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Title: Capitalism and Freedom by Milton Friedman, Rose D. Friedman ISBN: 0-226-26421-1 Publisher: University of Chicago Press Pub. Date: November, 2002 Format: Paperback Volumes: 1 List Price(USD): $13.00 |
Average Customer Rating: 3.95 (58 reviews)
Rating: 5
Summary: Review of Capitalism and Freedom
Comment: Once this topic is discussed, it no longer can be denied that it,
having breeched itself, is a topic. Capitalism is indeed Freedom and Freedom is itself repeated, therefore Capitalism is as such the multiple of the same. Looking back through the years, Friedman has drawn on experience and observation to write this book. Crafting together letters to form words and thus meanings, Friedman expresses himself in a written language. The cover is also very cool.
Rating: 4
Summary: I am at disagreement on your opinions
Comment: Respectfully Dr. Friedman, you are a world known scholar and an intellect, and I lay claim to neither. But nonetheless I find myself in disagreement to some of your opinions; perhaps a result from my limited knowledge. In the first chapter you meticulously detail the direct relation between increased economic prosperity to greater personal freedom. This view certainly holds true to the western world; but a broader look into Asian countries show a contrary picture. At first United Arab Emirates (GNP per capita $20,000),
Kuwait (GNP per capita $24,000), Singapore (GNP per capita $27,000) have strict restrictions on personal freedom and are ruled by an absolute monarch. The said countries have economic indicators comparable to the countries in the west as United States of America (GNP per capita $30,000), United Kingdom (GNP per capita $20,883) and Spain (GNP per capita $16,700). On the other spectrum India with an instilled democratic state for the last 50 years has its economic indicators comparable to a third world nation (GNP per capita $2140).
Further along the reading you profess the need for smaller governments; with lesser intrusion from the government into the workings of a free market. But I feel disheartened that even with the government interventions there have been cases of utmost corruption in the corporate arena e.g. Enron, Martha Stewart. In the same breath I feel that with minimal government intervention we would eliminate the spirit of a free market; as corporations like Microsoft and Intel would in a flash wipe out their smaller competitors and create a monopoly.
In your suggestion for the elimination of minimal wages; are guarantees that the workers at the lower end of the scale are not left further in poverty. With no such barriers there would be a greater glut of cheap labor ready to work at lower wages. This creates an endemic of poverty and social/society ill-will. In addition I believe in the utter greed of capitalist who would pressurize the congress to allow more cheap labor for them to fatten their pockets. At present the economic divide is significant; I feel with the elimination of minimum wages would create a greater disparity.
The concept of providing parents with the vouchers is a great idea; at present being adapted by President Bush with the program "No child left behind"; but steps need to be ensured that the vouchers are only provided to lower income families. As the system can be abused by kids already going to private schools getting subsides for their education.
I find it difficult to comprehend your belief to unilaterally eliminate trade barriers. This gives a great edge to foreign competitors to move in their products. This would be comforting for the consumers; but placed at the expense of increased trade deficits. I believe the elimination of trade barriers not unilaterally but in a multilateral approach.
Rating: 2
Summary: Boring and boring...Now I understand...
Comment: Now I understand how this illustrious liberal writer must have won so many people to his cause. The book is so boring, so repetitive, with such a bad writing, that maybe people agree with him fast, just for the sake of having his mouth shut up!
I see some points he tries to make, but mos of them are silly and naive. Maybe he would not have written this kind of thing had he wrote in our century...
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Title: The Road to Serfdom by F. A. Hayek ISBN: 0226320618 Publisher: University of Chicago Press (Trd) Pub. Date: September, 1994 List Price(USD): $9.48 |
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Title: Free to Choose: A Personal Statement by Milton Friedman, Rose D. Friedman ISBN: 0156334607 Publisher: Harvest Books Pub. Date: November, 1990 List Price(USD): $15.00 |
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Title: Wealth of Nations (Great Minds Series) by Adam Smith ISBN: 0879757051 Publisher: Prometheus Books Pub. Date: December, 1991 List Price(USD): $11.00 |
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Title: The General Theory of Employment, Interest, and Money (Great Minds Series) by John Maynard Keynes ISBN: 1573921394 Publisher: Prometheus Books Pub. Date: May, 1997 List Price(USD): $14.00 |
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Title: Basic Economics: A Citizen's Guide to the Economy by Thomas Sowell ISBN: 046508138X Publisher: Basic Books Pub. Date: 26 December, 2000 List Price(USD): $32.50 |
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