Capitalism and Freedom Term Paper

Term Paper Capitalism and Freedom, written by Milton Friedman, seems to focus significantly on the connections between the economics and politics, and the effect that those have in various aspects of society. This relationship was referred to throughout the book, and the topics Friedman discusses ranged between governmental control of money, to foreign policy and trade and the effect that has on our economy. Through the course of the book, Friedman constantly refers to his “classical liberal” view, which focuses on the freedoms and power of the individual in society. Friedman shows his support of this view during the book using the idea of a laissez-faire government. For Freidman, government involvement in issues regarding society should be minimized, and the government should only really use their power to assist society when things are not going well. Friedman believes that government should only be the most basic form of overseer of the nation. The thought of the free market driving the economy strongly prevails within the book. He claims that the government should only be there to reduce the inevitable rises and falls of the economy when it is free market based. This way, the changes in the market will be able to remain less drastic. Friedman refers to the capitalist system as an unstable form of economy, and that government should be more of a support structure, rather than the basis of the economic system. He strongly believes that too much governmental influence would restrict our rights and liberties. This belief was one of his main focuses through the entire book. Friedman states in the introduction “Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power.” (Pg. 2) Friedman’s second main point was that the free market system promotes innovation and advancement by providing competition. People have motivation when they are working against someone else toward the same goal, unlike the socialist form of