Milton Friedman: The Last Conservative
- Downloads：5392
- Type：Epub+TxT+PDF+Mobi
- Create Date：2023-12-13 06:21:45
- Update Date：2025-09-07
- Status：finish
- Author：Jennifer Burns
- ISBN：0374601143
- Environment：PC/Android/iPhone/iPad/Kindle
- Download
Summary
The first full biography of America's most renowned economist。
Milton Friedman was， alongside John Maynard Keynes， the most influential economist of the twentieth century。 His work was instrumental in the turn toward free markets that defined the 1980s， and his full-throated defenses of capitalism and freedom resonated with audiences around the world。 It's no wonder the last decades of the twentieth century have been called "the Age of Friedman"--or that analysts have sought to hold him responsible for both the rising prosperity and the social ills of recent times。
In Milton Friedman， the first full biography to employ archival sources， the historian Jennifer Burns tells Friedman's extraordinary story with the nuance it deserves。 She provides lucid and lively context for his groundbreaking work on everything from why dentists earn less than doctors， to the vital importance of the money supply， to inflation and the limits of government planning and stimulus。 She traces Friedman's longstanding collaborations with women， including the economist Anna Schwartz， as well as his complex relationships with powerful figures such as Fed Chair Arthur Burns and Treasury Secretary George Shultz， and his direct interventions in policymaking at the highest levels。 Most of all， Burns explores Friedman's key role in creating a new economic vision and a modern American conservatism。 The result is a revelatory biography of America's first neoliberal--and perhaps its last great conservative。
Milton Friedman was， alongside John Maynard Keynes， the most influential economist of the twentieth century。 His work was instrumental in the turn toward free markets that defined the 1980s， and his full-throated defenses of capitalism and freedom resonated with audiences around the world。 It's no wonder the last decades of the twentieth century have been called "the Age of Friedman"--or that analysts have sought to hold him responsible for both the rising prosperity and the social ills of recent times。
In Milton Friedman， the first full biography to employ archival sources， the historian Jennifer Burns tells Friedman's extraordinary story with the nuance it deserves。 She provides lucid and lively context for his groundbreaking work on everything from why dentists earn less than doctors， to the vital importance of the money supply， to inflation and the limits of government planning and stimulus。 She traces Friedman's longstanding collaborations with women， including the economist Anna Schwartz， as well as his complex relationships with powerful figures such as Fed Chair Arthur Burns and Treasury Secretary George Shultz， and his direct interventions in policymaking at the highest levels。 Most of all， Burns explores Friedman's key role in creating a new economic vision and a modern American conservatism。 The result is a revelatory biography of America's first neoliberal--and perhaps its last great conservative。
Reviews
Josh
，
"It was not that Friedman was right all the time。 Yet his overall big-picture impressions were dead-on。"That sentence explains why Friedman is my favorite economist。 Burns' work in this book validates time and again that very point。While this isn't as monumental as the Caldwell/Klausinger biography on Hayek， Burns tackles a lot and can teach admirers and opponents alike various aspects of Friedman's work。 Opponents can get an even-keeled assessment of the Friedman-Chile connection。 At worst， he "It was not that Friedman was right all the time。 Yet his overall big-picture impressions were dead-on。"That sentence explains why Friedman is my favorite economist。 Burns' work in this book validates time and again that very point。While this isn't as monumental as the Caldwell/Klausinger biography on Hayek， Burns tackles a lot and can teach admirers and opponents alike various aspects of Friedman's work。 Opponents can get an even-keeled assessment of the Friedman-Chile connection。 At worst， he "failed to appreciate the optics of meeting with Pinochet。" It's these optics， especially a series of events in 1976， that allowed Friedman's opponents to avoid addressing the accuracy of his takedown of Keynesian economics and instead engage in character assassination。 Admirers like myself have to read about some unfortunate positions Friedman took during his life， such as his opposition to the Civil Rights Act。I would have liked to read a little more about the distinction between Friedman's monetarist economics versus their free market counterpart in Austrian economics， particularly the gold standard。 And I don't really agree with titling Friedman as "the last conservative。" Even if you agree that he was an old-school conservative and this point-of-view is becoming extinct within the right-wing movement， you still have a few outliers from his school of thought， notably George Will。 But considering in 1995 interviews with Rush Limbaugh and Brian Doherty he refers to himself as a libertarian， and considering his views on the legality of drugs and religion， "conservative" just doesn't fit。 The last of a libertarian strand of the Republican Party， perhaps。Overall， though， Burns has wrote an excellent book。 Friedman's scholarship was remarkable， and Burns does a very good job in explaining this scholarship in layman's terms。 Of particular note， Burns provides in-depth details of his collaboration with Anna Schwartz （who also gets her due here） that produced the game-changing A Monetary History of the United States。 Friedman's prescience in warning about the troubles the American economy would face in the 1970s is also well-told by Burns。 Highest recommendation。 。。。more
Steve
，
https://wp。me/p4dW55-1kVIn this remarkably scholarly and thoughtful biography， Jennifer Burns traces Friedman’s life from humble New Jersey roots to academia and government and， eventually， to the top of his field。 Based on nearly a decade of research and with impressive historical context and detail， this biography overpowers the other notable work on Friedman’s life: Lanny Ebenstein’s 2007 “Milton Friedman: A Biography。”Born just a dozen years after the Gilded Age， Friedman’s interest in econo https://wp。me/p4dW55-1kVIn this remarkably scholarly and thoughtful biography， Jennifer Burns traces Friedman’s life from humble New Jersey roots to academia and government and， eventually， to the top of his field。 Based on nearly a decade of research and with impressive historical context and detail， this biography overpowers the other notable work on Friedman’s life: Lanny Ebenstein’s 2007 “Milton Friedman: A Biography。”Born just a dozen years after the Gilded Age， Friedman’s interest in economics spanned nearly eight decades and was catalyzed by the most substantial economic shock of his life – the Great Depression。 A sophomore at Rutgers in 1929， his flirtation with actuarial sciences was quickly directed toward more urgent pursuits: trying to understand and model economic forces。Throughout the 482-page narrative， Burns rigorously explores Friedman’s fascination with economics as well as the evolution of prevailing economic theories and public policy during his life。 Important supporting characters such as Arthur Burns and George Shultz receive much-deserved attention as do the intellectual discussions and debates Friedman conducted with his colleagues。 And because the underlying subject matter can be abstruse， it is fortunate that Burns is skilled at explaining economic concepts in “plain English。”Particularly compelling is the book’s Epilogue which reviews Friedman’s life and legacy while also considering the Great Recession of 2007-8 and the unprecedented fiscal policy measures which were enacted to stabilize the US economy。 Friedman died in 2006 so his reaction to the financial crisis can only be the subject of speculation。 But the dramatic economic and fiscal events of the ensuing decade have called into question some of his most strongly-held beliefs。Readers will quickly discover this is not a traditional biography with dramatic storytelling and a healthy mix of Friedman’s personal and professional lives。 Instead， it is an intellectual biography designed to explore and articulate Friedman’s economic philosophy and career within the broader context of his era。 And from that perspective the book is an absolute success。But there is no escaping the fact that many readers will find this biography difficult to navigate and impossible to enjoy。 While any attentive reader can follow the plot and understand most of the content， much of the narrative feels like inside baseball – so focused on an esoteric field of study that the life of the subject is overwhelmed。In addition， almost none of Friedman’s personal life is revealed。 His wife was also a trained economist – and a frequent collaborator – so dinner conversation may have never veered far from topics such as price theory and Keynesian economic models。 But his personal interests （to the extent he had any） are never revealed and his children are almost unmentioned。Overall， Jennifer Burns’s biography of Milton Friedman is a meritorious book with a distinctly narrow natural audience。 Anyone fascinated by Friedman’s public life and legacy， or by the evolution of economic theory during the 20th century， will find this book uncommonly revealing and well-written。 But readers uninterested in the intricacies of macroeconomics and monetary policy are likely to find it unavoidably tedious and dull。Overall rating: 3½ stars 。。。more
Murray Sondergard
，
Fabulous book。 Aptly summarizes the life and contributions of this extraordinary man。 One of the best books of 2023。
Rick Burcik
，
This is a biography of Milton Friedman AND an economic history of America during the 20th century。 Plus， it is perhaps the most delightful book that I have read in years。 Its author Jennifer Burns has through her remarkable scholarship written a wonderful book that everyone with any interest in economics simply must read。 My only negative comment is quite minor。 Two times Ms。 Burns errantly reported that tax cuts have reduced government revenue， but every tax cut in US history has resulted in on This is a biography of Milton Friedman AND an economic history of America during the 20th century。 Plus， it is perhaps the most delightful book that I have read in years。 Its author Jennifer Burns has through her remarkable scholarship written a wonderful book that everyone with any interest in economics simply must read。 My only negative comment is quite minor。 Two times Ms。 Burns errantly reported that tax cuts have reduced government revenue， but every tax cut in US history has resulted in only an increase in government tax receipts。 Otherwise， her book is both perfect and fun to read。 。。。more
Jim Epstein
，