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The Tyranny of the Status Quo, by Milton Friedman, Rose Friedman
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Free to Choose was an international best-seller in 1980. Its forceful message influenced a number of world leaders -- among them Ronald Reagan and Margaret Thatcher. The Friedmans explained how free markets enable people to make the best use of their talents. In Tyranny of the Status Quo Milton and Rose Friedman describe a remarkable political phenomenon: the uniform tendency in government to reverse the declared policies of leaders whether left or right. In the first six to nine months following their election Reagan, Thatcher, and Mitterand, too, initiated big changes. Soon each was frustrated by the "Iron Triangle" which preserves the status quo. In the triangle's corners are the direct beneficiaries of laws, the bureaucrats who thrive on them, the politicians who seek votes. Would Ronald Reagan be reelected? In successive chapters the Friedmans considered the public perception of Reagan's progress or lack of it, in respect of government spending and deficits, taxation, defense, inflation, unemployment, domestic security, and education. Margaret Thatcher won another six to nine months. Would Reagan also have a second chance? This is an important book for all Americans, left, middle, right. The Friedmans stress that there are only two ways that the general interests -- as opposed to the parochial special interests that dominate the Iron Triangle -- can be effective. One is by actions of the President and Vice-President, who are the only officials elected by all voters; the second is through Constitutional Amendments. Once again, the Friedmans document the many ways that interfering with the free market reduces the opportunities of all the people.
- Sales Rank: #243588 in Books
- Brand: Houghton Mifflin Harcourt
- Published on: 1984-02-27
- Released on: 1984-02-27
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 8.00" h x .0" w x 5.31" l,
- Binding: Hardcover
- 192 pages
- Great product!
Most helpful customer reviews
15 of 16 people found the following review helpful.
A must read and it's even better after all these years
By Robert Kirk
Alright, with a book this old there is a certain amount of historical value going back to the early 80's. It's an interesting read as just a history book but it gets much better than that. If someone made you read this book and didn't tell you what year it was published you would think it was new. Mr. Friedman is spot on with his economic soothsaying and this is a book you must read now!!! The example of Chrysler and it's bankrupcy is a complete parallel with today's banking crises and GM. A wise man, a short book (160 pgs) and you won't regret it.
6 of 7 people found the following review helpful.
ANOTHER "POPULAR" BOOK BY THE FRIEDMANS
By Steven H Propp
Milton Friedman (1912-2006) was an American economist who taught at the University of Chicago (and was the leader of the "Chicago school"); he received the Nobel Prize in Economics in 1976, and wrote/cowrote books such as A Monetary History of the United States, 1867-1960, Money Mischief: Episodes in Monetary History, Free to Choose, Bright Promises, Dismal Performance: An Economist's Protest, Capitalism & Freedom: A Leading Economist's View of the Proper Role of Competitive Capitalism, etc.
In this 1985 book, Friedman and his wife Rose cover topics such as The Reagan Record (note that Friedman was a member of Reagan's Economic Policy Advisory Board in 1981); Government Spending, Taxes, and Deficits; Defense; Inflation; Crime; Education, etc.
He begins by conceding, "President Reagan's experience conforms to a political generalization... a new administration has some six to nine months in which to achieve major changes; if it does not seize the opportunity to act decisively during that period, it will not have another such opportunity. Further changes come slowly or not at all." (Pg. 3) He adds that "his proposals were not bold enough... He would not have succeeded in getting all he asked for---but he would have gotten much more than he did." (Pg. 9)
He observed that "The Soviet Union is the immediate danger perceived by Americans. Yet it is not the real threat to our national security. The real threat is the welfare state." (Pg. 73)
He called President Nixon's 1971 decision to impose wage-and-price controls "the worst mistake that any modern Republican administration has made to date." (Pg. 94)
He rejects the argument in favor of tariffs with nations such as Japan on the analogy that by subsidizing industries such as steel we 'hurt ourselves," and "simply shoot another hole in our common boat." (Pg. 128)
He firmly supports making available---"by government means, if necessary"---student loans, but asserts that "There is no case that we can see for providing subsidies." (Pg. 161)
Not one of their more "epochal" books, this book will still be of interest to students of Friedman.
8 of 10 people found the following review helpful.
Great Book
By Tim Childers
More relevant now than when it was written. Buy this book, or remain ignorant.
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