Milton Friedman: Conservative Legacy

Alongside John Maynard Keynes, Milton Friedman was one of the most influential economists of the twentieth century. His work played a pivotal role in shaping the shift towards free markets that characterized the 1980s. Friedman's passionate defense of capitalism and freedom resonated with audiences worldwide, earning him the title of "the Age of Friedman" for the last decades of the century. Analysts have attributed both rising prosperity and social issues to his ideas.

In her comprehensive biography, historian Jennifer Burns delves into Friedman's life using archival sources, providing a nuanced perspective on his remarkable journey. She offers clear and engaging explanations of his groundbreaking research, from examining the wage gap between dentists and doctors to emphasizing the importance of controlling the money supply to combat inflation, while also discussing the limitations of government intervention and economic stimulus. Burns also explores Friedman's collaborations with female economists like Anna Schwartz and his complex relationships with influential figures such as Fed Chair Arthur Burns and Treasury Secretary George Shultz.

Above all, Burns delves into Friedman's critical role in shaping a new economic ideology and contributing to the evolution of modern American conservatism. The result is an insightful biography of America's pioneering neoliberal thinker and perhaps its last significant conservative figure.

product information: