1st Edition

An Analysis of Milton Friedman's Capitalism and Freedom

By Sulaiman Hakemy Copyright 2017
    96 Pages
    by Macat Library

    96 Pages
    by Macat Library

    Milton Friedman was arguably the single most influential economist of the 20th-century. His influence, particularly on conservative politics in America and Great Britain, substantially helped – as both supporters and critics agree – to shape the global economy as it is today.

    Capitalism and Freedom (1962) is a passionate but carefully reasoned summary of Friedman’s philosophy of political and economic freedom, and it has become perhaps his most directly influential work. Friedman’s argument focuses on the place of economic liberalism in society: in his view, free markets and personal economic freedom are absolutely necessary for true political freedom to exist.

    Freedom, for Friedman, is the ultimate good in a society – the marker and aim of true civilisation. And, crucially, he argues, real freedom is rarely aided by government. For Friedman, indeed, “the great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government”. Instead, he argues, they have always been produced by “minority views” flourishing in a social climate permitting variety and diversity.” In successive chapters, Friedman develops a well-structured line of reasoning emerging from this stance – leading him to some surprising conclusions that remain persuasive and influential more than 60 years on.

    Ways In to the Text 

    Who was Milton Friedman? 

    What does Capitalism and Freedom Say?

    Why does Capitalism and Freedom Matter?  

    Section 1: Influences 

    Module 1: The Author and the Historical Context 

    Module 2: Academic Context 

    Module 3: The Problem 

    Module 4: The Author's Contribution 

    Section 2: Ideas 

    Module 5: Main Ideas 

    Module 6: Secondary Ideas 

    Module 7: Achievement 

    Module 8: Place in the Author's Work 

    Section 3: Impact 

    Module 9: The First Responses 

    Module 10: The Evolving Debate 

    Module 11: Impact and Influence Today 

    Module 12: Where Next? 

    Glossary of Terms 

    People Mentioned in the Text 

    Works Cited

    Biography

    Sulaiman Hakemy holds a master’s degree in economic history and development from the London School of Economics. A writer and journalist, he has reported on industry, politics, and culture for various publications. His background is in the development, aid and urban planning sectors, specialising in conflict and fragile states. He is based in Istanbul and Toronto, and speaks English, French, Spanish, Arabic, Persian, and some Urdu.