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We mourn the death of Milton Friedman, and celebrate his valour and his ideas, which made a modern case for the freedom and prosperity advocated by Adam Smith. His work was an uphill struggle against the dead hand of Keynesian economics.
Dr. Eamonn Butler of the Adam Smith Institute writes,
Of the professional economists of his generation, Milton Friedman stands out as the most conspicuous, persuasive and effective promoter of free markets and limited government. A leading representative of the Chicago School, his highly original restatement of the quantity theory of money gave foundation to his telling criticisms of the post-war Keynesian consensus and its interventionist attempts to manage employment, output, and exchange rates. This technical and professional work earned him the 1976 Nobel Prize. With his redoubtable wife Rose, he also co-wrote a number of popular books (and a television series), which engagingly expound the superiority of free markets and explore practical policy routes toward smaller government.
. . .The marketplace, in which people make daily decisions about dozens of goods and services, is far more efficient than the political ‘market’, in which we vote only rarely and for big policy packages. So, says Friedman, as many functions as possible should be delivered through the voluntary exchange system rather than through government. Yet there are limits to his libertarianism. He would still give government the roles of defense and policing, of enforcing contracts, protecting children and the mentally disabled, and providing public goods (such as roads) which are generally desired but not always provided by the market.
Like Adam Smith, whom we write about here, Friedman affected millions with his books. His Free to Choose, which he co-wrote with his wife Rose, has contributed to prosperity in the U.S. and the free countries of Eastern Europe.
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THE KNIGHT
Never a dull moment on the road to Runnymede
Includes how boys became men, chivalry and the Geneva Conventions, aid on your life's quest, and Magna Carta.
YOUR OWN CHOICE
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INGENIOUS INVENTORS
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A FEW IDEAS IN
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ABOLISHING SLAVERY
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SPORTS SPORTS SPORTS
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DAVID ABBOTT MD, MRCP
Over the last decade I have come to realise how much of all I value depends on ideas and traditions nurtured by Brits. I hope you will be inspired by what you find in this blog/website, and that you will help us to make it grow in brilliance and depth by becoming a Friend.
CATHERINE (CAT) GLASS
As an American who is the descendant of Czech, Irish, and English lovers of freedom, I am dedicated to bringing the courage and spirit of Brits at their best to you.
Join the CIRCLE OF FRIENDS HERE
The best of the Brits produced thousands of indispensable inventions, developed wildly popular sports, designed romantic houses and gardens, created astonishing literary masterpieces, lived with style and humour, tackled dangerous missions with daring and ingenuity, and fought with indomitable courage to establish and protect the free world. We aim to describe their superb achievements and extraordinary lives. We celebrate creativity and common sense, fair play and compassion, bravery and self-discipline, rational thought, freedom, faith, and wit.
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Contributor Masthead Design: Linda Wettengel
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Small boy on beach:
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