Milton Friedman and the simplicity of macroeconomics
Filed in archive 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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milton friedman macroeconomics capitalism and freedom 2007 milton+friedman
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