Milton Friedm An Expert On Economic Theory - 2112 Words

Although Milton Friedman might be an expert on economic theory, his libertarian views on capitalism, the role of government, and discrimination would leave victims of religious, color, and race discrimination (particularly black Americans) struggling for individual freedom and to escape poverty and isolation. In his book Capitalism and Freedom, Milton Friedman states that â€Å"there is an intimate connection between economics and politics† and that â€Å"economic freedom is also an indispensable means toward the achievement of political freedom.† Central to his thesis is that individual political and economic freedom is essential, and this freedom is achieved through limiting the scope of government involvement. Friedman’s theory regarding discrimination (using his discriminators of race, religion, color) is fundamentally flawed because he ignores the costs to society and individuals resulting from discrimination, the loss of individual freedom of the person b eing discriminated against, and he believes that government involvement is not necessary to ensure individual freedom for the victims of discrimination. Friedman states that it is an â€Å"historical fact† that the movement toward capitalism has reduced the amount of religious, racial, or social discrimination against groups of people. He provides examples of this â€Å"historical fact† by crediting economic factors as the basis for the freedoms given to serfs in the Middle Ages, the permitted existence of Jews during the Middle Ages,