Best Selling Books by Milton Friedman

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release date: Nov 15, 2002
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Capitalism and Freedom: Fortieth Anniversary Edition
Selected by the Times Literary Supplement as one of the "hundred most influential books since the war"

How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.
release date: Nov 26, 1990
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Free to Choose: A Personal Statement
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. New Foreword by the Authors; Index.
release date: Feb 01, 1993
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Why Government Is the Problem (Essays in Public Policy)

The major social problems of the United States—deteriorating education, lawlessness and crime, homelessness, the collapse of family values, the crisis in medical care—have been produced by well-intended actions of government. That is easy to document. The difficult task is understanding why government is the problem. The power of special interests arising from the concentrated benefits of most government actions and their dispersed costs is only part of the answer. A more fundamental part is the difference between the self-interest of individuals when they are engaged in the private sector and the self-interest of the same individuals when they are engaged in the government sector. The result is a government system that is no longer controlled by "we, the people." Instead of Lincoln's government "of the people, by the people, and for the people," we now have a government "of the people, by the bureaucrats, for the bureaucrats," including the elected representatives who have become bureaucrats. At the moment, term limits apear to be the reform that promises to be most effective in curbing Leviathan.

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A Monetary History of the United States, 1867-1960

Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues."

Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, The Great Contraction--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: "If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger."

Milton Friedman won the Nobel Prize in Economics in 1976 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).

release date: Oct 15, 1994
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The Road to Serfdom: Fiftieth Anniversary Edition
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. Originally published in England in the spring of 1944--when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program--The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.

First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate attention from the public, politicians, and scholars alike. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 were sold. In April of 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this condensation to more than 600,000 readers. A perennial best-seller, the book has sold over a quarter of a million copies in the United States, not including the British edition or the nearly twenty translations into such languages as German, French, Dutch, Swedish, and Japanese, and not to mention the many underground editions produced in Eastern Europe before the fall of the iron curtain.

After thirty-two printings in the United States, The Road to Serfdom has established itself alongside the works of Alexis de Tocqueville, John Stuart Mill, and George Orwell for its timeless meditation on the relation between individual liberty and government authority. This fiftieth anniversary edition, with a new introduction by Milton Friedman, commemorates the enduring influence of The Road to Serfdom on the ever-changing political and social climates of the twentieth century, from the rise of socialism after World War II to the Reagan and Thatcher "revolutions" in the 1980s and the transitions in Eastern Europe from communism to capitalism in the 1990s.

F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.

On the first American edition of The Road to Serfdom:
"One of the most important books of our generation. . . . It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay On Liberty. . . . It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen."--Henry Hazlitt, New York Times Book Review, September 1944

"In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often--at any rate, it is not being said nearly often enough--that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of."--George Orwell, Collected Essays

release date: Apr 01, 2017
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Milton Friedman on Freedom: Selections from The Collected Works of Milton Friedman (Hoover Institute Press Publication)
In this book, Robert Leeson and Charles Palm have assembled an amazing collection of Milton Friedman’s best works on freedom. Even more amazing is that the selection represents only 1 percent of the 1,500 works by Friedman that Leeson and Palm have put online in a user-friendly format—and an even smaller percentage if you include their archive of Friedman’s audio and television recordings, correspondence, and other writings. This book and the larger online collection are sorely needed and very welcome. Milton Friedman deserves to be read in the original by generation after generation.
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release date: Dec 04, 2016
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Milton Friedman: The Essential Collection
One of the most influential economists of the 20th century, Milton Friedman was a voice for free market economics and limited government. Friedman showed how free markets and human freedom are inextricable, and how government intervention often hinders human progress despite its best intentions. Topics include: • morality in relation to economics • is America getting better or worse • the real nature of freedom • is greed good? • how much government do we need • what the example of Hong Kong teaches us • myth of the robber barron • what really caused the great depression • Reaganomics and more.
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release date: Apr 28, 2015
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A Theory of the Consumption Function
2015 Reprint of 1957Edition. Full Facsimile of the original edition. Not reproduced with Optical Recognition Software. In this book Friedman developed the permanent income hypothesis (PIH). As classical Keynesian consumption theory was unable to explain the constancy of savings rate in the face of rising real incomes in the United States, a number of new theories of consumer behavior emerged. In his book, Friedman posits a theory that encompasses many of the competing hypotheses at the time as special cases and presents statistical evidence in support of his theory. "Friedman described Keynes's theory of a declining propensity to consume as 'very imaginative and thoughtful.' But in "A Theory of the Consumption Function" (1957), he demonstrated that while the hypothesis seemed to make psychological sense, it was empirically false. In relating income to propensity to consume, Keynes had erred in not distinguishing between 'transitory' and 'permanent' income. In fact, consumption does not decline as incomes generally rise. Economists across the political spectrum agreed with Friedman's refutation of Keynes...."--James A. Nuechterlein, Commentary
release date: Dec 25, 2019
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Free to Choose
this book is a personal statement by the author,and his wife.
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release date: Dec 25, 2019
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When We Are Free
When We Are Free. A collection of essays centered on freedom and individual responsibility. Compiled by Northwood University.
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