Milton Friedman (1912-2006) was an American economist who taught at the University of Chicago (and was the leader of the "Chicago school"); he received the Nobel Prize in Economics in 1976, and wrote/cowrote books such as A Monetary History of the United States, 1867-1960, Money Mischief: Episodes in Monetary History, Free to Choose, Bright Promises, Dismal Performance: An Economist's Protest, Capitalism & Freedom: A Leading Economist's View of the Proper Role of Competitive Capitalism, etc.
In this 1985 book, Friedman and his wife Rose cover topics such as The Reagan Record (note that Friedman was a member of Reagan's Economic Policy Advisory Board in 1981); Government Spending, Taxes, and Deficits; Defense; Inflation; Crime; Education, etc.
He begins by conceding, "President Reagan's experience conforms to a political generalization... a new administration has some six to nine months in which to achieve major changes; if it does not seize the opportunity to act decisively during that period, it will not have another such opportunity. Further changes come slowly or not at all." (Pg. 3) He adds that "his proposals were not bold enough... He would not have succeeded in getting all he asked for---but he would have gotten much more than he did." (Pg. 9)
He observed that "The Soviet Union is the immediate danger perceived by Americans. Yet it is not the real threat to our national security. The real threat is the welfare state." (Pg. 73)
He called President Nixon's 1971 decision to impose wage-and-price controls "the worst mistake that any modern Republican administration has made to date." (Pg. 94)
He rejects the argument in favor of tariffs with nations such as Japan on the analogy that by subsidizing industries such as steel we 'hurt ourselves," and "simply shoot another hole in our common boat." (Pg. 128)
He firmly supports making available---"by government means, if necessary"---student loans, but asserts that "There is no case that we can see for providing subsidies." (Pg. 161)
Not one of their more "epochal" books, this book will still be of interest to students of Friedman.