The Age of Milton Friedman


Shleifer, Andrei. 2009. “The Age of Milton Friedman.” Journal of Economic Literature 47 (1): 123-135.
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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.


Reprinted in Chinese in Comparative Studies, Citic, 2009.

Last updated on 07/25/2012