Choose Economic Freedom
Enduring Policy Lessons from the 1970s and 1980s
George P. Shultz and John B. Taylor draw from their several decades of experience at the forefront of national economic policy making to show how letting the market work on its own, without government intervention, is a recipe for success. Choose Economic Freedom reconstructs debates from the 1960s and 1970s about the use of wage and price controls as a tool of policy, showing how brilliant economists can hold diametrically opposed views about the wisdom of using government intervention to spur the economy. The words of iconic economist Milton Friedman—whose "free to choose" ethos inspired the free-market revolution of the Reagan era—along with lessons Shultz and Taylor learned from the front lines, demonstrate that tried-and-true economic policy works.