Clinton's Reviews > Free to Choose: A Personal Statement

Free to Choose by Milton Friedman
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Oct 12, 2011

it was amazing
bookshelves: favorites, non-fiction, economics

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 protection. Even though Social Security has good intentions, it is increasingly becoming inefficient and outdated in current law, which will commit our government to insolvency for posterity.
Freidman argues that government regulations thwart actual consumer protection; rather it regulates between competing industries where one industry has an advantage over another. Of the majority, public school systems are an utter failure, and with increasing preponderance of the government, monopolistic tendencies will continue to rise in public schooling where the curriculum is decisively decided by school boards, and the choice of school is non-competitive and thus decreasing the quality. If all levels of schooling are to be fixed, the proposal of school vouchers definitely has merits. Inflation isn’t created by businessmen, consumers, unions, or weather; it is created by a zealous government with big printing presses inflating the money supply and outgrowing the quantity of goods and services. Inflation is a disease that needs to be cured, and it starts with the government.
Throughout the book, Freidman formulates economics into a wildly intriguing subject because he integrates how life would improve with more personal freedom and choice. The evidence of less government interference in the economy is provided with countless material supported by a plethora of examples. Augmenting personal freedom and competition is ideal, but unfettered capitalism is precarious and pernicious. Minimal governmental intervention is necessary through laws and regulations and some social beneficial programs; however, too many laws and regulations stranglehold any type of innovation and investment and thwart competition. Overall, the book really changed my view on how an efficient market economy can be constructive but not by a destructive means.
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Reading Progress

Started Reading
December 30, 2009 – Finished Reading
October 12, 2011 – Shelved
October 15, 2011 – Shelved as: favorites
June 12, 2012 – Shelved as: non-fiction
June 12, 2012 – Shelved as: economics

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