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Social Media Affects Culture

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Capitalism and Freedom was a novel written by Milton Friedman in 1962 to defend his view of the social democrats. Born in 1912 to Jewish immigrants in New York City, he attended Rutgers University, where he earned his B.A. at the age of twenty. He went on to earn his M.A. from the University of Chicago in 1933 and his Ph.D. from Columbia University in 1946.
Friedman was an American economist, statistician, and writer who taught at the University of Chicago for longer than three decades. His novel justifies the United States decisions before the Great Depression had occurred. Milton believes that governments are a means to an end, and one person should feel as if they must serve the government. Friedman makes a strong connection between political and economic freedom, in which he shows that free markets are a basis of political liberty, not a luxury.
Freidman’s Capitalism and Freedom novel sold over 400,000 copies in the first eighteen years[1] and more than half a million since 1962. It has been translated into eighteen languages. Friedman argues for economic freedom as a precondition for political freedom.
According to Microeconomics, Principles and Applications, “Capitalism is a type of economic system in which most resources are owned privately” (Hall, Lieberman G1). In what is known to be a free enterprise system, the government has a limited amount of interference and businesses are free to compete. Friedman’s thesis is that economic freedom is needed in order to have political freedom, in which we all agree on after reading this novel. One may be confused as to what economic freedom actually is, however it cannot be exactly defined. Economic freedom is provided by the government and gives a great number of options.

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