Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
What Went Wrong With Economics?: Milton Friedman, Alexander Meiklejon, And The Reorientation Of Freedom, Aria Mia Loberti
What Went Wrong With Economics?: Milton Friedman, Alexander Meiklejon, And The Reorientation Of Freedom, Aria Mia Loberti
Senior Honors Projects
Economics went wrong in the midst of the Cold War, specifically the time of the terror of communism in the 1950s. It went wrong in Chicago economics in particular—exacerbated by a reorientation in how to understand and conceptualize freedom. Milton Friedman’s Capitalism and Freedom trumpets the virtues of economic freedom, or the freedom of choice within the competitive market. It represents the Chicago neoliberal position. In contrast, the luminary Alexander Meiklejohn advocates a radically different conception of freedom, and his ideas echo the voices pre-1950 Chicago economics. Meiklejohn promotes political freedom over economic freedom: championing absolute protection for free speech, …