The Age of Milton Friedman
Publication information:
Shleifer, Andrei. “The Age of Milton Friedman”. Journal of Economic Literature 47, no. 1 (2009): 123-35.
Abstract
Between 1980 and 2005, as the world embraced free market policies, living standards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and com- pare the two arguments.