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The Indispensable Milton Friedman: Essays on Politics and Economics (Englisch) Gebundene Ausgabe – 2. Oktober 2012

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Milton Friedman is one of the most famous economists in history, and with good reason. He revolutionized our understanding of the Great Depression, helped establish the Chicago school of economics, and was awarded the Nobel Prize in economics. But eclipsing these achievements is the vital role he played at the crux of the long debate over capitalism in America. The 1970s was an all-time nadir for free market economics in the popular imagination. At the time it seemed that state management of the economy had finally triumphed. It was Friedman who almost single-handedly kept the argument for capitalism alive, stressing that the free market is the only way to achieve prosperity—and retain personal liberty.

The Indispensable Milton Friedman is the first general collection of Friedman’s writings that spans his entire career, offering twenty scintillating essays selected from over five decades of writing, teaching, and research—including some that have never been republished. These essays provide always-fresh insights into topics that continue to drive the public debate today, from health care reform and drug legalization to school vouchers and the economics of John Maynard Keynes.

Among the indispensable writings included in this book:

  • “Liberalism, Old Style” (1955), discusses the transformation of the original meaning of liberalism
  • “The Counter-Revolution in Monetary Theory” (1970), his most important lecture on monetary policy
  • “The Tide in the Affairs of Men” (1988, coauthored with his wife, Rose D. Friedman), traces the progression from the explosion of capitalism in the eighteenth century to the rise of the modern welfare state
  • “How to Cure Health Care” (2001), his elegant and commonsense plan for health care reform is a solution vastly superior to Obamacare

The Indispensable Milton Friedman provides insight into the far-reaching thought of one of the twentieth century’s most influential men. It will also arm readers with crucial understanding about what it means—and what it takes—to be truly free. It deserves a place on the bookshelf of every true proponent of the free market.


Praise for The Indispensable Milton Friedman

“Milton Friedman was one of the most important scholars of the 20th century&hellp;He perfected the art of making economics understandable to the ordinary, untrained individual. That’s the true mark of a teacher.”
WALTER E. WILLIAMS, John M. Olin Distinguished Professor of Economics, George Mason University

“Milton Friedman was the most authoritative exponent of the libertarian tradition in economics. He will be remembered as long as the subject endures, and this collection epitomizes the power of his mind and range of his mastery.”
GEORGE GILDER, author of Wealth and Poverty

“In addition to being a great innovator in economic thought, Milton, assisted by his wife Rose, helped to create a warm fellowship for young new faculty…Milton, along with Ted Schultz, George Stigler, Harry Johnson, Al Harberger, and Al Reese, created ‘The Chicago School.’”
ROBERT FOGEL, Nobel Laureate, Economic Sciences

“This volume of essays from the corpus of Friedman’s work is not only welcome in light of the centennial of this brilliant intellectual’s birth, but will clear the air of so many prevalent economic myths that continue to haunt us today.”
FR. ROBERT A. SIRICO, author of Defending the Free Market, President of the Acton Institute

“Economists can succeed Milton Friedman, but nobody can replace him. As this collection of rare but brilliant essays confirms, he was one of a kind, and is greatly missed.”
MARK SKOUSEN, Editor, Forecasts & Strategies

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Die hilfreichsten Kundenrezensionen auf (beta) 12 Rezensionen
7 von 7 Kunden fanden die folgende Rezension hilfreich
Poor production values. 19. Januar 2013
Von Beethoven Fanatic - Veröffentlicht auf
Format: Gebundene Ausgabe Verifizierter Kauf
Chapter eight, like most - if not all - of the others, is a reprint of a journal article. There are references to tables and figures that I can't find anywhere in the book. Instead, on page 83 I find a footnote: "Please see original essay for referenced figures." Five stars for Milton Friedman and one star for the publisher.
2 von 2 Kunden fanden die folgende Rezension hilfreich
Food for thought 10. Mai 2013
Von Leslie - Veröffentlicht auf
Format: Gebundene Ausgabe
This is a thought-provoking collection of essays. In one, Milton Friedman and his wife Rose sketch out their view of "the tides in the affairs of men:" how ideas, with a lag, influence public policy - and then often generate their own reversal. The Friedmans mark one tide as that of laissez-faire economics; it is followed by the rise of the welfare state and then, influenced by Austrian economist Friedrich Hayek, the resurgence of free markets. Hayek expressed his ideas most forcefully in The Road to Serfdom, written in the 1940s, but public policy only began to reflect them in the 1970s. Which begs the question: where do things stand now? This essay originally appeared in 1988; has the resurgence of free markets already ended?

That question is provoked by reading another essay, written in 2001, that makes the case that government intervention is responsible both for the sharply increasing costs of health care and for the rising dissatisfaction with the delivery of that care. Unfortunately, it looks as if what even a Democratic Senator is now calling the coming "train wreck" of Obamacare will prove the truth of Friedman's argument that less government involvement, not more, is the only solution to the problem.

Similarly prescient is the 1989 essay warning that tremendous damage will be done unless drugs are legalized, just as prohibition damaged American society earlier in the century. A generation later, our jails are filled with drug offenders being transformed into hardened criminals - and the useless hand-wringing continues.

The health care essay, as well as a number of others, suffers from the editors' decision to leave out the charts in the original versions. Some authors may include charts primarily for academic respectability or for decoration, but Friedman uses them to distill the essence of his argument, so it's a shame they're missing.
4 von 5 Kunden fanden die folgende Rezension hilfreich
Informative 6. Januar 2013
Von Daniel M. Staffieri - Veröffentlicht auf
Format: Gebundene Ausgabe Verifizierter Kauf
A must read if you do not want to continue to be a dummy. A great review of Friedman's thinking and a very informative introduction.
1 von 1 Kunden fanden die folgende Rezension hilfreich
Some articles interesting, some boring but pure Milton Friedman 23. April 2014
Von P. Mattingly - Veröffentlicht auf
Format: Gebundene Ausgabe Verifizierter Kauf
A collection of his writings and interviews for those who have grown to like this Classic economists. My judgment is that about 1/2 of the collection is a little heavy and boring and difficult to plow through. He clears up his influence on the Chile miracle in one interview that was interesting. The best part is his clear explanation of how the Keynes economic theories did not work and was part of the cause of the great depression which made the book worth while reading.
3 von 4 Kunden fanden die folgende Rezension hilfreich
And now for something completely different 19. Dezember 2013
Von David M. Rosenberg - Veröffentlicht auf
Verifizierter Kauf
After reading Friedman's famous popular works - Capitalism and Freedom, Free to Choose, Monetary Mischief, etc - this collection of essays spanning six decades provided a broader picture of the Nobel Prize laureate's beliefs. Whereas Free to Choose, Friedman's best known book, approaches the issues most pertinent to the late 1970s and early 1980s, some of which are longer relevant - such as stagflation - this collection provides articles from the 1950's until just before his death in 2006. Contemporary topics such as fixing the health care system are covered, as are more timeless subjects such as Friedman's view of Keynes and Keynesian economics. While Friedman referenced Keynes and his ideas briefly in the TV miniseries Free to Choose, a 1983 article included here gives this fascinating subject the attention it deserves.
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