Capitalism and Freedom Study Guide & Plot Synopsis

Capitalism and Freedom Plot Summary

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Capitalism and Freedom was written by Milton Friedman in 1962 to defend what Friedman calls the liberal (or today what would be called libertarian) approach to economic policy in the face of very different views defended by social democrats or false liberals, as Friedman would have it. The book was a massive success, defending the economic institutions of the United States prior to the Great Depression. Friedman's book is full of proposals that will seem shocking to some today but were particularly radical for his time.

In fact, many of Friedman's proposals have been influential. Today, the flat tax he advocated has spread throughout former communist countries, his floating exchange rate is used throughout the world and school voucher programs are becoming more popular. Free trade has increased substantially since 1962, though not to the radical extent Friedman proposes. The book was widely read, selling half a million copies...
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