. the Austrian/free market ideas.
Kym Andrew Robinson
A definite must read and a good starting point for any one who wishes to begin their political reading journey. Not only is this book pleasant to read while being informative and inspiring it is also one which you can refer to down the road.

80 %
Rex Fuller
Aug 31, 2012 Rex Fuller rated it it was amazing  ·  review of another edition
Absolutely a must read to consider oneself educated. I have read it at least twice and will read it several more, I'm sure.
Bryan
This book is takes the principles espoused in Atlas Shrugged and backs them up with data and real life examples. Where Ayn Rand offers compelling fictional stories to demonstrate the virtue of free market capitalism and the vice of Marxist central planning, Milton and Rose Friedman share compelling true stories and easy to understand analogies to add strength to these arguments.

Written at the end of Jimmy Carter's presidency, it is easy to see why Reagan was such a successful president and why R
...more
Lucía Vijil Saybe
El nobel de economìa del 76, deja al descubierto que los mercados competitivos generan mayore desarrollo y crecimiento de la economìa de un paìs sin la intervenciòn del estado. Los chicago boys, generaron a travès de los tiempos las medidas fiscales y en algùn momento las monetarias màs rìgidas sobrepasando la dignidad del ser humano, el caso de la dictadura de Pinochet con recomendaciones de los chicago mejorò su economìa pero a costa de quiènes y por què. Llama la atenciòn, el constante llamad ...more
Steven L.
Nov 11, 2015 Steven L. rated it really liked it  ·  review of another edition
This is a thorough examination of the power of freedom. However, I cannot give it 5 stars, because from the time I first read this decades ago, I questioned the Friedmans' support of the central bank and fiat money. It has become more clear with each passing administration that crony capitalism ("crapitalism") and debtism has displaced and then replaced the true free market capitalism that Friedmans argue for . . . as a direct result of a private centrals banking cartel; institutionalized fracti ...more
Martin
Oct 03, 2014 Martin rated it it was amazing  ·  review of another edition
Shelves: audio, economics, politics
Great book. Lays out a dozen basic macroeconomic truths with data and examples and reasoning so that even the non-economist can understand. Although written in 1980, the chapters on minimum wage, growth of government, and bureaucracy remain dead on.

The book covers much of the same material as Capitalism and Freedom, but here it is better written, more sharply defined, and brought down a notch or two in terms of technical detail, making it easier for the non-economist to enjoy.

My only criticism o
...more
Derek Neighbors
Dec 27, 2015 Derek Neighbors rated it it was amazing  ·  review of another edition
The say, "The truth will set you free, but first it will piss you off." Friedman's 1980 work is able to do just that. Milton won the Noble Memorial Prize in Economics in 1978. Free to Choose highlights free market economics and the forces that destroy them. So much good and relevant data in here that it is hard to believe it was written almost 40 years ago.

The part that rings true is that almost every instance of "free market" being cited as the reason for some decline (think great depression, m
...more
William Kyle Spratt
Dec 07, 2015 William Kyle Spratt rated it it was amazing  ·  review of another edition
Shelves: favorites
One of the best books on the virtues of capitalism.

One of my all time favorite quotes on how capitalism creates prosperity better than any other system was found in this book.

“When unions get higher wages for their members by restricting entry into an occupation, those higher wages are at the expense of other workers who find their opportunities reduced. When government pays its employees higher wages, those higher wages are at the expense of the taxpayer. But when workers get higher wages and b
...more
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Milton Friedman was an American Nobel Laureate economist and public intellectual. He made major contributions to the fields of economics and statistics. In 1976, he was awarded the Nobel Prize in Economics for his achievements in the fields of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy. He was an advocate of economic freed ...more
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“When unions get higher wages for their members by restricting entry into an occupation, those higher wages are at the expense of other workers who find their opportunities reduced. When government pays its employees higher wages, those higher wages are at the expense of the taxpayer. But when workers get higher wages and better working conditions through the free market, when they get raises by firm competing with one another for the best workers, by workers competing with one another for the best jobs, those higher wages are at nobody's expense. They can only come from higher productivity, greater capital investment, more widely diffused skills. The whole pie is bigger - there's more for the worker, but there's also more for the employer, the investor, the consumer, and even the tax collector.

That's the way the free market system distributes the fruits of economic progress among all people. That's the secret of the enormous improvements in the conditions of the working person over the past two centuries.”
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“For example, the supporters of tariffs treat it as self-evident that the creation of jobs is a desirable end, in and of itself, regardless of what the persons employed do. That is clearly wrong. If all we want are jobs, we can create any number--for example, have people dig holes and then fill them up again, or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs--jobs that will mean more goods and services to consume.” 26 likes
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