Discover the Power of Choice with Milton and Rose Friedman's 'Free to Choose: A Personal Statement'

Kyle: If they taught this in US schools we might have a voting population that understands enough economics to debunk liberal (fantasy) economics. Milton F will answer many questions for you in this book:

Why do we even have prices?
Why can’t government set all prices?
How does government ruin certain things?
How do markets work?

Milton Friedman uses very crisp examples to illustrate concepts of economics that allow one to understand the world as it ACTUALLY works. Not how people WISH it worked.

This is the book you should buy your liberal or independent friend who thinks any of the following:
- capitalism harms society
- minimum wage actually increases wages
- “rent control” decreases rent
- government can save the day!
- other popular economic misconceptions

But honestly they won’t read it, despite its very clear style and examples. Which brings me to my other audience. This book is essential for the person who wants to understand economics, and political economic theory without the overly conceptual books that litter the shelves of too many.

At the end of the book you will be frustrated to ask - but often find...

United States on Jul 23, 2023

ELIAS: This book met my goals at a large extent. I’d recommend it to everyone who wants to have an overview about the benefits of free market for whatever the thing. Based on data and experiences, the book shows that free market is, all in all, a better option than regulation or nationalisation of property/activity.

Spain on Sep 04, 2020

Carlos Pineda: Friedman’s book written to highlight the wonders of free markets is an utopian world. The theoretical assumptions of the existence of an equilibrium for competitive markets relay on very sensitive assumptions that are easily broken in any market economy (see Arrow and Debreu (1954), Econometrica, for all the mathematical assumptions that are needed to reach Adam Smith’s invisible hand or the First Theorem of Welfare Economics. An unrealistic assumption on how initial endowment is distributed is key but not understood by Friedman, which is key in the mathematical proof of the invisible hand).

The assumption on maximisation of profits by shareholders as a key principle for the power of the market is very fragile assumption on general equilibrium in addition with the initial endowment of individuals, something that Friedman hardly understood and underestimated (see Friedman’s interview on general equilibrium youtube). Its implications on inequality and climate change (e.g. externalities) are massive.

A totally better approach and reading from someone who really understood economics in an objective way is The Limits of Organizations (1974) by Kenneth J. Arrow.

United Kingdom on May 31, 2020

Consumer of products: The quality of the book and print is sufficient to read it. It could be better but since you really care about it's content let me focus on something else.
The argumentation presented in this book is very well formulated and easy to understand. You do not have to agree with every conclusion drawn from this argumentation, after all we are not as reasonable as we should be, however I think this book summarizes quite well the train of thought behind the liberal worldview and is definately worth a recommendation.

Germany on May 02, 2019

Ritesh Kumar soni: An excellent book. Which make it abundantly clear that the government is the problem not solutions in respect of majority of matters. Cutting the size of government is the most important thing. Capitalist system works great, it is abundantly clear from working of system in the countries. Economic freedom let the productive power of people to blossom. It is one of my favourite book.

India on Mar 10, 2019

R de Bulat: This book is not difficult to read and its arguments are practical sounding and convincing. Economics and economists seem to exist either side of a political divide or, at least, between those who are wholeheartedly capitalist and those who are not. Milton Friedman is unashamedly of the former persuasion and he makes the case well, but not without including a social dimension that many could do well to examine; that is, without wealth and wealth creation, there can be no welfare that does anybody any good; you've got to make the money before you can spend it - however it is that you choose to do so, which is a political question. Friedman makes this case well, but also is quite clear that the role of Government is necessary to help keep a balance between greed and need. As he sees it, Government performs an essential role, but it should not try to act like a wealth creator, simply because it is both inefficient and inexpert in this role. His arguments are difficult to counter and one soon realises that his argument is valid and, essentially, practical. We could all benefit, as a nation, if we had a better grasp of economics and this book could well be a standard by which we...

United Kingdom on Aug 14, 2012

Fozziliny G. Moo: Milton Friedman was a highly visible economist, statistician, and policy
commentator during the Twentieth Century. Before he died in 2006, he wrote
and co-wrote several books relating economic theory, policy studies, and
statistics. He was the recipient of the Nobel Prize in economics in 1976.

I just finished reading "Free To Choose: A Personal Statement," written by
Thomas Friedman and his wife, Rose Friedman. The book is dense and full of
well thought-out arguments for free markets, smaller government, and how
policies that adhere to these principles will result in greater liberty and
freedom for the people that live under them.

This book is almost thirty years old and it shows. Many of the numbers
the Friedmans use in the book are laughable today, especially those they use as
salaries for the common man or the cost of an average home.

It's fascinating, however, they write at the end of the Carter
administration that "the tide is turning."

"The failure of Western governments to achieve their proclaimed objectives
has produced a widespread reaction against big government. In Britain the
reaction swept Margaret...

United States on Sep 30, 2009