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Capitalism and Freedom

3.95  ·  Rating details ·  8,270 Ratings  ·  438 Reviews
In the classic bestseller, Capitalism and Freedom, Milton Friedman presents his view of the proper role of competitive capitalism—the organization of economic activity through private enterprise operating in a free market—as both a device for achieving economic freedom and a necessary condition for political freedom. Beginning with a discussion of principles of a liberal s ...more
Paperback, 208 pages
Published September 15th 1982 by University of Chicago Press (first published 1962)
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Trevor
Dec 07, 2010 rated it it was ok  ·  review of another edition
Shelves: economics
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 refers to as fre
...more
Stephen
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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 the arguments in
...more
Andrea
Nov 10, 2011 rated it did not like it  ·  review of another edition
Shelves: theory, democracy
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
Riku Sayuj

Friedman is definitely one of the most eloquent economists ever to have ventured into public discourse and also one of the most influential. And his arguments are powerful and almost impossible to argue against without stripping oneself of intellectual integrity. No doubts about that. But the imaginary debating partner cannot help but wonder if staking a claim to the moral high ground in an argument is not exactly the most liberal way of conducting one. Friedman puts a lot of stock into how true
...more
Hadrian
Milton Friedman died in 2006, and his teachings live on. The economist as demagogue, preaching all will be subordinate to the Market, all-powerful, all-knowing. It giveth and taketh away.

I admit freely for the purposes of bias that I lean to the left. But I recognize that the market is a powerful force for innovation, for growth and change. I am willing to recognize that at times, the market can be too constrictive, and that there are times where we must carefully examine the situation and deter
...more
C
Sep 01, 2013 rated it did not like it  ·  review of another edition
Friedman is a good marketer. It's pretty clear why people without a deep logical background, or analytic training, would believe this book has something to say about freedom. Friedman slyly uses the terms free, freedom, and free enterprise, in every three sentences. Eventually the weary subconscious relents, and accepts that the man must be talking substantively about issues of freedom, why else is the word so omnipresent!? Of course he's not really. For Friedman, freedom is negative liberty, th ...more
Suman
Reading this book is like looking at a mirror into your own beliefs: how you react to Milton Friedman's philosophy tells you more about yourself than about the validity of the system. Fault lies totally with MF, who does not offer enough evidence to support his worldview, which is to limit government and expand free market in order to maximize 19th-century liberalism (where everyone is free such that one person's freedom doesn't impinge upon another's.) The lack of concrete evidence completely d ...more
Erik Graff
Apr 12, 2009 rated it liked it  ·  review of another edition
Recommends it for: socialists
Recommended to Erik by: David Schweickart
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 amounting to the belief th
...more
Josh
Jan 04, 2011 rated it really liked it  ·  review of another edition
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 the governme
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Daniel
Jun 09, 2007 rated it did not like it  ·  review of another edition
Recommends it for: masochists.
Shelves: non-fiction
I read this book as part of a class on Political Thought. I had food poisoning at the time that this book was assigned, but I would have been puking even if I hadn't had those undercooked pancakes that day. This book is so full of ruling class whitewash that it is truly difficult to read.

The text, essentialized, was as follows: Capitalism offers rich people choices. These choices can be redefined as freedom. Therefore Capitalism offers freedom.

Left out is what to do if you don't have the luxury
...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
More about Milton Friedman...
“In a much quoted passage in his inaugural address, President Kennedy said, "Ask not what your country can do for you -- ask what you can do for your country." It is a striking sign of the temper of our times that the controversy about this passage centered on its origin and not on its content. Neither half of the statement expresses a relation between the citizen and his government that is worthy of the ideals of free men in a free society. The paternalistic "what your country can do for you" implies that government is the patron, the citizen the ward, a view that is at odds with the free man's belief in his own responsibility for his own destiny. The organismic, "what you can do for your country" implies that government is the master or the deity, the citizen, the servant or the votary. To the free man, the country is the collection of individuals who compose it, not something over and above them. He is proud of a common heritage and loyal to common traditions. But he regards government as a means, an instrumentality, neither a grantor of favors and gifts, nor a master or god to be blindly worshiped and served. He recognizes no national goal except as it is the consensus of the goals that the citizens severally serve. He recognizes no national purpose except as it is the consensus of the purposes for which the citizens severally strive.” 60 likes
“ان الشخص الوحيد الذي يمكنه اقناعك حقاً هو نفسك,عليك ان تدير الامور في رأسك اثناء استرخائك,ثم عليك ان تدرس الاراء الكثيرة المخالفة,دع الافكار تختمر في ذهنك,وبعد مدة طويلة حول تفضيلاتك إلى قناعات” 9 likes
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