Capitalism and Freedom

Author: Friedman
Publisher:
Publish Date: 2004-07-01
Features: This book elaborates on the economic views of Western neoliberalism, which is an economically-oriented ideology closely tied to politics on the extreme right-wing side of the Western spectrum. They praise the market and price system of laissez-faire capitalism, believing it to be almost the best mechanism for solving any economic problem; they advocate that the state should create conditions to maximize the functioning of the market and price system. Although the economic views of neoliberalism are highly flawed, this book also contains some arguments and materials worth referencing. These materials help expose the harmful consequences that selfish and self-interested motives may have on society. The main argument of this book is: competitive capitalism—i.e., conducting part of our economic activities through private enterprises operating in free markets—is a system of economic freedom and a necessary condition for political freedom. The secondary argument of this book is: the role the government should play in a society committed to freedom and primarily relying on market organization to conduct economic activities.