Capitalism and Freedom (1962) by Milton Friedman is one of Friedman’s most popular books. It’s a punchy, crisp read that’s really worth reading for anyone interested in how the world works. I really regret not having read it earlier. I read The Communist Manifesto as 14 year old but unfortunately did not read pro-market books until much later.
Friedman’s book is not as interesting as the best of Hayek but it is easier to read and pleasantly short. The first two chapters are the weakest but it’s worth keeping going with the book. The third chapter on the money supply, the control of money and fiscal policy are prescient. The chapter on education is interesting as is the chapter on how the market will avoid racial discrimination, Friedman then talks about redistribution and his idea of a negative income tax.
Capitalism and Freedom manages to be short, interesting and profound. Friedman is one of the most influential economists of the 20th century and reading his words is very much worth the time it takes.