Friedman redefined economics’ goal from welfare maximization to freedom maximization.

Evidence

The solution Friedman envisioned to this crisis explained his emphasis on cash and market exchanges rather than in-kind transfers. As he responded in a letter to economist Earl E. Rolph (who would later become a vocal supporter of the NIT), rather than assuming the “implicit” and “unattractive” goal of “maximizing some kind of aggregate utility,” economists should replace it with “the end of maximizing effective freedom of individuals.” — Anton Jäger and Daniel Zamora Vargas, Welfare for Markets, 118

Categorization

• XREF: connects to: Friedman’s poverty floor was political, not economic, necessity. — Anton Jäger and Daniel Zamora Vargas, Welfare for Markets: A Global History…, 118; Robbins built value-free economics on the irrefutability of interpersonal utility claims. — Anton Jäger and Daniel Zamora Vargas, Welfare for Markets: A Global History…, 114; Freedom and measured welfare failure are two sides of one policy dial. — Anton Jäger and Daniel Zamora Vargas, Welfare for Markets: A Global History…, 121 (+3 more)

Broader Connections

• Friedman redefined free-market advocacy as defense of neutrality and equality #expands (0.75) — Angus Burgin, The Great Persuasion, 487
• Friedman held political freedom historically requires capitalism #expands (0.75) — Jessica Whyte, The Morals of the Market, 325