book hack

Capitalism and Freedom

Milton Friedman

5 mins

3 key insights

Visual, audio & text

Capitalism and Freedom helps us understand the most important factors protecting our liberty by outlining the government's role in economics and the consequences of a country staying out of the money flow.

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Capitalism and Freedom

Capitalism and Freedom

by Milton Friedman

Overview

The victory of the West's capitalism over Soviet socialism in the Cold War cemented the former as the leading system. Government leaders and scholars initially both agreed that this was the way to go. Margaret Thatcher proposed that there was no alternative at the time.

But now, in the wake of the 2008 financial crisis, politicians and citizens are questioning whether the risks of this economical standard are worth it. On the other hand, the tenets of communism are back on the rise.

In Capitalism and Freedom, Friedman teaches the benefits of capitalism. He also reveals how monopolies, poorer living standards, and inequality all result when politicians get excessively involved in the economy.

Favorite quote

To the free man, the country is the collection of individuals who compose it, not something over or above them.

- Milton Friedman

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