Milton Friedman

1912-2006

Nobel Prize winner Milton Friedman passed away yesterday at the age of 94. Most Americans have probably heard his name, but I'll wager most people have no idea of his contributions to the field of economics and laissez-faire capitalism.

Dr. Friedman literally transformed the minds of world leaders and entrepreneurs with his infectious passion for freedom and liberty through free markets. He showed the importance of the money supply, and how the Federal Reserve was the primary cause of the Great Depression. Dr. Friedman even had a hand in the elimination of the U.S. Military draft in the early 1970s.

Much of Dr. Friedman's latest efforts were his advocacy of school vouchers that can be used to pay for tuition at both private and public schools. He said, "What is needed in America is a voucher of substantial size available to all students, and free of excessive regulations." The mission statement of the Milton and Rose D. Friedman Foundation is "Promoting school choice to improve, through competition, the quality of K-12 education for all." The Friedman Foundation continues to advocate free-market alternatives to our broken public education system.

In my Humble opinion, Dr. Friedman is the finest example of a classical liberal. A classical liberal, as opposed to today's social liberal (read moonbat), is one who supports sovereignty of individuals, private property rights, and a laissez-faire economic policy. According to A Companion to Contemporary Political Philosophy:

For classical liberals, rights are of a negative nature – rights that require that other individuals (and governments) refrain from interfering with individual liberty, whereas social liberalism (also called modern liberalism) holds that individuals have a right to be provided with certain benefits or services by others.

I hold Dr. Friedman in the same regard as our Founding Fathers. His teachings are far-reaching, and his sage advice has benefitted millions around the world.

More:
Michelle Malkin's column
Dr. Friedman's 2004 article on Ronald Reagan
Free to Choose video archive of Dr. Friedman