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Free to Choose: A Personal Statement
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Free to Choose: A Personal Statement Customer Reviews
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The principles of economic freedom are found in this book. A must read!
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The relationship between freedom and economics is undeniable. Also undeniable is the relationship between government and freedom. Milton Friedman brilliantly makes a clear persuasive case for the perpetuation of free markets and the elimination of big government, as a means of augmenting freedom worldwide and as a result expand prosperity. Although this book is over 27 years old, the economic principles of this book are as timeless as Adam Smith's "Wealth of Nations".
The book covers topics, such as socialized medicine, which is even more popular today, due in large part to the propaganda promulgated by the sensationalist media circuits. Of course, Americans do not want socialized medicine so proponents are euphemistically calling it "universal healthcare". Mr. Friedman expressed that "in our opinion there is no use whatsoever for socialized medicine. On the contrary, government already plays too large a role in medical care. Any further expansion of its role would very much against the interest of patients, physicians, and health care personnel." This book was written almost 3 decades ago when the expenditure of healthcare was huge, however, not as appalling as it is now at close to 15% of the country's GDP. There are many factors involved in the rising healthcare costs, not the least of which is the government's inability to operate any activity cheaper and more efficiently than the private sector. There are no exceptions to this. None! Unfortunately, the tendency of government is to increase funding for programs that don't work. If it isn't working, then it must mean it needs more funding, is the philosophy of government. This clearly goes counter to the much more efficient private sector where costs are controlled in order to attain a dirty little concept called profits. It is in the self-interest of people and companies and not their benevolence, that most of the freedom and economic progress is dependent upon, according to Adam Smith and Milton Friedman.
Mr. Friedman was a radical free trade crusader and the evidence espoused in this book is overwhelmingly effective at convincing most open-minded individuals. Friedman goes on to write "Wherever we find any large element of individual freedom, some measure of progress in the material comforts at the disposal of ordinary citizens, and widespread hope of further progress in the future, there we also find that market activity is organized mainly through the free market." He goes on to warn us that "Wherever the state undertakes to control in detail the economic activities of its citizens, wherever, that is, detailed central economic planning reigns, there ordinary citizens are in political fetters, have a low standard of living, and have little power to control their own destiny." He further declares that under such governments impressive monuments may be produced and a certain class may enjoy a full measure of material goods, however, ordinary citizens will become merely "instruments to be used for the state's purpose" and will receive only what is "necessary to keep them docile and reasonably productive."
Friedman also covers topics on education, consumer protection, inflation, unions and what he believed, at that time, was a "turning of the tide" into a more free market based mentality by the general population. This period, however, was when Carter was still in office and Reagan was coming in with his message of small government and as a result reduction in taxes. I'm afraid that we are again seeing a turning of the tide, this time, unfortunately, we are headed into larger government and more social programs, due in large part to the short memory of the American public of what communism used to be and the continual romanticizing of socialist countries that provide its population with cradle to grave social programs, almost always at the expense of freedom and progress. We must be careful!
This book is a must-read to gain a fundamental understanding of economics, and as a reminder of the basic economic principles that have made America great. Enjoy!
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