It's as clear an exposition as you're likely to find of the free market economics that influenced Margaret Thatcher and Ronald Reagan, leading to one of the greatest economic booms in history and arguably spelling the end of communist power.Milton Friedman is a Nobel prize-winning economist, winning the prize in recognition of his work on the money supply and inflation. Free To Choose has a good claim in this respect arriving as it did in 1980. Read moreĮvery once in a while a book crystallises a world view. The same cycle appeared with the advent of trucking, leading to solutions like extremely expensive ICC certificates and rate "problems" being solved by raising long-haul to match short-haul rates. Satisfied of the regulation, they moved on to other causes while the railroads put lobbyists and "revolving door" consultants in the regulatory positions. The railroads came under regulation because activists saw their monopoly power. No example is more effective to me than that of the railroads and the ICC. Moreover, the poor start working at a younger age, work to an older age, and have a short life expectancy during which to enjoy the same result. He also shows how the income tax system is even more regressive than I formerly thought. Another idea the Friedman brings out is that socialism has moved from controlling the means of production to controlling the result directly.
He mentions that at the time of writing, all cars had to have seat belts but no one was - yet - required to wear them.
The greater dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding."I like how Friedman shows the numerous restraints and how, individually they seem petty, but in aggregate our quite a net. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. United States: "Experience should teach us to be most on our guard to protect liberty when the government's purposes are beneficial. The opening quote is from Justice Louis Brandeis' opinion in Olmstead v. A very effective conveyance of the meaning of free market economics and its value to the consumer.
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