Summary on Ch. 2 "Free to Choose" book by Milton Friedman based on Controls and Freedom...

Summary on Ch. 2 "Free to Choose" book by Milton Friedman based on Controls and Freedom heading

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Free to Choose is a nonfiction book published in 1980.The 2 chapter of this book describe:

The author discussed that how some of the government policy effects the freedom of the people in the marker. A person should be free to make decision but some government involvement should be there so that the market would work systematically. For which Friedman uses the metaphor "Umpire". He denotes the government as a umpire who looks at the play of the market forces for describing demand and supply so that equilibrium price could be charged. Government being an umpire can't take the decision of the players, they need to make decisions for themselves but government remain in the middle so that there should be no injustice or unfair means with any players.

Author mentioned the importance of the freedom as it is necessary for smooth functionality of the market. But he also acknowledged the importance of the government policies for betterment of the society.

Rahul Sunny answered 2 years ago

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