Milton Friedman's Legacy Faces Fresh Assault From Across the Political Spectrum
An opinion piece argues that renewed attacks on Milton Friedman by both liberals and conservatives overlook his lasting impact on free-market thought.
Milton Friedman, the Brooklyn-born scholar who earned a Nobel Prize in 1976 and advised President Reagan and Prime Minister Thatcher, remains a polarizing figure in American politics.
Surprisingly, the critique has spread to the right, with Vice President JD Vance arguing that contemporary Republican economics resemble Alexander Hamilton more than Friedman’s laissez-faire vision. Since the start of Trump’s second term in January 2025, manufacturing jobs have fallen, real wages have stalled, and inflation hovers around 3.5 percent, prompting the author to claim that the current agenda contradicts Friedman’s emphasis on limited government and free trade. The piece concludes that without a clear intellectual heir, conservatives must adapt Friedman’s teachings to bridge the divide between populism and progressivism.
Why it matters
Understanding the debate over Friedman’s ideas helps readers gauge how economic theory influences current U.S. policy and political rhetoric.
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