Published on November 28, 2023 by Eugene Ho

Hoover Press, 1992 | 18 pages

A Brief Book Summary from Books At a Glance

by Benjamin J. Montoya, PhD


About the Author

Milton Friedman, recipient of the 1976 Nobel Memorial Prize for economic science, was a senior research fellow at the Hoover Institution from 1977 to 2006. He passed away on Nov. 16, 2006. He was also the Paul Snowden Russell Distinguished Service Professor Emeritus of Economics at the University of Chicago, where he taught from 1946 to 1976, and a member of the research staff of the National Bureau of Economic Research from 1937 to 1981.



Why do we have so many problems in the United States? The problem is amazingly simple—it is due to the government. Identifying that fact is not at all difficult. The more difficult matter is discerning why that is the case. Consider this important summary to learn more!



All societies have all kinds of problems. Perhaps the most common in the United States are the education system, lawlessness, crime, homelessness, the collapse of family values, and the crisis in medical care. These are just a few of the major problems we have. The cause of these problems is the government. That is, on the one hand, the government attempts to take measures to solve these problems, but, on the other hand, while doing so they only create more longer-lasting problems in each of these areas. 

Homelessness is a great example. The government has tried to step in to help with this system by offering various forms of government housing. The problem is that these models are unsustainable from a price standpoint, such that they do not work long-term. Rent is not something that can ever be truly fixed as prices rise year-to-year, and the model of government housing does not account for that. So, it creates this problem while trying to help. 

But why does the government create these kinds of problems? It does so for several reasons. First, while the government will start various initiatives, it will grow weary of them and then let the matter go to some interested party. Those interested parties, then, let these various projects serve their own interests instead of seeking to benefit the very people they are supposedly trying to serve. . . .

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Hoover Press, 1992 | 18 pages

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