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Capitalism And Freedom Milton Friedman Summary

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In “Capitalism and Freedom,” Milton Friedman claims that a capitalist economy means economic freedom. But capitalism can create monopolies, which own commodities exclusively. A capitalist economic system requires a free market and the absence of government intervention in order to function. We can argue that a capitalist economic system does not necessarily mean individual or economic freedom. Instead, it promotes corruption and inequality. According to Friedman, “Economic freedom is also an indispensable means toward the achievement of political freedom,” (Friedman 1). He says that in order to have political freedom, we need to have economic freedom. In a capitalist economy people thinks that they are free to sell a commodity, but they are

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