Capitalism and Freedom by Milton Friedman

Capitalism and Freedom by Milton Friedman is one of the most influential works of economic and political thought of the twentieth century. First published in 1962, the book presents Friedman’s powerful argument that economic freedom is a necessary condition for political freedom, and that the preservation of both depends on limiting the scope of government intervention.

Friedman critiques the growing role of government in markets and daily life, warning that central control erodes individual liberties. He advocates instead for free-market principles as the most effective means of promoting prosperity, innovation, and personal choice. In clear and accessible language, Friedman tackles issues such as monetary policy, taxation, education, occupational licensing, welfare, and international trade, always returning to the theme that voluntary exchange and individual initiative are the cornerstones of a free society.

More than just an economic treatise, Capitalism and Freedom became a manifesto for the modern libertarian and free-market movement, influencing policymakers and economists around the world. Its insights continue to resonate, sparking debate about the proper balance between government authority and individual liberty in contemporary society.