This advertisement has not loaded yet, but your article continues below. Writing in 1962, Friedman said he knew of no example, in any time or in any place, of a society that had offered substantial political freedom without also offering substantial economic freedom … If you want that kind of freedom, you must also have free markets. “Political and personal freedom” encompasses free elections, minority representation, freedom of expression, and the option to choose an unorthodox lifestyle. Here “economic freedom” refers to a system of free markets and private ownership that operates with limited interference from the government. The book’s central thesis is that economic freedom is a prerequisite for personal and political freedom. More than half a century later, it remains in print in over a dozen languages and ranks near the very top of Amazon’s list of bestsellers in economic theory.
In 1962, Milton Friedman burst forth from the academy into the public square with Capitalism and Freedom, subsequently ranked number 16 on Time Magazine’s list of the most influential books written in English in the years from 1923, when Time began, to 2011, when the list was compiled. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder.
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