Capitalism and Freedom by F.A. Hayek

Author: Friedman
Publisher:
Publish Date: 2004-01-01
Features: This book elaborates on the economic views of Western neoliberalism, an economically-oriented ideological school closely tied to Western extreme right-wing politics. It praises the market and price system of laissez-faire capitalism, considering it almost the best mechanism for solving any economic problem; it advocates that the state should create conditions to maximize the function 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 an economic system of freedom and a necessary condition for political freedom. The secondary argument of this book is: the role the government should play in a society that is committed to freedom and primarily relies on market organization to conduct economic activities.