Interpretation of Adam Smith’s Theory, Interpretation of the Milton Friedman’s Theory and Interpretation of Friedrich Hayek’s Theory constitute the liberal economist series. They introduce the sketch of the economists’ theories, main points of their works, and the links with the actual economic conditions.They provide readers with easy introduction to the economic theory.Milton Friedman was a famous Nobel economist in the United States. He advocated laissez-faire economics, which has global influence.From the Free Market Policy in China to the flat tax in Eastern Europe, from the dispute over drugs to monetary policy, Friedman has produced tremendous impact on traditional economics with his vivid debate skills.The book discusses in a concise and succinct way the viewpoints of Friedman in democracy, equality, global trade, education, public services, and financial crisis.You will learn from the book:* Friedman’s criticism on Keynes’s intervention in the economy* The real cause of the "Great Depression" in his opinion* The real reason for the devaluation of the currency in his eyes and how to stop currency devaluation* Why did he think that the tightening measures and the minimum wage law will increase poverty?
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