This book published in 1979 by a Nobel-Prize-winning economist and his wife is still relevant (and in print) over 30 years later. The Preface tells us the book had "two parents;" Friedman's 1962 book Capitalism and Freedom where he argued free markets make for free societies, and the ten-part 1980 PBS TV series Free to Choose. (The ten episodes of the series are mirrored in the ten chapters of the book.) The book based on the series is "less abstract and more concrete." Having read the first book, I can testify to that, although there is such significant overlap I had a strong sense of déjà vu. But I also think the necessity of putting this material into documentary form helped hone and simplify their arguments. This is an extremely readable book--the New York Times Book Review called it "noteworthy for its clarity, logic, candor and unequivocating stand on political implications." The book "examines specific issues--among others, monetary and fiscal policy, the role of government in education, capitalism and discrimination, and the alleviation of poverty."
Friedman, who like Hayek, another darling of the right, considered himself a liberal, may surprise readers aware of his reputation. The suggestions on policy are thought-provoking and don't necessarily fit with what people think of as conservative orthodoxy. The Friedmans suggest vouchers as a solution for the woes of public education, "equity investment" as one alternative to high-interest student loans for higher education, an "effluent tax" as one way to deter pollution and a "negative income tax" as an alternative to welfare programs. They're thought-provoking to the end, down to their two appendices: Appendix A, the 1928 Socialist Party Platform, almost all of which has become law in America, and Appendix B, a proposal for a U.S. Constitutional Amendment to curb spending. Friedman's ideas still strike me as innovative and fresh. And whatever you might think of those ideas, it's also striking to me how well he and his wife get them across.
