Milton Friedman was one of the most influential leaders of the libertarian and classical liberal movement in the second half of the 20th century. A staunch advocate for applying free-market principles to government policy, he served as Professor of Economics at the University of Chicago from 1946 until his retirement in 1980.
In 1976, Friedman was awarded the Nobel Prize in Economics—during the time your columnist was an undergraduate at the university. Many of his students became known as the “Chicago Boys,” who helped introduce free-market reforms across Chile and much of Latin America. Today, President Javier Milei of Argentina stands as one of their prominent intellectual heirs.
A prolific writer, Friedman often collaborated with his wife, Rose, whom he met as a graduate student in economics at Chicago in the 1930s. Together they produced two of his most influential books:
1. Capitalism and Freedom (1962); and
2. Free to Choose: A Personal Statement (1980), which was later adapted into a popular PBS television series.
Both works championed the idea that voluntary exchange and market mechanisms could deliver public services more effectively than government mandates—including areas such as education (charter schools) and national defense.
Proposing an All-Volunteer Army
Friedman’s most impactful public policy achievement was his long campaign for an all-volunteer military. He argued that instead of conscripting young men, the government should hire willing volunteers at market wages. While the Navy, Marines, and Air Force had always relied on volunteers, the threat of being drafted into the Army often drove young men to enlist in those other branches.
Friedman maintained there was no moral or practical justification for the draft. He viewed it as inequitable, arbitrary, and deeply intrusive—interfering with young men’s freedom to shape their own lives. Economically, he believed it was ultimately more expensive than a volunteer force that paid competitive wages.
In 1971, Congress held hearings on the transition to an all-volunteer force. Friedman testified in favor. Opposing him was General William Westmoreland, former commander of U.S. forces in Vietnam (1964–1968), who had a distinguished record including combat heroism in World War II, graduation from the Army War College, and an MBA from Harvard. During a break, Westmoreland approached Friedman and asked, “How would you like to be defended by mercenaries?”
Friedman’s swift reply: “Better than being defended by slaves!”
Hellbound and Down 