Free To Choose: Mart Laar's Economic Guidebook for Estonia

An economy in ruins. The young prime minister was facing unbelievable odds. Mart Laar knew little about economics. He turned to one book: Free To Choose, the book based on the film. And the rest, as they say, is history.

Estonia implemented a flat tax rate like that recommended by Milton and Rose Friedman. Estonia become the Baltic Tiger, growing at about 10 percent per year up to 2006. 

More recently Estonia has weathered the global recession very well -- not by following the rest of Europe using monetary and fiscal Keynesianism, but by reducing government spending and balancing their budgets. They were back up to 8 percent growth in 2011.

Update: Even the left-of-center Professor Brad DeLong has his Berkeley students read Free To Choose. Why? From DeLong's obituary. (Note: Brad DeLong will appear in Free To Choose Network's "testing" of Milton Friedman due out on public television in 2012. DeLong did a fine job.)

What are you doing to celebrate Milton Friedman's Century?