Book Review – F.A. Hayek’s Road to Serfdom
F.A. Hayek’s Road to Serfdom
Nobel Prize-winning economist Milton Friedman, an outspoken advocate of free markets and free choice, adviser to presidents and best-selling author, died November 16, 2006. He was 94. Often described as one of the most influential economists of the last century, Friedman died of heart failure in San Francisco. Friedman led the Chicago School of monetary economics, which stresses the importance of the money supply in determining inflation and business cycles.
He was instrumental, along with 2006 Nobel winner Edmund Phelps, in promoting the view that there is not a sustainable long-run tradeoff between inflation and unemployment. Instead, allowing a rise in inflation to boost employment could result in higher price pressures and stagnant job growth.
Introduction to the 50th anniversary edition of F.A. Hayek’s Road to Serfdom
by Milton Friedman
A classic work in political philosophy, intellectual and cultural history, and economics, The Road to Serfdom has inspired and infuriated politicians, scholars, and general readers for half a century.
Free To Choose
by Milton Friedman
The international bestseller on the extent to which personal freedom has been eroded by government regulations and agencies while personal prosperity has been undermined by government spending and economic controls.
FRIEDMAN: I won the Nobel Prize in 1976, and I won it for none of those things, but for “Monetary History of the United States “and an earlier book of mine called “A Theory of the Consumption Function,” which, I may say, are funny things. “A Theory of the Consumption Function” is, in my mind, the best thing I ever did as a piece of science. “Monetary History” is undoubtedly the most influential, and “Free to Choose is the best selling,” so they are not similarly characterized.