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Capitalism and Freedom is a book by Milton Friedman originally published in 1962 by the University of Chicago Press which discusses the role of economic capitalism in liberal society. It has sold more than half a million copies since 1962 and has been translated into eighteen languages.
- Milton Friedman
- 1962
Capitalism and Freedom. MILTON FRIEDMAN* IN DISCUSSING the principles of a free society it is desirable to have a convenient label and this has become extremely difficult. In the late 18th and early 19th centuries, an intellectual movement developed that went under the name of Liberalism.
10 CAPITALISM AND FREEDOM institutions. So also did political freedom in the golden age of Greece and in the early days of the Roman era. History suggests only that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition. Fas cist Italy and Fascist Spain, Germany at various times in the
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Freedom is a rare and delicate plant. Our minds tell us, and history con-firms, that the great threat to freedom is the concentration of power. Government is necessary to preserve our freedom, it is an instrument through which we can exercise our freedom; yet by concentrating power in political hands, it is also a threat to freedom.
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The economic system plays a dual role in promoting freedom. In the first place, economic freedom is itself an essential component of freedom in general. Competitive capitalism, as the system most favorable to economic freedom, is for this reason an end in itself. In the second place, economic freedom is a means toward political or civil freedom.
Mar 19, 2013 · This essay is by the American economist Milton Friedman in which he makes the case that political and economic liberties are intimately linked. As a “19th century classical liberal” Friedman argues that modern day liberals are mistaken to think that political liberties are more important than economic liberties and that in a fully socialist society there would be no political liberties as ...
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Oct 27, 2023 · Friedman examines the historical relationship between economic and political freedom, asserting that capitalism has played a pivotal role in the preservation of democracy and individual liberties. He criticizes centralized economic systems, suggesting that they inherently curtail freedoms and lead to authoritarian political structures .
