“There is no more effective comeuppance to the pretensions of our left-wing gurus than Young America’s Foundation”
Milton Friedman, born on July 31, 1912, in Brooklyn, New York, was a towering figure in economics, a Nobel Prize winner, an articulate champion of free markets, and a friend of Young America’s Foundation. His ideas continue to inspire countless leaders in office, scholars, and YAF students around the country.
Friedman’s longstanding relationship with YAF spanned decades, during which he captivated student audiences with his clear, compelling economic insights. He was a vocal supporter of YAF’s efforts to counter leftist bias in academia, stating, “There is no more effective comeuppance to the pretensions of our left-wing gurus than Young America’s Foundation.”
Friedman’s book, Free to Choose—which he co-authored with fellow economist and his wife, Dr. Rose Friedman—and his ideas played a pivotal role in shaping President Ronald Reagan’s economic policies during the 1980s. YAF proudly recommends this book, along with Friedman’s other works, to students and often provides copies at our programs, as they underscore the virtues of limited government and free enterprise in fostering a freer and more prosperous society. These principles were central to President Reagan’s agenda, delivering historic tax cuts and restoring individual freedom by reducing government’s reach.
Friedman held great respect for President Reagan’s pro-growth, pro-freedom policies, crediting him with revitalizing the American economy after the Carter malaise of the 1970s. In a Wall Street Journal piece titled Freedom’s Friend, Friedman wrote, “To Reagan, of course, holding down government spending was a means to an end, not an end in itself. That end was freedom, human freedom, the right of every individual to pursue his own objectives and values so long as he does not interfere with the corresponding rights of others.” Friedman added, “Few people in human history have contributed more to the achievement of human freedom than Ronald Wilson Reagan.”
On his 113th birthday, we honor Milton Friedman for his transformative contributions to economic thought, his enduring partnership with Young America’s Foundation, and his dedication to empowering future generations to champion free enterprise.
Click here to watch a short video series recorded by Friedman with YAF, in which he discusses the importance of teaching free market principles, his relationship with President Reagan, and his famous quote, which graces the walls of YAF’s National Headquarters in Reston, Virginia: “There is no such thing as a free lunch.”
