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CAPITALISM AND FREEDOM - IU

CAPITALISMANDFREEDOM CAPITALISMANDFREEDOM40thAnniversaryEditi onWitha TOJANETandDAVIDANDTHEIRCONTEMPORARIESWHO MUSTCARRYTHETORCHOFLIBERTYONITSNEXTLAPTh eUniversityofChicagoPress,Chicago60637 TheUniversityofChicagoPress,Ltd.,LondonC opyright 1962,1982, newPrefacein1982, 07062345 ISBN:0-226-26421-1(paper)ISBN:0-226-2642 0-3(cloth)LibraryofCongressCataloging-in -PublicationDataFriedman,Milton,1912-Cap italismandfreedom/MiltonFriedman; ; ( )-ISBN0-226-26421-1( ) , , '2-clc21200206753 +ContentsPREFACE,2002 VBPREFACE,1982 XlPREFACEXVINTRODUCTIONITHERELATIONBETWE ENECONOMICFREEDOMANDPOLITICALFREEDOM7 IITHEROLEOFGOVERNMENTINAFREESOCIETY22 IIITHECONTROLOFMONEY37 IVINTERNATIONALFINANCIALANDTRADEARRANGEM ENTS56 VFISCALPOLICY75 VITHEROLEOFGOVERNMENTINEDUCATION85 VIICAPITALISMANDDISCRIMINATION108 VIIIMONOPOLYANDTHESOCIALRESPONSIBILITYOF BUSINESSANDLABOR119 IXOCCUPATIONALLICENSURE137 XTHEDISTRIBUTIONOFINCOME161 XISOCIALWELFAREMEASU

10 CAPITALISM AND FREEDOM institutions. So also did political freedom in the golden age of Greece and in the early days of the Roman era. History suggests only that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition. Fas­ cist Italy and Fascist Spain, Germany at various times in the

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