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Global Economy
by tj on September 15, 2007
These were some of my thoughts reading (now it's 2007) through this book. It's amazing with how much foresight and simplicity Milton analyzes the (macro) economic policies of the 20th and 21st century. If only somebody (besides later the US) would have listened to him.
The 200 pages book (and it's small size) will gives simple but powerful advice on things like:
- political and economic freedom usually move along
- the role of governments in a free world
- why free trade helps everybody
- the role of a central bank
- education
- welfare
His arguments are amazingly clear and simple to understand - no trace of the often to be found flight in diagrams and mathematical proofs. It's simple logic that leads Milton through the jungle of macroeconomic policies. It's one of the most impressive books I have read for a while.
Certainly his influence on the Reagan administration brought many of his thoughts to live. But it's almost scary to see how 'right' intellectual can be and how policies can change the economic well being of so many people.
Why isn't it a mandatory read for all leaders of the world and even more so for (economic) policy makers in third world countries - these 200 pages would help making the lives of millions of people so much better.
macroeconomics can be so simple.
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Vote for Milton Friedman and the simplicity of macroeconomics:
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Rating: 8.00 out of 1 vote(s) cast.
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Response from:
edward
(09/16/07 9:31pm)
Response from:
Fred333
(09/19/07 11:59am)
Sounds like a very good read. I will have to go and look for it next time I am at the book store.
Response from:
Charles
(09/19/07 7:43pm)
Realy so simple?:) Oh no, things are only so simple when you only look at one aspect and leaf all other aspects. You can´t force Friedman´s ideas without make problems on other aspects you don´t look at that time. But Friedman´s ideas are nice and they where much noticed! Of cource.
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Both of them are elites of elites in investment sector, yet they are quite different.
Wealth creation: Warren Buffet by direct long-term investing on other public companies through its holding company named Berkshire Hathaway, which main business lies in insurance; while George Soros by hedge fund management
Amount of assets: Warren Buffet > George Soros
Impacts to global economy: George Soros > Warren Buffet, especially during late 1990s’ Asia financial crisis
Influence to the society: George Soros > Warren Buffet, George Soros is much more philosophical than Warren Buffet, well-known books include The Alchemy of Finance, Soros on Soros: Staying Ahead of the Curve, George Soros on Globalization and The Age of Fallibility: Consequences of the War on Terror (the latest release). George Soros is more open on disclosing how he thinks and acts on investing. Warren Buffet has not published anything so far, except his annual letters to the shareholders of his holding
company
Please note Jim Rogers was George Soros’s partner during the early years of Quantum Fund (was originally named Double Eagle Fund, and then renamed Soros Fund), during the interview, published in Soros on Soros, Soros acknowledged on Jim Rogers’ contribution to Quantum Fund in those days such as on identifying the rising potential of defense sector, and he added one remark, all of investment decisions was made by him, while Jim Rogers conducted all of research and analysis. They respected with each other very much. Jim Rogers was much more cynical towards Wall Street mainstream than that of Soros.
Of course, Jim still is, as an vivid proof, you may check his 2 rounds interviews with our Frontier Visionary Interview at http://www.hwswworld.com/interview.php,
they are al great minds, all very philosophical, ascending from technological and scientifical
Frontier Blog - search but not REsearch
http://www.hwswworld.com/wp