Free to Change
Judah Bellin
A new collection shows the evolution of Milton Friedman’s thinking.
Milton Friedman understood the importance of ideas. His work on the Great Depression reshaped the scholarly consensus on monetary policy, while his writing and lectures spurred many countries to liberalize their economies.
Friedman’s example confirms his assessment that real change results from shifts in “the underlying current of opinion,” not merely from political realignment.
His own opinions evolved throughout his lengthy career. The Indispensable Milton Friedman, a new collection of essays and lectures edited by Lanny Ebenstein, provides a glimpse of that transformation. It serves as a reminder not only of Friedman’s importance, but also of the tensions between different stages of his thought.
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The Indispensable Milton Friedman: Essays on Politics and Economics, edited by Lanny Ebenstein (Regnery, 256 pp., $27.95)
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