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Journal of Economic Literature: Vol. 47 No. 1 (March 2009)

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The Age of Milton Friedman

Article Citation

Shleifer, Andrei. 2009. "The Age of Milton Friedman." Journal of Economic Literature, 47(1): 123-35.

DOI: 10.1257/jel.47.1.123

Abstract

Between 1980 and 2005, as the world embraced free market policies, living standards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and compare the two arguments.

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Authors

Shleifer, Andrei (Harvard U)

JEL Classifications

O10: Economic Development: General
O40: Economic Growth and Aggregate Productivity: General
P16: Capitalist Systems: Political Economy


Journal of Economic Literature


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