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One of the young leaders of this boom, Scott Cook, founder and CEO of Intuit, heard me talk about the full privatization of the Chilean social security system at the World Economic Forum in Davos, and became convinced of the need for a similar reform in the United States. It was the beginning of the hi-tech boom in the middle of the 1990s. I recall discussing this with Milton as we rode together down Highway 101, which connects San Francisco with Silicon Valley. It also helped to change my country and the world. ("The Legacy of Milton Friedman", Manhattan Institute and Wall Street Journal Conference, January 29th 2007, University Club, New York).Īs a young student in Santiago, I read a book called "Capitalism and Freedom" by Milton Friedman. This item may be available elsewhere in EconPapers: Search for items with the same title.Milton Friedman and World Freedom, a personal note. References: View references in EconPapers View complete reference list from CitEcĬitations: View citations in EconPapers (41) Track citations by RSS feedįull text for ScienceDirect subscribers only

Keywords: Economic freedom Political freedom Hayek Milton Friedman (search for similar items in EconPapers) Finally, we examine several cases of countries on different economic and political freedom journeys. In addition, we find that these cases are diminishing over time. Using data on economic and political freedom for a sample of up to 123 nations back as far as 1970, we find relatively few instances of societies combining relatively high political freedom without relatively high levels of economic freedom. In our judgment, the Hayek-Friedman hypothesis holds up fairly well to historical scrutiny. Hayek and Milton Friedman that societies with high levels of political freedom must also have high levels of economic freedom. This paper examines empirically the hypothesis made famous by Nobel Laureates Friedrich A. Journal of Economic Behavior & Organization, 2010, vol. Examining the Hayek-Friedman hypothesis on economic and political freedom