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A plain-language overview of how capitalism and socialism differ, starting from a single question: who decides? Covers control, voluntary versus mandatory participation, and a real-world example most people already use.

After World War II, one nation was split into a market economy in the west and a centrally planned economy in the east. Same people, same history, same language, but within a generation the results were impossible to miss.

A small territory with few natural resources adopted a light-touch, market-based economy and became one of the wealthiest places on earth, while the centrally planned mainland stayed poor until it began adopting market reforms.

Divided from a single nation in the mid-twentieth century, the market-based south became a wealthy, globally connected economy while the command-economy north fell into isolation and recurring hardship.

Friedman explains how markets and voluntary exchange organize activity and enable people to improve their lives. He also explains the price system.

Each episode of the original 1980 Free To Choose has been revised into a timeless, 2 minute video to introduce citizens to the phylosophy and the ideas of Milton Friedman

A guided contrast between capitalism and socialism, built around one question: who decides? It starts with the basic definitions, shows the same idea play out in a program most people already use, and ends with real countries that ran the experiment for us.

Learn how economists reason, then follow the roles of specialization, trade, prices, profit, and institutions in a market economy.

Twentieth-century American economist and public explainer who turned free-market ideas into plain language and tied economic freedom to political freedom.