Excerpt:
Milton Friedman©
"There's no such thing as a free lunch."
Milton Friedman
"The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy."
Milton Friedman
In the 1890s, teenagers Jeno Saul Friedman and Sarah Ethel Landau left Berehovo in the Ukraine to emigrate to the United States. Jeno opened and ran a series of small businesses as a garment maker, dry goods retailer, owner of an ice cream parlor and later, a jobber and petty trader.
Sarah worked as a seamstress and, after they were married and had children, she ran a dry goods store. Given the uncertainty of Jeno's income, they both worked to support themselves and their four children. Despite the economic insecurity, it was a warm and close family.
Milton, born July 31, 1912, was the youngest of the four and the only boy. As a youngster, he was a devout Orthodox Jew. He attended Hebrew School and followed every Orthodox practice until shortly before his Bar Mitzvah, when he became an outspoken Agnostic. Nonetheless, he went through with the Bar Mitzvah for his parents' sake....