Capitalism And Freedom?

This essay tests Milton Friedman\u27s conjecture that capitalism is a necessary condition for political freedom. For the decade around 2000 indices of the degree of capitalism and the degree of political freedom are highly correlated and provide plausibility for Friedman\u27s conjecture. In looking at changes over time in the nineteenth century, however, the analysis refutes Friedman\u27s conjecture. These apparently contradictory results are reconciled by showing that both capitalism and freedom are related to such variables as the educational level of the population so that, although not causally tied, they are correlated in a cross-national comparison