Product Details

• Amazon Sales Rank: #307986 in Books
• Published on: 1993-02
• Original language: English
• Binding: Paperback
• 18 pages

Customer Reviews

Excellent conjecture into Public Policy by the Old Master
Perhaps few economists have been as critical of government intervention into free market economies as Milton Friedman. In this essay on public policy, first published in 1993, he suggests that self-interest of same people when they are engaged in the private sector and government results in an administrative system which is longer controlled by "We the people". He ventures even further to suggest that the elected representatives often morph into bureaucrats themselves, adding another dimension to why the Government may be perceived as the problem.

Articulating his thoughts, Friedman splits the essay into initially demonstrating that the government is the problem and then explaining why and where those problems hit home. In doing so, he makes a number of remarks which one may or may not agree with depending on one's point of view. For instance, he states that once governments embark on a particular activity, whether it is desirable or not, people both in Government and private sector acquire a vested interest in it. So even if the initial reason disappears, there is still a strong incentive to continue regardless.

Elsewhere, he argues that the U.S. while preaching principles of free market economies and benefits of privatisation to the wider world, itself rather paradoxically and circumstantially drifts between protectionism and socialism from time to time. I enjoyed reading it immensely and would recommend it as a reference source for Friedmanites, economists, public policy analysts and economics students alike. Following the essay, this edition contains the transcript of a question and answer session with Friedman which is also quite interesting.

The arguement against government meddling by an expert.
This book studies the nature and reasons for government intervention. Friedman at first outlines the flaws in government intervention and secondly examines the cause and roots of these flaws.

Very short book. More a pamphlet really
Interesting little book to read but it really is only a few pages long. The writer firmly believes that everything that the government dabbles in is a complete waste of money ie Health and Education. He could be right in some ways but of course it would end with very patchy services and sometimes no service which is the main reason for government intervention paid for by taxes.