Memoirs of Two Lucky People Friedman

Author: (USA) Friedman
Publisher:
Publish Date: 2004-01-01
Features: He is one of the most important economists of the 20th century after Keynes. If Keynes's spirit dominated Western economic policy in the first half of the 20th century, then Friedman's ideas influenced the entire second half of the century. This is a book worth preserving. Two lucky people, Nobel laureate in Economics Milton Friedman and his wife, Rose Friedman, together recall life and history, clearly outlining the development of Friedman's economic thought. Friedman was born into a poor Russian immigrant family, and the multicultural atmosphere of the United States allowed him to grow into a master of the "free-market economy" theory. As early as the 1950s, Friedman strongly criticized excessive government intervention in the market, which was at odds with the classic Keynesianism revered at the time. The "rebel" Friedman, with his deep understanding of the U.S. economy, clearly saw the theoretical crisis facing Keynesianism. He passionately advocated his unique economic insights and was always ready to debate others in the name of truth, enduring ridicule from people. After reflection, history was moved by him. For founding monetarist theory and proposing the permanent income hypothesis, Friedman won the Nobel Prize in Economics in 1976. He became one of the most influential economists of the 20th century, rivaling Keynes. In the United States, the proposals he put forward in the 1950s—low taxes, education vouchers, and negative income tax—gained widespread support. Outside the U.S., many developing countries accepted his "free-market economy" theory and abandoned the central planning economy they had adhered to for years. As an economist, Friedman did not isolate himself from the world; he widely interacted with political figures. He had close relationships with leaders from all over the world and made outstanding contributions to the field of public policy. The book also reveals some details of his time as an informal advisor to Presidents Nixon and Reagan. Friedman was also very skilled at promoting his economic theories. In 1980, he hosted a ten-part public television educational series, Free to Choose. While hosting this program, he seized the opportunity to express his economic views and strongly criticized government intervention in the economy. At the same time, Friedman co-authored a companion economics book with his wife, also titled Free to Choose. In this memoir, Friedman attributes his achievements to "luck"—to the free and open society of the United States, to the good teachers and friends he met in his student days, to the great changes he experienced during his time, and so on. Of course, the enduring love of his wife, Rose, who supported him for over 70 years, was also one of Friedman's "lucky" factors in achieving great success. The Friedman couple experienced many major historical events, from the Great Depression to the fall of the Berlin Wall. Moreover, because of the immense influence the couple had on the world, this memoir transcends mere personal boundaries, becoming a grand work that reflects on the history of the 20th century!