Kategorien entdecken

Das sind die Blinks zu

Free to Choose

The Classic Inquiry Into the Relationship Between Freedom and Economics

Von Milton Friedman
15 Minuten
Free to Choose: The Classic Inquiry Into the Relationship Between Freedom and Economics von Milton Friedman

Free to Choose (1980) explores the relationship between freedom and the choices an individual is allowed to make in regards to the economy. Friedman reveals to us that economic freedom is an essential part of liberty. He details the myriad ways in which government regulations and interventions chip away at our fundamental right to make decisions in our own self-interest.

  • Anyone wanting to learn about the government’s role in the economy
  • Anyone interested in exploring the benefits of economic freedom
  • Anyone interested in learning more about how free markets work 

Milton Friedman won the Nobel Prize for economics in 1976. He holds a PhD from Columbia University and was an economic advisor to Ronald Reagan in the 1980s. He has written over 11 books about economics and individual freedom.

Kennst du schon Blinkist Premium?

Mit Blinkist Premium erhältst du Zugang zu dem Wichtigsten aus mehr als 3.000 Sachbuch-Bestsellern. Das Probeabo ist 100% kostenlos.

Premium kostenlos testen

Was ist Blinkist?

Blinkist ist eine App, die die großen Ideen der besten Sachbücher in einprägsame Kurztexte verpackt und erklärt. Die Inhalte der über 3.000 Titel starken Bibliothek reichen von Sachbuch-Klassikern, über populäre Ratgeber bis hin zu diskutierten Neuerscheinungen. Basierend auf wissenschaftlichen Erkenntnissen wird jeder Titel von speziell geschulten Autoren aufbereitet und dem Nutzer als Kurztext und Audiotitel zur Verfügung gestellt.

Discover
3.000+ top
nonfiction titles

Get unlimited access to the most important ideas in business, investing, marketing, psychology, politics, and more. Stay ahead of the curve with recommended reading lists curated by experts.

Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:

Free to Choose

The Classic Inquiry Into the Relationship Between Freedom and Economics

Von Milton Friedman
  • Lesedauer: 15 Minuten
  • 10 Kernaussagen
Jetzt kostenloses Probeabo starten Jetzt lesen oder anhören
Free to Choose: The Classic Inquiry Into the Relationship Between Freedom and Economics von Milton Friedman
Worum geht's

Free to Choose (1980) explores the relationship between freedom and the choices an individual is allowed to make in regards to the economy. Friedman reveals to us that economic freedom is an essential part of liberty. He details the myriad ways in which government regulations and interventions chip away at our fundamental right to make decisions in our own self-interest.

Kernaussage 1 von 10

The power of the market lies in voluntary actions by individuals, not in government intervention.

Today, many people believe that governments should determine the price or supply of goods in the market.

However, this is wrong; in reality, government intervention creates confusion in the functioning of the market.

This is because when the government intervenes in the market, it distorts the signals that tell consumers the true value of a good or service.

For example, during gasoline shortages in the 1970s, the government limited the price that gas stations could charge to keep gas affordable. The direct result of this was a flood of people buying gas at the same time, leading to increased demand and further shortages. Because the price did not rise naturally in response to the shortage, as it would have done in a free market, consumers did not choose to conserve or find alternatives to gasoline.

Government action therefore exacerbated the crisis.

Without the proper price transmitting information to consumers, they are unable to know how to spend their money in the most efficient ways.

So although it might seem strange, the best way to ensure that the market works effectively is to leave it alone. This way, the market is left to individuals voluntarily pursuing their own self-interests. Only by making individual consumers the main actors in the market will the proper value of goods and services, based on their demand and supply, be transmitted.

One of the most well-known examples of such voluntary action actually comes from outside the economic market: the development of language. This developed from the bottom up with no central control. People cooperated with each other because it was in the interest of the individual as well as the group to share and create common communication.

When people freely traded words, it benefited both parties – no control or planning by a central authority was needed.

Mit Premium freischalten Jetzt lesen oder anhören

Inhalt

Mit Premium freischalten Jetzt lesen oder anhören

Bringe mehr Wissen in deinen Alltag!

Sichere dir jetzt Zugang zu den Kernaussagen der besten Sachbücher – praktisch in Text & Audio in nur 15 Minuten pro Titel.
Created with Sketch.