IDEAS home Printed from https://ideas.repec.org/a/mes/jeciss/v44y2010i2p533-542.html
   My bibliography  Save this article

Milton Friedman's Capitalism and Freedom: A Binary Economic Critique

Author

Listed:
  • Robert Ashford

Abstract

This article presents a binary economic critique of Milton Friedman's thesis that a competitive, free market, private enterprise, capitalist system is an essential condition for freedom. After identifying deficiencies in Friedman's understanding of private property and economics, this article explains how a market economy based on Friedman's flawed understanding concentrates economic power in a plutocracy, perpetuates chronic underemployment of labor and capital, and suppresses the freedom of most people. It advances a "binary economic approach" to create a more productive and democratic market system characterized by greater, more sustainable, and more widely-distributed prosperity, economic power, and individual freedom than prevails in any existing capitalist economy.

Suggested Citation

  • Robert Ashford, 2010. "Milton Friedman's Capitalism and Freedom: A Binary Economic Critique," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(2), pages 533-542.
    • Handle: RePEc:mes:jeciss:v:44:y:2010:i:2:p:533-542
    DOI: 10.2753/JEI0021-3624440226
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2753/JEI0021-3624440226
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.2753/JEI0021-3624440226?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:44:y:2010:i:2:p:533-542. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MJEI20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.