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Aug 05, 2011

Stephen rated it:

Live and (hopefully) Learn...Before reading this book, I thought I was a fairly strong proponent of both free markets and limited government. TURNS OUT...I WAS WRONG!! Uncle Milt believed down to his very core in the rightness of free markets and after reading his passionate treatise on the benefits of same, I find I am not quite as far along the boulevard of laissez faire as I originally thought.

Despite being under 250 pages, this is a dense, meaty work designed to summarize More...

17 comments like (29 people liked it)

Feb 04, 2009

Clif rated it:

The GOP bible, at least until they got sidetracked by those holding the original Bible, this book is a compendium of all the things that government should NOT be involved with and for the simple reason that they restrict individual freedom. Friedman's plea is to let people choose as responsible adults - to have self-appointed protectors in government do what they think is best is to treat the populace as a herd of helpless and ignorant wards of the state.

Friedman speaks with calm log More...

1 comment like

Feb 13, 2012

Prescott is currently reading it

He makes so many assumptions its almost a waste of time to continue reading. In the middle of chapter 2, he claims that there are three different kinds of monopoly, private monopoly, public monopoly or public regulation. He claims that the private monopoly is the best to allow to exist, because it would be the easiest to break up if needs be. The first time I read this I was going nuts. Why would we a want group of for profit individuals running a monopoly that's product is overpriced and be More...

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Nov 10, 2011

Andrea rated it:

Friedman has constructed an airtight bubble of neoliberal thought where freedom is the greatest value, and everything makes sense and fits together rationally only because it has no connection whatsoever to any kind of historical context, much less the current social and political realities of our time. None. Period. It is as though neither history nor reality as it is experienced by the poor exist, an astonishing tour de force to explain why those with extreme wealth should feel happy and conte More...

1 comment like (2 people liked it)

Oct 12, 2011

Clinton rated it:

Capitalism and Freedom examines the ultimate pursuit of freedom and liberty through the absence of government interference in the market and politics. Although government is warranted in the market yet limited, the market will always prevail in the most efficient use of resources. In a free society, there is a fine line between economic and political freedom.
The role of government should be only limited to law and order, enforcing property rights, and maintaining the monetary system. Friedm More...

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Sep 30, 2011

Jack rated it:

Kind of reads like Marx or Hayek: strong arguments about the problems in society that can get a lot worse if not addressed soon, but completely out of sync with the actual progression of history. Sure, if we don't make ANY changes, we might be in trouble. But society ALWAYS DOES CHANGE. Friedman wrote this book in the 1960s, and can he really still try to tell us that we are LESS free than back then, even though all levels of American government have grown a LOT since he warned us about the l More...

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Sep 04, 2011

Kenny rated it:

Great short book by the libertarian economist Milton Friedman. Here he argues that economic freedom is a necessary condition or precursor to political freedom, and talks about what the role of government should be. He argues against occupational licensure, that it basically equates to something like the Midevil guild and caste system, where only a person of a certain class is able to do certain work. He also advocates in this book a strong argument for school vouchers among other things.

0 comments like (1 person liked it)

May 20, 2011

Bojan rated it:

The link between economic and political freedoms has been supported for a long time, and Milton Friedman's "Capitalism and Freedom" is one of the more important texts in that intellectual tradition. The central thesis of this book is that the private ownership and enterprise, rather than the government controlled services, is the true guarantor of personal freedoms. Friedman acknowledges that there are indeed certain activities that a government has a legitimate role in (like the arbit More...

0 comments like (1 person liked it)

Jan 04, 2011

Josh rated it:

Friedman is the essence of the Chicago school of conservative/libertarian economics, and some say his is the driving idea behind Reagan's supply side economics.

Whatever you think about Reagan, Friedman is man of no small insight, both into economics and into politics. Some of the rationales for his economic policies sound like they came straight out of the political discussions of The Federalist Papers. Friedman, like Hamilton and Madison before him, realized that any power given to th More...

1 comment like (1 person liked it)

Oct 15, 2009

Igor rated it:

If you're looking for a dry and cerebral argument for why markets tend to be a social good, and in most case the option which gives choice, encourages enterprise, is the preferable one -- then this book, though dated, is still relevant and worth taking a look into. Someone who hasn't studied economics at all probably should seek different primers before delving deep into Friedman's zany free market world.

That being said, Friedman delivers a solid utilitarian argument for limited gove More...

0 comments like (1 person liked it)

Dec 09, 2010

Trevor rated it:

This book is an interesting case of modern day sophistry – where the worse argument is made to appear the better. If one needed proof that much of modern economics is an exercise in ideology and self-interested appeals on behalf of the obscenely wealthy then this book provides ample evidence.

The French Revolution was fought under a flag of three colours and for three causes, Liberté, égalité, fraternité – Freedom, Equality and Brotherhood. Friedman is only interested in what he ref More...

23 comments like (20 people liked it)

May 19, 2011

Carlos rated it:

Friedman presents a simple, indeed often simplistic, argument in favor of an economic system characterized by the nearly unfettered operation of the free market coupled with a minimalist state apparatus. Though the book represented a radical position at the time it was written, many of Friedman's positions seem uncontroversial and common sensical today. It is a testament to Friedman's influence that this is so. In the forty or so years since Capitalism and Freedom first appeared, Friedman's thou More...

0 comments like (2 people liked it)

Feb 01, 2010

Bhaskar rated it:

To be honest, I'm reading selections from this because I have to for class, but I've actually read Friedman before and I don't have the same sort of vitriol that the Naomi Klein-left has for the man. He saw stagflation coming and the problems with the Peronist state-developmentalist model when welfare capitalism and import-substitution were in vogue. The flaws in his thought are obvious and I feel no need to delve into them here, but in short... I do love how classical economics stops at the p More...

0 comments like (1 person liked it)

Feb 09, 2012

Aaron rated it:

This book was amazing. It is easy to see why Friedman won a Nobel Prize. It starts off with a pretty typical explanation of what the classical liberal sees as the proper role of government. It is slow going through the chapters about monetary and fiscal policies. However, the book really gets going after this. Each chapter is devoted to the government's role in various areas, e.g. Education and professional licensure. It was published in 1962 so somethings are obviously dated, not being in a col More...

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Dec 06, 2011

Christopher rated it:

The best way to describe Milton Friedman's manifesto is that while it has a laudable goal, the spreading of economic freedom to all, the means by which he would achieve them would ultimately do the opposite and leave people in continual poverty. His first chapter on how important economic freedom is is very good, but all of his arguments employ either strongman arguments that can't be reasonably argued against or straw man arguments that are too easy to knock down. Not only that, but his chapter More...

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Jan 24, 2008

John rated it:

A man with an enomorous intellect and education, yet little regard for human beings. He had a vision of a lasseiz faire society that he was only able to see attempted in places like Chile, Argentina etc. Probably the most influential economist save Smith or Keynes. In my opinion a very unfortunate fact.

0 comments like (1 person liked it)

Jul 26, 2010

Lucas rated it:

The semi-utopian vision sketched out in this book has some attractive features, though there are no practical suggestions for how it could actually be achieved. I think it would take a new country with a constitution written around it.

It's interesting to compare with anarchism, there is a strong government enforcing laws against monopoly and providing national defense, but the desire for smallness is the same- small numerous businesses and local governments producing maximum freed More...

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Dec 31, 2007

Eamon rated it:

An important book to read for any student of economics - this is the basis of most American economic policy - but it's WRONG and I think Adam Smith would roll in his grave to hear how people like Friedman are using his theories to make their friends richer while the masses struggle.

0 comments like (1 person liked it)

Jul 05, 2008

Erik rated it:

A good read. Friedman discusses the advantages of capitalism over collectivism, and makes a very good argument. He beautifully criticizes labor unions, focusing specifically on the AMA. A must read for any true liberal.

0 comments like (1 person liked it)

Feb 24, 2011

Platontz rated it:

This groundbreaking work is perhaps the best introduction a person can have to Milton Friedman's philosophy and reason. The man's idea is simple but essential for every person: Freedom is a whole, a certain way of life and thinking and its various parts cannot be separated but have to exist together for the are so deeply connected to each other that if you cut off one from the other, then the end of freedom in general will be inevitable.

In this book Friedman is trying to show his audie More...

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Jul 25, 2011

Sergei rated it:

It's better than most libertarian tracts, if for no other reason than because Friedman makes an earnest effort to lay out sustained arguments deriving from actual premises. What's more, some of his recommendations would probably surprise people who are only familiar with him in passing. But then again, you also occasionally get gems like this:

"Is there a difference in principle between the taste that leads a householder to prefer an attractive servant to an ugly one and the taste More...

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Dec 05, 2007

Joe rated it:

The ultimate in free markets. Heir of the Chicago School monitariests from Hayek, a mostly complete rebuttal to progressives.

2 comments like (1 person liked it)

Jun 16, 2011

Joe rated it:

I hadn't read this book since college, and had forgotten that Milton Friedman was a monetarist who believed that expanding the money supply by 3-5% a year would stabilize the economy. He also appears to have had nothing against a central bank/banking cartel like the Federal Reserve (unless he reversed his view on this later, which I wouldn't know). As an Austrian (economically speaking) and a libertarian, naturally I find this astonishing. Capitalism and Freedom is still a classic work, thoug More...

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Sep 28, 2011

Matthew rated it:

In addition to Frederic Bastiat's "The Law," this should be one of the first books you read about economic freedom and government intervention. Friedman makes the case against government intervention in the free market, details the destructive nature of the policies set during this book's publication, and offers an optimistic view of the future based on the increase of young people interested in free market economic theories.

It's not the most thrilling read, but it's definite More...

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Aug 28, 2011

Franz rated it:

This book is Friedman’s account for the general reader of his views of how the economic wealth of society should and should not be distributed. In outline his views go something like this: Each person has the capacity through the use of reason to choose how to fulfill his own interests. Society is best arranged to allow each person the maximum liberty to pursue his own self interest so long as it doesn’t interfere with the liberty of others to do the same. Any attempt by others, including and es More...

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Aug 05, 2011

Jack rated it:

As much as I totally disagree with the political philosophy espoused in this book, I have to admit it's pretty engaging and almost convincing. Obviously it has lots of logical holes (my favorite being the one about school segregation - he totally fails to reconcile the fact that a profit motive would not be enough to overcome racism if there were only a few black families in a given town), but much of it is frustratingly solid/admirable for a commie like myself. Plus, unlike say Ayn Rand (who fa More...

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Mar 23, 2011

Erik rated it:

I read this after Milton and Rose Friedman's Free to Choose as a text ancillary to those assigned for Dave Schweickart's course entitled "Capitalism, Socialism, Democracy" and found it less offensive and more thought provoking than that later text.

Personally, I share Friedman's libertarianism in the sense of favoring the freedom of everyone to do as they please so long as their so doing does not restrict the freedom of others. This is a political, not an ethical, claim amo More...

5 comments like (1 person liked it)

Oct 05, 2008

Nicholas rated it:

This review has been hidden because it contains spoilers. To view it, click here

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Jul 24, 2008

Paul rated it:

Although written in 1962, Friedman's book, Capitalism and Freedom, is pertinent today. Friedman argues strongly against goverment intervention in the market economy. Friedman offers critiques in all the areas in which government limits our freedom: Education (Friedman was a strong supporter of school choice and voucher programs, The Control of Money (Friedman argues that it was Federal Reserve bungling that made the Great Depression worse than it should have been), International Free Trade (Frie More...

0 comments like (1 person liked it)

Aug 21, 2008

Brian rated it:

Entertainment-0 Stars
Education- 1 Star
Readability- 1 star
Innovation- 0 Stars
Inspiration- 0 Stars

There are enough holes in capitalism to drive a fleet of trucks through. All hopefully hauling goods that are wanted by consumers with no tariff’s or other impediments and delivered by the one true God, free trade capitalism.

Friedman does make some good points about big government being bad that are valid I am totally on board with him on eliminati More...

2 comments like (1 person liked it)

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