American Consequences - July 2018

one After a decade of “stagflation” and idiotic economic policies

Free to Choose By Milton and Rose Friedman Nobel Prize-winning economist Milton Friedman (1912- 2006) possessed the wisdom behind market freedom. He was the 20th century’s leading academic theorist of free-market economics.

from Presidents Richard Nixon, Gerald Ford, and Jimmy Carter, America was suddenly exposed to clear, concise common sense about what market freedom means. It means every freedom we

But Free to Choose is a book for the general public written with his wife Rose, also an economist and with a degree in philosophy, too. The Friedmans explain why the free market is good for the rich, the poor, minorities, majorities, the disadvantaged, and those who (as politicians tell us) have so many advantages that regulatory agencies and the IRS need to take some away. The free market is not good for politicians. The free market distributes power to individuals. Politicians want that power for themselves. Free to Choose originally accompanied a 10-part PBS series of the same name, which began broadcasting in January 1980.

have. Freedoms are physical things. All the physical goods and services of the world (including freedom of speech and belief ) are traded in a marketplace. “If,” the Friedmans say, “an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it.” That’s the free market. When the market isn’t free, the exchange may not be voluntary. The exchange could take place under threat of force, even though you know you won’t benefit from it. You could be sold into slavery. The second message of Free to Choose is that

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