New Releases by Milton Friedman

The story of Rose and Milton Friedman’s incredible lives and influential work told in their own words, now with a new foreword by Sebastian Edwards. In Two Lucky People, Rose and Milton Friedman provide a memorable and lively account of their lives, the people they knew, and the work they shared. Their involvement with world leaders and many of this century's most important public policy issues moves their memoir beyond the merely personal and makes fascinating reading for anyone interested in the history of twentieth-century ideas. This new edition of the Friedmans’ jointly authored memoir includes a foreword by economist Sebastian Edwards, the Henry Ford II Professor of International Economics at the University of California, Los Angeles.

These two volumes present essays on the subdiscipline of Chicago Monetarism in economics. Some of the issues under dispute can be regarded as resolved, while others are still being debated. The contibutors include Friedman, Patinkin, Harry Johnson and James Tobin.

These two volumes present essays on the subdiscipline of Chicago Monetarism in economics. Some of the issues under dispute can be regarded as resolved, while others are still being debated. The contibutors include Friedman, Patinkin, Harry Johnson and James Tobin.

Milton Friedman deixa claro que ninguém, desde o vendedor da esquina até o banqueiro de Wall Street e o presidente do país, está imune à economia monetária. Em Erros e Acertos do Dinheiro , Friedman analisa a criação de valor: das pedras às penas e ao ouro. Ele delineia o papel central da teoria monetária e mostra como ela pode agir para começar ou aprofundar a inflação. Por meio de episódios históricos, ele demonstra o mal que pode resultar de uma compreensão equivocada da economia monetária — por exemplo, como o trabalho de dois químicos desconhecidos destruiu as chances presidenciais de William Jennings Bryan e como a decisão tomada por Franklin D. Roosevelt para acalmar alguns senadores do Oeste dos Estados Unidos ajudou o comunismo a triunfar na China. Além disso, ele também explica, em uma linguagem acessível, como o sistema monetário atual influencia seu salário, suas economias e a economia global.

Nesta obra hoje clássica, Milton Friedman apresenta a argumentação da sua filosofia económica, que se viria a tornar influentíssima. Para o autor, Prémio Nobel da Economia, o capitalismo em regime de livre concorrência funciona simultaneamente como veículo para se atingir a liberdade económica e como condição necessária para a liberdade política.

Tato kniha vznikla v 60. letech minulého století jako reakce na poválečné snahy americké vlády zvyšovat svoji roli v ekonomice a centralizovat ekonomické rozhodování a moc. Autor ovšem v knize tvrdí, že politická a ekonomická svoboda jsou neoddělitelně spjaty – jedno bez druhého nemůže existovat.Ohledně přínosu politické svobody se dnes již spory nevedou, na straně ekonomických zásahů ale taková shoda nepanuje. Centralizace rozhodování a masivní vládní zásahy do hospodářství jsou i dnes na denním pořádku a Friedmanova kniha má v tomto ohledu čtenáři stále co nabídnout. Autor argumentuje pro laissez faire a svobodnou volbu jednotlivce před vládními zásahy do trhů prostřednictvím cel, dotací a regulací. Čtenář se v knize dozví celou řadu konkrétních ekonomických návrhů směřujících ke svobodnější a více prosperující společnosti a sám si může udělat obrázek, jak se za posledních desítek let debata (ne)posunula.

One of the most significant works of economic theory ever written, from the "outstanding [and] unfailingly enlightening" Milton Friedman ( Newsweek). One of Time magazine's All-Time 100 Best Nonfiction Books One of Times Literary Supplement's 100 Most Influential Books Since the War One of National Review's 100 Best Nonfiction Books of the Century One of Intercollegiate Studies Institute's 50 Best Books of the 20th Century 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 an 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. First published in 1962, Friedman's Capitalism and Freedom is one of the most significant works of economic theory ever written. Enduring in its eminence and esteem, it has sold nearly a million copies in English, has been translated into eighteen languages, and continues to inform economic thinking and policymaking around the world. This new edition includes prefaces written by Friedman for both the 1982 and 2002 reissues of the book, as well as a new foreword by Binyamin Appelbaum, lead economics writer for the New York Times editorial board.

“Milton Friedman, dikkat çekici analitik yetenekleri ve teknik ustalığıyla diğerlerinden ayrılan, ABD’nin olağanüstü iktisatçılarından biri. Her zaman aydınlatıcı, özgür, cesur, zeki ve en önemlisi de ufuk açıcı.” Henry Hazlitt, Newsweek “Kendi meslektaşlarının düşünüş şeklini büyük ölçüde değiştirebilen bir profesör çok nadirdir. Dünyanın değişmesine etki edeni daha da nadirdir. Friedman ikisini de başardı.” Stephen Chapman, Chicago Tribune Kapitalizm ve Özgürlük’ün ilk baskısı 1962 yılında yayınlandığında, Büyük Buhran’ın acı hatıraları Amerikan halkının önemli bir kısmının hafızasında halen canlıydı. O dönemde, entelektüellerin yanı sıra hem Cumhuriyetçi hem Demokrat siyasetçilerin de tercihleri Keynesyen politikalardı. Böyle bir atmosferde yayınlanan Kapitalizm ve Özgürlük’te Friedman, devlet müdahalesinin niyet edilmemiş kötü sonuçlarına dikkat çekti. Rekabetçi kapitalizmin teorik ve pratik üstünlüklerini açık ve kuvvetli bir şekilde izah etti. Friedman, bu kitapta, ekonomik özgürlükler ile siyasî özgürlükler arasındaki bağıntıyı net bir şekilde ortaya koymuştur. Friedman’ın iktisat felsefesinde merkezî bir tema olan rekabetçi kapitalizm, hem iktisadî özgürlüğe ulaşmak için bir araç hem de siyasî özgürlük için gerekli bir koşuldur. Güncelliğini o zamandan bu yana dünyanın pek çok yerinde koruyan önemli pratik konulara rekabetçi kapitalizm perspektifinden yaklaşımlar sunan Friedman, devletin, duhul ettiği alanlardaki olumsuz etkilerini araştırmış ve bunlara çözüm önerileri getirmiştir. Devlet müdahalesinin etkilerinin yoğun bir şekilde hissedildiği uluslararası ticaret, malî politika, eğitim sistemi, ayrımcılık, tekeller, ruhsatlandırma, gelir dağılımı, sosyal refah politikaları ve yoksulluk gibi konular bu kitabın odaklandığı alanlardandır. Kapitalizm ve Özgürlük, 20. Yüzyıl’ın en etkili ve etkileyici kitaplarından birisi olarak gösterilmektedir. İlk edisyonundan sonra birkaç kez revize edilen kitap, onlarca dile çevrilmiş, tüm dünyada yüzbinlerce okura ulaşmıştır. Kitap, birçok ülkenin iktisat politikasını etkileyen fikirleri yaymasının yanı sıra Friedman’ın 1976 yılında Nobel İktisat Ödülü almasında etkili olmuştur.

What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? In this volume a distinguished American economist presents a new theory of the consumption function, tests it against extensive statistical J material and suggests some of its significant implications. Central to the new theory is its sharp distinction between two concepts of income, measured income, or that which is recorded for a particular period, and permanent income, a longer-period concept in terms of which consumers decide how much to spend and how much to save. Milton Friedman suggests that the total amount spent on consumption is on the average the same fraction of permanent income, regardless of the size of permanent income. The magnitude of the fraction depends on variables such as interest rate, degree of uncertainty relating to occupation, ratio of wealth to income, family size, and so on. The hypothesis is shown to be consistent with budget studies and time series data, and some of its far-reaching implications are explored in the final chapter.

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.

Pubblicato per la prima volta nel 1962, "Capitalismo e libertà" è divenuto in poco tempo un classico del pensiero liberale del Novecento. Milton Friedman, Premio Nobel per l'Economia nel 1976, in queste pagine produce un'argomentata difesa del libero mercato, come condizione indispensabile per lo sviluppo di una società libera e come strumento migliore per realizzare fini socialmente condivisi. Passando in rassegna diversi ambiti in cui lo Stato interviene per regolare la vita degli individui, poco alla volta delinea un nuovo modo di concepire il ruolo del settore pubblico. Dalle politiche commerciali al sistema finanziario internazionale, dalle politiche fiscali alla lotta contro la povertà e le discriminazioni, dall'educazione al mercato del lavoro e allo Stato sociale, Friedman suggerisce strategie innovative per ridisegnare i confini fra autonomia individuale e intervento pubblico - ancora attuali a quasi cinquant'anni dalla pubblicazione.

Et si l'on retournait aux sources de l'économie classique pour trouver des réponses à la situation économique actuelle ? Paru pour la première fois en 1962, Capitalisme et liberté est l'un des ouvrages clés de la pensée économique. Milton Friedman, père du courant monétariste et fondateur de l'école de Chicago, y défend la liberté économique comme condition nécessaire à toute liberté politique et développe sa propre vision du libéralisme. Son analyse profonde, présentée sans jargon et accessible à tous, est encore et toujours d'actualité.

Friedman and Schwartz's A Monetary History of the United States, 1867-1960, published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book 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. The chapter entitled "The Great Contraction, 1929-33" addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, The Great Contraction, 1929-1933 argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics. The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy--a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman, Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.

Milton Friedman on Economics: Selected Papers collects a variety of Friedman's papers on topics in economics that were originally published in the Journal of Political Economy. Opening with Friedman's 1977 Nobel Lecture, the volume spans nearly the whole of his career, incorporating papers from as early as 1948 and as late as 1990.

Economics is sometimes divided into two parts: positive economics and normative economics. The former deals with how the economic problem is solved, while the latter deals with how the economic problem should be solved. The effects of price or rent control on the distribution of income are problems of positive economics. The desirability of these effects on income distribution is a problem of normative economics. Within economics, the major division is between monetary theory and price theory. Monetary theory deals with the level of prices in general, with cyclical and other fluctuations in total output, total employment, and the like. Price theory deals with the allocation of resources among different uses, the price of one item relative to another. Prices do three kinds of things. They transmit information, they provide an incentive to users of resources to be guided by this information, and they provide an incentive to owners of resources to follow this information. Milton Friedman's classic book provides the theoretical underpinning for and understanding of prices. Economics is not concerned solely with economic problems. It is a social science, and is therefore concerned primarily with those economic problems whose solutions involve the cooperation and interaction of different individuals. It is concerned with problems involving a single individual only insofar as the individual's behavior has implications for or effects upon other individuals. Price Theory is concerned not with economic problems in the abstract, but with how a particular society solves its economic problems.

Milton Friedman and George J. Stigler shaped economics as we know it today - their Chicago School laid the groundwork for much of the neoclassical tradition in economic analysis. This book brings together a collection of letters from these two Noble laureates from the post-war years, containing new information about their personal and professional relationships, and also illuminating the development of ideas which are now fundamental to economic theory. The book, expertly edited by Dan and Claire Hammond, contains an introductory chapter, chronologies for Friedman and Stigler, and transcripts of sixty eight letters written from 1945 to 1957 along with enclosures.

This classic set of essays by Nobel Laureate and leading monetary theorist Milton Friedman presents a coherent view of the role of money, focusing on specific topics related to the empirical analysis of monetary phenomena and policy. The early chapters cover factors determining the real quantity of money held in a community and the welfare implications of policies that affect the quantity held. The following chapters formally restate why quantity analysis has become central to the science of economics. Friedman's presidential address to the American Economic Association, included here, provides a general summary of his views on the role of monetary policy, with an emphasis on its limitations and its possibilities. This theoretical framework is used in examining a number of empirical problems: the demand for money, the explanation of price changes in wartime periods, and the role of money in business cycles. These essays summarize some of the most important results of Friedman's extensive research over the course of his lifetime. The chapters on policy that follow survey the positions of earlier economists and deal with the importance of lags and the implications of destabilizing speculation in foreign markets. Taken as a whole, The Optimum Quantity of Money provides a comprehensive view of the body of monetary theory developed in leading centers of monetary analysis. This work is essential reading for economists and graduate students in the field. The volume will be no less important for practicing business and banking personnel as well. The new statement by Michael Bordo, a student of Friedman's and an expert in the field, provides a sense of where the field now stands in the economy and academy. Milton Friedman is a senior fellow at the Hoover Institution of Stanford University. Before that, he was Distinguished Service Professor of Economics at the University of Chicago. He has also taught at Columbia University, the University of Wisconsin, the University of Minnesota, and Cambridge University. Among his many books are Essays in Positive Economics, A Program for Monetary Stability, Capitalism and Freedom, and A Monetary History of the United States. Michael D. Bordo is professor of economics at Rutgers, The State University of New Jersey, and author, with Lars Jonung, of, among other works, Demand for Money.