Overview
Milton Friedman was born in 1912 to parents who had emigrated from Europe for the freedom and opportunity to work hard and become successful. He earned a scholarship and worked his way through college. Drawn to the study of economics by two influential teachers and the Great Depression, his scholarly research focused on the role of money in promoting economic growth and stability.
Over time Friedman became convinced that free markets and individual liberty were inseparable. While he recognized that government has an important role to play in protecting people's rights, he also believed that government does the most to promote prosperity and protect freedom when its role is limited. Short in stature but a giant intellectually, he received the Nobel Prize in Economics for his contribution to monetary history and theory, which indicated that the Great Depression was caused and prolonged by monetary policy that interfered with the self-correcting forces of the market.
Synopsis
Milton Friedman was born in 1912 to parents who had emigrated from Europe for the freedom and opportunity to work hard and become successful. He earned a scholarship and worked his way through college. Drawn to the study of economics by two influential teachers and the Great Depression, his scholarly research focused on the role of money in promoting economic growth and stability.
Over time Friedman became convinced that free markets and individual liberty were inseparable. While he recognized that government has an important role to play in protecting people's rights, he also believed that government does the most to promote prosperity and protect freedom when its role is limited. Short in stature but a giant intellectually, he received the Nobel Prize in Economics for his contribution to monetary history and theory, which indicated that the Great Depression was caused and prolonged by monetary policy that interfered with the self-correcting forces of the market.
School Library Journal
Gr 8 Up–These books provide in-depth personal histories coupled with detailed analyses of the subjects' theories. Relationships, education, early influences, and family life are all described, creating fairly complete pictures of the individuals. Economic theory is closely tied to cultural and political events, and the authors make every effort to highlight how these differing influences impacted both the theorist and the idea. While the other books are generally positive, Marx is negative, both about the man's theories on socialism and regarding his personal life. While the writing is straightforward, the authors assume a certain level of knowledge about world events. Worthwhile purchases.