Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Book Review: Capitalism and Freedom by Milton Friedman: The case for competitive capitalism
    Book Review: Capitalism and Freedom by Milton Friedman: The case for competitive capitalism
    Book Review: Capitalism and Freedom by Milton Friedman: The case for competitive capitalism
    Ebook29 pages15 minutes

    Book Review: Capitalism and Freedom by Milton Friedman: The case for competitive capitalism

    By 50Minutes

    ()

    Read preview

    About this ebook

    It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide.

    Capitalism and Freedom outlines the Nobel Prize-winning economist Milton Friedman’s views on the relationship between economics and politics. Specifically, he believes that economic freedom is necessary both in and of itself, and because it is inextricably linked to political freedom. He applies this insight to a host of contemporary problems to argue that the situation could be improved by what he refers to as “competitive capitalism”. Capitalism and Freedom has sold hundreds of thousands of copies since it was first published in 1962, and was described by The Times Literary Supplement as “one of the most influential books published since the war”. Friedman himself was one of the most influential economists of the 20th century, and his ideas have been adopted by governments around the world.

    This book review and analysis is perfect for: 
    • Students of economics and politics
    • Anyone with an interest in the history of economic thought
    • Anyone looking to understand the role of the government in the economy

    About 50MINUTES.COM | BOOK REVIEW
    The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.
    LanguageEnglish
    Publisher50Minutes.com
    Release dateApr 4, 2019
    ISBN9782808016964
    Book Review: Capitalism and Freedom by Milton Friedman: The case for competitive capitalism

    Read more from 50 Minutes

    Related to Book Review

    Titles in the series (55)

    View More
    View More

    Related ebooks

    Economics For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Why Karl Marx’s Communist Manifesto Is Having A Moment

      Oct 4, 2021

      Name: The Communist Manifesto. Age: 173 years. Remind me what it is again. A pamphlet by Karl Marx and Friedrich Engels first published in 1848. I thought Marxism was dead … at least it seemed that way at the Labour party conference last week. Not s

      2 min read

    • Article

      Francis Fukuyama On The Retreat From Classical Liberalism

      Jul 25, 2023

      Francis Fukuyama’s Liberalism and Its Discontents (2022) defends classical/humane liberalism—ideas that emerged in the second half of the seventeenth century—arguing for limitations on government, constitutions, the rule of law, and the protection of

      17 min read

    • Article

      Contra-capitalism: The Exit Ramp from Market-Oriented Business

      Mar 15, 2022

      “If names be not correct, language is not in accordance with the truth of things.” So says The Analects of Confucius. Which is why the argument set forth by Michael C. Munger and Mario Villarreal-Diaz in an article in a recent issue of The Independen

      38 min read

    • Article

      Basic Economic Liberties: John Rawls and Adam Smith Reconciled

      Sep 4, 2021

      Are liberties to own productive property and engage in voluntary exchange basic in Rawlsian terms? This is a key controversy between classical liberals, such as Gerald Gaus (2010) and John Tomasi (2012a), who affirm economic liberty to be an essentia

      39 min read

    • Article

      The Complex Relationship between Democracy and Freedom

      May 4, 2021

      The Cold War era, from the 1950s through the 1980s, saw a global ideological divide between the capitalist democracies of the Western bloc countries and the centrally planned dictatorships in the Eastern bloc. That ideological divide, both political

      30 min read

    • Article

      Heretics In The Marketplace

      Jul 24, 2017

      The ballot box was now obsolete, supplanted by a vast, continual referendum that had rendered political institutions little more than speed bumps on the road to market efficiency. The post Heretics in the Marketplace appeared first on The Millions.

      8 min read

    • Article

      The Mirage of Democratic Excesses: Hayek’s Law, Legislation, and Liberty

      Jan 1, 2020

      In the 1950s, Friedrich Hayek (1899-1992) was already a well-respected intellectual, with important contributions to monetary theory, the theory of business cycles, the methodology of economics, and capital theory. Furthermore, he had already begun h

      14 min read

    • Article

      Economic Nationalism Is Just Socialism On The Right

      May 3, 2019

      It has "invariably been the fate of conservatism to be dragged along a path not of its own choosing," the philosopher and economist Friedrich Hayek famously wrote. Hayek's larger point was that while conservatism plays an important role in pumping th

      3 min read

    • Article

      The New Corporation

      Nov 6, 2020

      The New Corporation
      11 min read

    • Article

      Can Biden’s Summit For Democracy Restore Shrinking Freedoms?

      Dec 2, 2021

      The planning started within days of President Joe Biden’s inauguration, and now it’s happening: a gathering of more than 100 world leaders to launch a democratic fightback against the rising influence and assertiveness of autocracies like Russia and

      3 min read

    • Article

      Milton Friedman Left A Complex Legacy, Says His Biographer

      Mar 28, 2024

      It is difficult to imagine what the world would be like today without conservative economist Milton Friedman. In the 1980s, his work was fundamental to the global shift toward free markets. He helped the United States abandon the military draft, spea

      3 min read

    • Article

      Populism: Promises and Problems

      Aug 4, 2021

      Populism is a political ideology that advocates citizen control of government, government policies that support the interest of average citizens rather than the interest of an elite few, and, often by extension, democratic political institutions. Pop

      19 min read

    • Article

      “The Danger of Deplorable Reactions”: W. H. Hutt on Liberalism, Populism, and the Constitutional Political Economy of Racism

      Mar 15, 2022

      In a democratic society perhaps the most vital nondiscrimination principle which has to be entrenched is that majorities shall have no power to enrich themselves through government at the expense of minorities.—W. H. Hutt, “South Africa’s Salvation i

      30 min read

    • Article

      American Institutional Exceptionalism and the Trump Presidency

      Aug 4, 2021

      After Donald Trump’s election in November 2016, scholars decried the death of democracy (Levitsky and Ziblatt 2018), democratic backsliding (Slater 2018), and the rise of authoritarian tendencies in American politics (Mounk 2018; Snyder 2018). Daron

      27 min read

    • Article

      The Politics Of Futility

      Feb 13, 2022

      The Politics Of Futility
      22 min read

    • Article

      A Constitutional Amendment to Constrain Rent-Granting and Rent-Extraction

      Sep 15, 2022

      Political economists have given the problem of rent-seeking a prominent position in their analyses since Gordon Tullock (1967) brought it to attention by highlighting the tendency for the efforts of seeking it to compete away the rents sought, and An

      24 min read

    Related categories

    Reviews for Book Review

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Book Review - 50Minutes

      CAPITALISM AND FREEDOM

      A CASE FOR COMPETITIVE CAPITALISM AS THE MOST DESIRABLE SOCIETAL ARRANGEMENT

      In Capitalism and Freedom, the Nobel Prize-winning economist Milton Friedman outlines his views on the relationship between economics and politics. Contrary to popular opinion, Friedman claims that these two fields are intertwined and offers a conceptual framework, dubbed competitive capitalism, which sees the idea of freedom as not solely belonging to the political sphere, but to the economic sphere as well. Moreover, apart from being a valuable end in and of itself, economic freedom precedes political freedom:

      … freedom in economic arrangements is itself a component of freedom broadly understood, so economic freedom is an end in itself. In the second place, economic freedom is also an indispensable means toward the achievement of political freedom. (p. 8)

      After discussing the framework itself in the first two chapters, he goes on to apply it to a host of issues, each chapter detailing one separate area in which he discusses the current problems and how they could be improved through reform along competitive capitalist lines.

      KEY INFORMATION

      Reference edition: Friedman, M. (1962) Capitalism and Freedom. Chicago: The University

      Enjoying the preview?
      Page 1 of 1