Search results
Results from the WOW.Com Content Network
Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government. — Milton Friedman, Two Lucky People [ 110 ] This theory was put forth in A Monetary History of the United States , and the chapter on the Great Depression was then published as a stand-alone book entitled The Great Contraction, 1929 ...
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
Free to Choose: A Personal Statement is a 1980 book by economists Milton and Rose D. Friedman, accompanied by a ten-part series broadcast on public television, that advocates free market principles. It was primarily a response to an earlier landmark book and television series The Age of Uncertainty , by the noted economist John Kenneth Galbraith .
Some of Friedman's suggestions are being tested and implemented in many places, such as the flat income tax in Estonia (since 1994) and Slovakia (since 2004), a floating exchange rate which has almost fully replaced the Bretton Woods system, and national school voucher systems in Chile (since 1981) and Sweden (since 1992), [5] to cite a few ...
Therefore, free market economists such as Milton Friedman and Thomas Sowell argue that, under such a system, relationships between companies and workers are purely voluntary and mistreated workers will seek better treatment elsewhere. Thus, most companies will compete for workers on the basis of pay, benefits, and work-life balance just as they ...
Not So Free to Choose: The Political Economy of Milton Friedman and Ronald Reagan Praeger, 1987; attacks Friedman's policies from the left online version Roy, Subroto, "Milton Friedman, A Man of Reason (1912–2006)", Obituary in The Statesman newspaper Perspective Page, www.thestatesman.net, November 22, 2006, also available at http ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 March 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...
[3] Friedman's criterion of fruitfulness and usage of 'positive', however, seem to blur this point. The essay's core claim and representation were by the late 1980s widely deployed in mainstream economics , even if methodological judgments, like other regulative judgments, are not purely positive. [ 4 ]