We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Free to Choose: A Personal Statement, by Milton and Rose Friedman - Essay Example

Comments (0) Cite this document
BOOK REVIEW Free to Choose: A Personal Statement by Milton and Rose Friedman is a classic book related to economics and it echoes the Friedmans’ ardent beliefs in the concept of free markets and capitalism. In fact, the television series Free to Choose is based on this book…
Download full paper
Free to Choose: A Personal Statement, by Milton and Rose Friedman
Read TextPreview

Extract of sample
Free to Choose: A Personal Statement, by Milton and Rose Friedman

Download file to see previous pages... The book has explained the causes of erosion of our freedom and also suggested some remedies. The Friedmans in order to articulate the indispensability of the market economy in a free society has incorporated free market principle and Jefferson’s Declaration in their attempt to argue for it. It has been pointed out in this book that the phenomenal success of the United States, coined as an “economic miracle and political miracle” (Friedman & Friedman, 1) has been possible due to the amalgamation of both Adam Smith and Jefferson’s Declaration of Independence. The commendable performance of the American economy can be attributed to the economic and political freedom and not mere by directions from the government. The book has showed that unlike the traditional belief that “failure of free market mechanism” (Friedman 7 Friedman, 5) is responsible for the Great Depressions, government failure in money where it exercised authority is responsible. Milton Friedman was a renowned American economist and statistician. He was honored with the noble prize for his contribution to economics in 1976. Friedman’s contribution to economics ranges from quantity theory of money to Philip’s Curve but his contribution in the field of monetary economics has been praised the most. He is also known for his works in other issues like tax policy, theory of consumption function and price regulation. As his works have an element of monetarists value and classical ideals it has successfully reached beyond the division of academic and public. Friedman had authored many books and through his books he had expressed his opinions (“Milton Friedman”). Rose Friedman was born in 1911 and she was a free market economist. In her early career in economics research she had made consumer spending data which was later seen Milton Friedman’s book “A Theory of the Consumption Function.” Rose had met Milton Friedman in the year 1932 when they were graduating from University of Chicago and six years later they got married. She had also completed her PhD from the same university. The couple together had written “Free to choose” (1980), “The Tyranny of the Status Quo (1982), and “Two Lucky People (1998). The couple had always voiced their opinion for free market mechanism in their writings. Together the couple had also laid the foundation of the Milton and Rose D. Friedman Foundation. The aim of this foundation is to promote the concept of freedom of choice in education (Weber). The authors belong to the “network of economists” at the Chicago University and the work Free to Choose is a relatively familiar work presenting everything is clear and perceptible manner. It is a more general work on capitalism and democracy rather than specific to economic indicators. According to Smith, Freidman’s work was “unsympathetic to the political programmes which attempted to implement egalitarian measures” (Smith 169) At this point I agree with Smith. Bernanke (2002) wonderfully explains Friedman’s work with respect to monetary policy as “Hippocratic principle for monetary policy”, that is, “First, do no harm”. Friedman’s description of money and its potentiality of doing any harm when it goes out of order have been analyzed in this context. The authors in this book said ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Free to Choose: A Personal Statement, by Milton and Rose Friedman Essay”, n.d.)
Free to Choose: A Personal Statement, by Milton and Rose Friedman Essay. Retrieved from https://studentshare.org/macro-microeconomics/1433362-free-to-choose-a-personal-statement-by-milton-and
(Free to Choose: A Personal Statement, by Milton and Rose Friedman Essay)
Free to Choose: A Personal Statement, by Milton and Rose Friedman Essay. https://studentshare.org/macro-microeconomics/1433362-free-to-choose-a-personal-statement-by-milton-and.
“Free to Choose: A Personal Statement, by Milton and Rose Friedman Essay”, n.d. https://studentshare.org/macro-microeconomics/1433362-free-to-choose-a-personal-statement-by-milton-and.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Book Review on Free to Choose: A Personal Statement, by Milton and Rose Friedman
This is accomplished both by reducing the “nanny state,” where government acts as a benevolent dictator and attempts to regulate things that are not in the best interest of the individual, such as implementing seatbelt laws and the like, and by reducing government regulations of the market.
5 Pages(1250 words)Essay
Investment theory and property diversification
In simple words diversification of funds help to reduce market risks that has four strong building blocks of an investment portfolio known as Cash, Fixed Interests, Property and Shares. Financial professionals generally agree there are four broad classes of assets such as stocks, fixed income or bonds, cash equivalents and other tangible assets such as real estate.
5 Pages(1250 words)Essay
Personal statement
New York City is an essential element of academic and cultural life at NYU. If you could start a club or service organization at NYU, what would it be and how would you envision it impacting the larger community. NYU is a private school with a
4 Pages(1000 words)Essay
Milton Friedman- Economics
Millions had their economic opportunities stolen from them. The United States and its allies, however, pursued a different path. They opened up their economies, gave power to their people, and
4 Pages(1000 words)Essay
A Rose for Emily by Faulkner's
So she created a world within her mind wherein her tormentor continued to live in order to help her cope with an unexpected change in her life. The novel in itself is also a study in racism during this particular
1 Pages(250 words)Personal Statement
5 pages essay
Milton and Friedman argues that capitalism is characterised by the ‘the power of the market’ (Friedman and Milton, 1990, 9). To Milton the production of goods and services is not as a result of the
5 Pages(1250 words)Essay
Personal statement
Unfortunately, I was not able to pass the organic chemistry exam and the physics one. I have, however, put my life back on track and solved my problems. This is after realizing that I am the one that they are looking up to in order for me to rescue them from poverty and
1 Pages(250 words)Essay
Personal statement
Since he ascended the throne on August 1, 2005, all-round progress of the country has accelerated and he is among the most powerful people ranked 8th globally.
1 Pages(250 words)Essay
Personal statement
Thus, I am certain that I will achieve this by pursuing the highest education level in Criminal Justice. I am a holder of a Bachelor of Science in Biology from the King Saud University in 1997 and
3 Pages(750 words)Essay
Personal statement
At a personal level, I struggled with maintaining doctor- patient relationships. My endeavor to work past this challenge had little progress and I soon realized that my
2 Pages(500 words)Essay
Let us find you another Essay on topic Free to Choose: A Personal Statement, by Milton and Rose Friedman for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us