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3 Ideas from Milton Friedman that Could Really Help the World Right Now

Posted on November 13 2010 1:00 pm

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It’s been an amazing journey since the fall of the Iron Curtain. Socialism as an integrated ideal has fallen but socialists’ policies are still very much alive today.

This is why we need to reexamine one of great economists of the 20th century: Milton Friedman. Friedman is a Nobel Prize winner for Economics and a recipient of the Presidential Medal of Freedom from President Ronald Reagan. During the Cold War, along with other Free Market thinkers, his books were circulated in Communist countries clandestinely, which helped give the good guys fighting tyranny, intellectual ammunition and an alternative to the slave pen they had. Hopefully this piece provides the champions of freedom a little of both.

Milton Friedman took some stances which are contrary to a fully free Laissez-faire capitalist system, some were corrected with age, some were not. Therefore, I must stress that Friedman is not the perfect champion for capitalism, like some people have made him out to be. But his contribution in making the world significantly freer and the intellectual contributions he made during his lifetime are things that makes him deserve the acclaim he gets and the proper legacy as one of the good guys in the intellectual war in the 20th Century.

Here are some ideas of his that the world could really use amidst the big government onslaught that’s engulfing much of it. May these ideas undermine statism now as much as it did in Friedman’s heyday.

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