The Cato Institute is now seeking nominations for the Milton Friedman prize for advancing liberty (see below for their announcement which I am delighted to publicize in this manner). I have no objection to this organization offering a prize to the person who, in the opinion of the judges, best exemplifies Professor Friedman’s contribution to libertarianism and thereby “has made a significant contribution to advance human freedom.” Indeed, I applaud their efforts in this regard. I categorize Milton Friedman as a libertarian. By definition, all libertarians, at least on net balance, must be now promoting, or have promoted, liberty. Otherwise, they would not, should not, be considered libertarians.

Here is the way I see the libertarian score card.

1. Anarcho-capitalism. This is earmarked by strict adherence to the non-aggression principle (NAP) and property rights, based on homesteading. All government is rejected as illicit, since it necessarily violates the NAP (for Defending the Undefend... Walter Block Best Price: $1.99 Buy New $10.80 (as of 07:55 UTC - Details) one thing, no one agreed to pay it taxes). The foremost exemplar of this viewpoint is Murray N. Rothbard.

2. Minarchism, or (very) limited government: Here, the state apparatus is limited to an army, courts and police. All three institutions have but one role: to protect the persons and property rights of domestic residents. The most famous adherents of this philosophy are Ayn Rand and Robert Nozick (well, at least for a while, in the latter case.)

3. Constitutionalism. These are strict constructionists of the U.S. constitution. Dr. Ron Paul is the foremost exponent of this libertarian perspective.

4. Classical liberals. They favor free enterprise and the marketplace, but accept numerous exceptions to the system of laissez faire capitalism. The highest profile examples are Milton Friedman and Friedrich Hayek.

I think the world is a far better place because of Milton Friedman’s intellectual contributions. I would rather live in a society that he supported than that of, oh, 99+% of all commentators on political economy. At the end of this essay, I will nominate a few people for this prize.

Why, then, did I entitle my comments on the awarding of this prize as a “critique?” It is because of this one statement in the Cato announcement: “The Milton Friedman Prize for Advancing Liberty (is) named in honor of perhaps the greatest champion of liberty in the 20th century.” This is nonsense. No, this is “nonsense on stilts.” In my outlining of libertarianism above, I have already mentioned four people ranked more highly that Professor Friedman in the libertarian sweepstakes. Any one of them has been a far greater “champion of liberty in the 20th century.” If I wished to do so, and was willing to bore to tears the readership of this essay, I could name, on the back of an envelope, dozens, no, scores, no, hundreds, of people who made a greater contribution to liberty than he. If there is anyone who deserves the appellation “greatest champion of liberty in the 20th century” it is of course Mr. Libertarian, Murray N. Rothbard. No. I take that back. Scratch “20^th century.” And substitute “ever.”

The Privatization of R... Block, Walter Buy New $2.99 (as of 06:15 UTC - Details) To name only a few of Milton Friedman’s deviations from pure libertarianism, he favored tax withholding, the negative income tax, the Fed, anti-trust legislation, Keynesianism, and was a bitter opponent of gold, e.g., free market money. He also exemplified Rothbard’s “Law” to the effect than non-pure libertarians specialize in areas in which they deviate most from the free enterprise philosophy. This author was “sound as a bell” on issues such as the minimum wage law, rent control, free trade, occupational licensure. But did he focus on them? Not at all. Instead, he spent most of his time and effort on two issues on which he was horrid, from a libertarian point of view: educational vouchers, and monetary policy. (For an example of a libertarian economist who, happily, did not exemplify this Rothbardian “Law,” Thomas Sowell, see here.) For a short bibliography analyzing Friedman’s numerous and serious divergences from pure libertarianism, see below.

So, who do I nominate for the Friedman prize? I am of two minds on this question of the day. Above, I characterized the person who, in justice, should win this prize in two different ways. First, my own slant on this, was on he who “best exemplifies Professor Friedman’s contribution to libertarianism.” But, second, I also quoted from the Cato announcement as he who “has made a significant contribution to advance human freedom.” Were I to base this nomination of mine on the first of these criteria, congruence with Friedman’s views, I would choose Rand Paul. He is the closest of all high profile people, who is also a libertarian (classical liberal), to the views of Milton Friedman. Like the honoree of this prize, Senator Paul is a quasi, semi, demi libertarian, and thus does promote liberty. But he also compromises with this principle all too often. Were I to base my nomination on the second of these criteria, significant contribution, Congressman Ron Paul stands head and shoulders above all other contenders. He has converted more people to the free enterprise, private property rights, limited government philosophy than any other one person, with the possible exception of Ayn Rand. I interact with many libertarians in my public speaking engagements, and I often ask, Who is responsible for your present libertarian views. Invariably comes the answer, Ron Paul.

Cato announcement:

The Milton Friedman Prize for Advancing Liberty, named in honor of perhaps the greatest champion of liberty in the 20th century, is presented every other year to an individual who has made a significant contribution to advance human freedom. The prize, a cash award of $250,000, will be presented at the Milton Friedman Prize for Advancing Liberty’s Biennial Dinner on May 25, 2016 at the Waldof Astoria New York. Details about the dinner, including a reservation form, will be posted in the near future.

Nominations for the 2016 Friedman Prize award can be made here.

The late Nobel laureate Milton Friedman agreed in 2001 to lend his name to the prize, which has become the leading international award for acknowledging contributions to the promotion of individual liberty. In a statement at the time he said: “Those of us who were fortunate enough to live and be raised in a reasonably free society tend to underestimate the importance of freedom. We tend to take it for granted. It has made us in the West more complacent, so having a prize emphasizing liberty is extremely important.” Dr. Friedman died in 2006.

Members of the public are able to make nominations online here

Members of International Selection Committee for the 2016 Prize:

For further information about the Milton Friedman Prize for Advancing Liberty’s Biennial Dinner, please contact Jenna Huhn at [email protected] or 202-218-4617.

Source: http://www.cato.org/friedman-prize

Short bibliography:

Friedman, Milton and Walter E. Block. 2006. “Fanatical, Not Reasonable: A Short Correspondence Between Walter E. Block and Milton Friedman (on Friedrich Hayek’s Road to Serfdom).” Journal of Libertarian Studies, Vol. 20, No. 3, Summer, pp. 61-80; http://www.mises.org/journals/jls/20_3/20_3_4.pdf

Rothbard, Murray N. 2002. “Milton Friedman Unraveled.” Journal of Libertarian Studies, Vol. 16, No. 4, Fall, pp. 37-54; http://www.mises.org/journals/jls/16_4/16_4_3.pdf

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