There's No Such Thing as a Free Lunch
Johnson, M. Bruce
Book Review/M. Bruce Johnson Guess Who's Coming to Lunch? As the growing politicization of economic decisions produces economic consequences that leave more and more Americans confused and angry,...
...The Playboy selection, a delight and a true classic, is particularly illuminating because the...
...You have competition among towns for the provision of services...
...Readers will find the essays lively and of convenient length for easy reference...
...Second, to present an evaluation of current policies in light of a fervent belief that the promotion of individual freedom should be the prime objective of social arrangements...
...Although the material is nontec nical, the applications of economic anal sis to concrete situations are rarely obi ous...
...Or are the results we s( caused by federal regulations and contra But I exaggerate my complaint 1 dwelling on a single issue...
...Is this a conclusion that follows from either positive economic analysis or a concern for promoting individual freedom...
...local goernments do use such tactics and may pi the matter to a vote of the "people" that everyone can decide how you rm use your land...
...What is the nature of my complaint...
...This collecti( of essays deserves wide circulation at study...
...they will also find a place or two to quarrel...
...On the whole, the formal restrictions on governmental activity should be the most severe at the federal level, less so at the State level and least of all at the local level...
...Doesn't local government oppress the average citizen as much as central government...
...rade permits., antiloitering ordinances and prohibit certain activities (gambling prostitution, massage parlors, liquor, an smoking ordinances...
...When the Playboy interviewer asks if it is "right" that some communities "are tryThere's No Such Thing as a Free Lunch by Milton Friedman Open Court $9.95, $3.95 paper ing to keep out subdivisions, industry, nuclear power plants and so on," Friedman responds, "Of course," and proceeds to argue that competition among small units of government will provide diversity, pluralism, and multiplicity of choice: "If you don't like what one town does and can't change it, you move to another town...
...The key word in the preceding sentence is "analysis...
...Between the interview and the other essays, the coverage of topics is comprehensive...
...26 The Alternative: An American Spectator March 19...
...Milton Friedman, invariably articulate and provocative, has released a new volume of topical essays taken from his recent Newsweek columns, An Economist's Protest, and a variety of other sources, among them a 1973 Playboy interview...
...The Friedman volun requires an attentive, patient, and op mind if it is to be appreciated as the firf rate work it is...
...Economics is a serious subject with a hard core- of sophisticated analysis that is widely accepted by professional economists of every political persuasion . " Following that preamble, Friedman states his goals for the volume: "First, to offer persuasive evidence that there is a valuable body of positive economic analysis that can yield reliable results when applied to specific problems and that, has important implications for both the consequences and the desirability of public policies...
...No reason why you shouldn't...
...As the growing politicization of economic decisions produces economic consequences that leave more and more Americans confused and angry, it is encouraging to find academic economists addressing their remarks to the general public as well as to the professional fraternity...
...Congress is not like to legislate a restriction on your proper: rights in a particular parcel so that nod ing can be done with your land...
...Hesucceeds brilliantly, although at times it requires skill and alertness to separate the positive economics from the stipulated concern for individual freedom...
...interview format allows Friedman to respond immediately to the loaded questions that free-market advocates have all been asked in one context or another—questions perhaps many wished they had been better prepared to answer...
...Local government can, and does, strip you of your access to labor markets (business licenses and taxes), abridge your property rights and reduce your wealth (rezoning, down-zoning of density, building codes, use permits, no-growth ordinances), force you to suppo: governmental monopolies (public util ties, public schools), infringe on yot rights of assembly and association (p...
...Local laws can E and frequently are tailored to exproprial or harass particular individuals or minor ties...
...The federal government's large an heavy foot steps on so many individuals one time that the federal burden on a pa ticular citizen (as opposed to a class) nu-be light in comparison with the burden local government...
...Unfortunately, we do not have mo, than a provisional economic theory government—either federal, state, local—and so neither Friedman's inte pretation nor mine can be measurc against the standards of positive econor ics...
...Yet, one wonders—if the resident of major city neither likes nor can chant zoning, must he move to Houston, tl only major American city without zoning Is the ubiquity of zoning and the lack diversity and choice in cities the result market forces...
...Friedman skillfully applies economic analysis to dozens of issues as varied as corporate social responsibility, inflation, minimum-wage legislation, public welfare, government regulation, tax shelters, civil liberties, and oil cartels...
...hence, the book will appeal primari to thinking people...
Vol. 9 • March 1976 • No. 6
