Friday, 23 October 2009

Link: Me on Milton Friedman, ‘Capitalism and Freedom’

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Milton Friedman (1912-2006), Capitalism and Freedom (1962) at LiberalVision, 23 October 2009.

Looks at income tax, basic income, public goods and bads, business-government links, public housing, rent control, school choice in an influential book on public policy by a major economists. There is an emphasis on how much Friedman was looking at improving the situation of the poorest, and government action in areas of public goods and bads.

And no the recession has not ‘disproved’ Friedman or ‘proved’ Keynesianism which continues to be a lot less influential that it was in the 60s and 70s. And no Friedman, and those associated with him did nor ‘forget’ the ‘lessons’, of the Great Depression, about which Friedman was very well informed as shown in his book A Monetary History of the United States. Most free market orientated economists do not accept his views on money supply in their pure form, but has a continuing influence on the nature of economics, and the political economy of public policy.

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