By Lanny Ebenstein
Born the son of immigrant mom and dad, Milton Friedman went directly to turn into a massive determine through the resurgence of yankee conservatism. As an adviser to the Reagan management and a greatly learn columnist, he performed an essential function in shaping executive coverage and public opinion whereas he made headlines for his arguable views.
Drawing at the author's unparalleled entry to non-public archives--and to Friedman himself ahead of his demise in 2006--this is the 1st ebook to track his existence and improvement as an fiscal theorist. With a mix of unveiling own aspect and engaging exploration of monetary concept, it is a revealing examine the fellow appeared via many as a hero of libertarianism and laissez-faire economics.
Ebenstein creates an image of Milton Friedman, one of many top economists and political philosophers of the 20 th century, as not only a respected monetary theorist but in addition a public highbrow. Ebenstein starts with Friedman's formative years and early occupation, relocating via his lengthy tenure as an economist on the collage of Chicago, and completes the e-book with an image of Friedman as a popular public determine. accomplished earlier than Friedman's demise, in November 2006, the publication espouses Friedman's ideals in libertarianism, the unfastened marketplace, and capitalism. He used to be recognized for his debatable stances and robust effect on leaders of the day. via long interviews with Friedman and his spouse, Rose, an image of him as kin guy, Nobel Prize winner, and consultant to a number of presidents emerges. Ebenstein's realization to aspect and copious fees from others who knew Friedman good make for a fascinating photo of 1 of America's most vital financial theorists. -Gail Whitcomb
First autopsy tribute to the main influential champion of the loose marketplace considering that Adam Smith. really, Ebenstein (Economics and Political Theory/Univ. of California, Santa Barbara) refers to his topic all through within the current demanding, it sounds as if now not having had the chance to replace his textual content because the economist's loss of life, on Nov. sixteen, 2006. Born in 1912, Milton Friedman was once a puissant instructor and chief of the so-called Chicago tuition of financial idea. He additionally wonderfully healthy the trendy task description of a public highbrow. With only a nod to his own lifestyles, this tribute lauds Friedman as philosophical technician and theoretical guru of recent day laissez-faire. maybe, posits the writer, he's the Karl Marx of libertarianism. Ebenstein quick covers the economist's early educational years and holiday for provider as a WWII mathematician, earlier than quite getting going with Friedman's go back to the college of Chicago in 1946. He makes use of examples from scholarly writings to demonstrate the economist's evolution from attainable early liberal trends to full-blown libertarianism. Readers will locate summaries of Friedman's techniques on data, political economics, fee idea and intake functionality, discounts and making an investment, provide and insist, everlasting and transition source of revenue, funds and banking. The influential 1963 textual content A financial historical past of the U.S., 1867 - 1960 offered a revisionist view of the nice melancholy, arguing that the recent Deal used to be "the fallacious remedy for the inaccurate disease." concerning welfare, Friedman concluded, "government will not be offer for the indigent, unemployed, aged, in poor health, and disabled." The free-market hero, with the aid of spouse Rose, wrote potently. He promoted his principles in a PBS sequence. He supplanted John Maynard Keynes within the hearts of many theorists, gained a Nobel and stimulated generations along with his strong mind. Ebenstein, truly persuaded by way of the libertarian perspectives of his respected topic, unearths little fault together with his hero during this dry hagiography achieved with as a lot verve as an economist can muster.An fiscal biography for fiscal theorists, really these at the correct. (Kirkus Reviews)
"A necessary homage to Friedman's ideas."--The monetary occasions "[A] rounded, readable portrait of a guy whose influence at the lives of thousands within the twentieth century is measured no longer through his rivals and enemies, yet by means of the participants he converted."--The Chicago Sun-Times "Quite convenient. It marshals plenty of fabric, and to devotees the bibliographical essay on the finish will be definitely worth the conceal cost in itself."--The Economist "This biography doesn't skimp at the info of Friedman's existence. good written, completely researched, and straightforward to learn, it effectively explains how Friedman's principles proceed to resonate."--Library magazine "A unusually readable, succinct portrait of the combative economist."--Bloomberg information "Ebenstein covers loads of fabric with an attractive, vigorous style."--Democracy"For those that understand little approximately Friedman, and need to understand extra, this ebook is an efficient position to start... good documented."--Journal of Markets & Morality
"An soaking up publication concerning the existence, battles, and a few of the tips of a superb economist. certainly worthy interpreting to aid comprehend the improvement of a unprecedented individual."
--Gary S. Becker, Nobel Laureate in Economics
"Lanny Ebenstein supplies us a cautious and illuminating exposition of the lifestyles and ideas of Milton Friedman. A really worthwhile read."
--George P. Shultz, Thomas W. and Susan B. Ford distinctive Fellow, Hoover establishment, Stanford University
"A strong publication concerning the so much influential economist seeing that Adam Smith."
--Martin Anderson, former family and fiscal coverage consultant to President Reagan