Milton Friedman was one of the greatest economists the world has seen. He was a recipient of the 1976 Nobel Memorial Prize in Economic Sciences. As a leader of the Chicago school of economics, he profoundly influenced the research agenda of the economics profession. A survey of economists ranked Friedman as the second most popular economist of the twentieth century after John Maynard Keynes and The Economist described him as “the most influential economist of the second half of the 20th century…possibly of all of it.”
One of the best books you will ever read on economics is Free to Choose; it was also made into a ten-part television series and is just brilliant.
Free to Choose: A Personal Statement maintains that the free market works best for all members of a society, provides examples of how the free market engenders prosperity, and maintains that it can solve problems where other approaches have failed.
This is the second episode from the 10-part TV series; it compares the rise of Japan with the poor progress made by India since Independence.
I would strongly urge EVERYONE to see the entire series and read the book.
Adapted from Wikipedia.
