arXiv
Open Access
2025
Milton Friedman's spending matrix revisited: 'Spending efficiency' and 'preference compatibility' across different economic systems
Ali Zeytoon-Nejad
Abstrak
This article expands Milton Friedman's spending matrix to analyse 'spending efficiency' and 'preference compatibility' across different economic systems against five key outcome criteria. By generalising Friedman's typology, it compares efficiency and freedom as systems shift from laissez-faire capitalism to communism, illustrating a gradual deterioration in their key outcomes. While government intervention is sometimes necessary to address market failures, its role should always be carefully limited to avoid inefficiency and misalignment with individual preferences. The insights may provide guidance for policymakers in designing economic systems and policies that promote both economic prosperity and personal liberty.
Topik & Kata Kunci
Penulis (1)
A
Ali Zeytoon-Nejad
Akses Cepat
Informasi Jurnal
- Tahun Terbit
- 2025
- Bahasa
- en
- Sumber Database
- arXiv
- Akses
- Open Access ✓