Capitalism can be viewed as an economic system that has been a driving force in many advanced economies, fostered growth and innovation, enabled people to lift themselves out of poverty, and greatly improved living standards. But it also has many staunch critics, who will argue that, regardless of outcomes or track records, it is a deeply harmful and exploitative system. So, to clear up any confusion, what really is capitalism, and what isn’t it?
In honor of Milton Friedman’s birthday, let’s review the American economist’s greatest contributions to the advocacy of free market capitalism.
During policy debates on healthcare most people assume that more healthcare leads to better outcomes. What if that assumption is false?
Isn’t a Universal Basic Income just another name for a negative income tax, such as Tax = -$10,000 + .3*Income? If so, isn’t a Universal Basic Income means-tested by definition?
Classical liberals all agree that government should be limited, but they disagree about how they get to that conclusion.
Today would have been Milton Friedman’s 104th birthday. Perhaps no one in history was as successful as Friedman at introducing people to the ideas of liberty and a free society. His bi-weekly column in Newsweek distilled the concepts of freedom to current events for millions of readers, and his 1980 Free to Choose PBS series set the […]
In addition to being an anarchist, economist, and son of Milton Friedman, David Friedman is a fan of Recreational Medievalism. Recreational Medievalism includes a range of activities, which can include historical recreation like that of the Society for the Creative Anachronism and cooking recipes from medieval Europe. You can learn more on David Friedman’s website
Did you know that Milton Friedman won the Nobel Memorial Prize in Economics in 1976?