Among other concepts, Friedman advocates ending the mandatory licensing of physicians and introducing a system of vouchers for school education.Ĭapitalism and Freedom was published nearly two decades after World War II, a time when the Great Depression was still in collective memory. The book identifies several places in which a free market can be promoted for both philosophical and practical reasons. He defines " liberal" in European Enlightenment terms, contrasting with an American usage that he believes has been corrupted since the Great Depression. It has sold more than half a million copies since 1962 and has been translated into eighteen languages.įriedman argues for economic freedom as a precondition for political freedom. Capitalism and Freedom is a book by Milton Friedman originally published in 1962 by the University of Chicago Press which discusses the role of economic capitalism in liberal society.
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