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Ready to learn the most important takeaways from Capitalism and Freedom in less than two minutes? Keep reading!
Why This Book Matters:
Capitalism and Freedom is an ongoing discussion about economic and political liberty.
The Big Takeaways:
- Economic and political liberty function on small government.
- If Free markets can thrive when the government limits itself.
- An increase in government expenditure does not necessarily generate economic development.
- The Great Depression saw that people saved their money instead of spending it when the government decided to increase spending.
- The government should limit the position they play in monetary policy.
- Increasing the supply of money should be set to a fixed total each year.
- The government should play a small role in education.
- In an ideal situation, schools would receive funding based on the number of students they have instead of property taxes.
- Inept welfare plans should be substituted for a negative income tax.
- Individuals can protect their individual freedom if they are able to choose what they spend their excess income on.