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Milton Friedman: A concise guide to the ideas and influence of the free-market economist by Eamonn Butler

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Chapter 6. The Merits of Markets

“The record of history is absolutely crystal clear, that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.”

– Milton Friedman, interview with Phil Donohue

Friedman on Markets

As well as being his generation’s most effective critic of big government, Milton Friedman was also its most tireless advocate of free-market capitalism. He had no doubt that open competition in a free market would deliver goods and services to the public far more efficiently than any government could do. Markets drove innovation and quality improvements in their products, which government did ...

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