Monday, January 29, 2007

It's Milton Friedman Day

When all is said and done, there are only two economists you need to know about, Adam Smith and Milton Friedman. In 1776, the year of America's Declaration of Independence, Smith published the Wealth of Nation which defined economics (and capitalism) as serious subjects of study. In 1976, Milton Friedman received the Nobel Prize for his economic work on capitalism.
Friedman was a serious scholar and a wonderful teacher whose book and PBS Series "Free to Choose", showcased his ideas. I read that book in college and it was life changing. In the face of 1970's pessimism spread by disillusioned baby boomers, Marxism spouting teachers, this old guy talked about the power individuals had through choice. Thankfully, many people listened to Milton and capitalism helped spread freedom. (I need to re-read that book, I'm finding myself a little disillusioned these days.)

Today has been declared Milton Friedman Day, there should be many good articles to read. To get you started please read Ben Stein's article from November -- he knew the man well.

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