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Milton Friedman's spending matrix revisited: ‘Spending efficiency’ and ‘preference compatibility’ across different economic systems

Ali Zeytoon‐Nejad

Economic Affairs2025https://doi.org/10.1111/ecaf.12700article
ABDC C
Weight
0.37

What the paper says

Abstract 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.

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https://doi.org/https://doi.org/10.1111/ecaf.12700

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@article{ali2025,
  title        = {{Milton Friedman's spending matrix revisited: ‘Spending efficiency’ and ‘preference compatibility’ across different economic systems}},
  author       = {Ali Zeytoon‐Nejad},
  journal      = {Economic Affairs},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1111/ecaf.12700},
}

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Milton Friedman's spending matrix revisited: ‘Spending efficiency’ and ‘preference compatibility’ across different economic systems

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.