Milton Friedman By Milton Friedman

Milton Friedman succinctly explores the relationship between political freedom and capitalist economy, more so in regards to whether indeed freedom is related to capitalism. One thing that comes to the attention of any reader of Milton’s piece is whether capitalism paves ways of freedom. In his mind, Milton believes that a country that ratifies political freedom automatically promotes economic freedom. The government has a role in developing the country’s economy through different means such as taxation, minimum wage and the provision of essential services to the general public. His book inspires the thought to reduce the government’s involvement in economic matters. He argues that the involvement of the government in economic affairs leads …show more content…
He believes that it is only possible to attain that when the participation of the government in economic affairs is limited. For instance, when the government is given the full mandate of providing housing to its citizens, people would have limited options to do otherwise, which implies lack of freedom than its presence. The more involvement of the government in determining taxes imposed on goods makes them expensive for the low earners, hence giving wider opportunities to the few affluent. In this milieu, political freedom implies economic freedom. An individual is only free when he or he can make economic choices without any hindrance …show more content…
He defines liberty, which he ties to economic freedom associated with free markets where a seller is not dictated by the way he or she sells his products. Friedman identifies two types of freedom, which include personal, civil and political. However, he spends a greater part of his time delving into personal freedom and states that politics is bad since it limits the less affluent. However, it does not imply that the money an individual has can expose him or her to freedom. He thinks that rich people access a greater amount of freedom than the poor people. The argument seems to give more attention to the degree of spending power. However, the notion of freedom is an elaborate subject that cannot only be confined to wealth alone. Being free is to dwell in a more secure environment, which can only be done by the government. Therefore, the exclusion of the government in the establishment of economic policies would be a risky affair, since even when people have the needed power to save, other needs would prevail, which would make them