Freedom Democracy and Economic Welfare
In 1962 Milton Friedman, with Rose Friedman, published Capitalism and Freedom . This book contained the conjecture that there was a fundamental relationship between political freedom and the reliance on markets for the conduct of economic activity. Without economic freedom, political freedom would decline. This book presents the papers the papers and discussion of a symposium held to consider those relationships. The symposium was co-chaired by Milton Friedman, Rose Friedman and Michael Walker. The participants from seven countries are among the most distinguished in their profession and their collected wisdom on the subject is a unique source for those concerned about the future relationships between democratic political institutions and world economic development.