Free to Choose
by Milton and Rose Friedman

Economic analysis of current economic problems written for the layman. Best point: in politics there is an invisible hand that turns programs aimed at the general interest into programs that only benefit special interests at the expense of the general interest. (Actually, the hand is not invisible. You can see it if you look for it.) Most of the book is good, but it lacks radicalism and moral enthusiasm. They propose solutions based on what they think might be politically possible at the moment rather than based on what is best. They are weakest on neighborhood effects (because they have no theory of legitimate property rights and moral responsibility) and on inflation (which they think should be no less than 3% and no more than 5% to correspond with the growth in productivity. They don't address foreign affairs or defense except that they advocate free trade.

Year Read: 1980

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