If Friedman were to rewrite his book today, how do you think he would revise his core arguments?

Hey, this is a fascinating question because it ties together two "Friedmans" from different eras and fields. The tags include The World Is Flat (by Thomas Friedman) as well as "monetarism" and "economic theory" (generally referring to the economics titan Milton Friedman).

Their viewpoints differ greatly, so I suspect you might be asking about one of them—or perhaps both. No problem—both interpretations are interesting. I'll share my thoughts separately.

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Scenario One: If referring to Thomas Friedman, author of The World Is Flat

Thomas Friedman’s core argument, simply put, is that "technology and globalization have leveled the playing field." When he wrote his book in 2005, amid the boom of the internet, outsourcing, and supply chain collaboration, he believed opportunities were becoming increasingly equal between, say, an engineer in Bangalore and one in Silicon Valley.

If rewriting the book today, he likely couldn’t sustain that optimism. He’d find the world not only failing to flatten further but actually turning "rocky, even filled with walls."

He might revise his thesis along these lines:

• From "Efficiency First" to "Safety and Resilience First"

  • Past: He’d praise companies like Apple for distributing design, production, and assembly across the world’s most efficient, lowest-cost locations.
  • Now: After pandemic supply chain disruptions and geopolitical conflicts (e.g., the Russia-Ukraine war), he’d recognize the danger of putting all eggs in one basket (or one hyper-efficient but fragile supply chain). He’d emphasize "supply chain resilience"—prioritizing secured production even at higher costs, e.g., dispersing factories from one country to multiple ("China+1" strategy).

• From "Borderless Digital World" to "Digital Iron Curtain"

  • Past: He saw the internet as the ultimate tool for flattening the world through free information flow.
  • Now: He’d observe a "Digital Berlin Wall"—China’s Great Firewall, Europe’s stringent GDPR, nations asserting "data sovereignty" to block cross-border data flows. The global internet has splintered into separate "local networks."

• From "Economic Logic Trumps All" to "Geopolitics Returns to Center Stage"

  • Past: He argued deep economic interdependence would deter conflict, as nations focused on prosperity—"The Golden Arches Theory" (no two countries with McDonald’s would go to war).
  • Now: The Russia-Ukraine war shattered this illusion. He’d concede that national security, ideology, and nationalism now often outweigh economic interests. Countries form blocs based on "values alliances," with economic ties requiring ideological alignment.

• Rethinking Flat-World Beneficiaries

  • Past: He largely emphasized gains for developing-world elites and multinational corporations.
  • Now: He’d confront globalization’s domestic fallout in developed nations: manufacturing job losses, widening inequality, resurgent populism, and anti-globalization movements (e.g., Trump’s rise). The "leveled" world crushed many.

In short: Thomas Friedman’s new book might be titled The World Is Rocky or The Walled World. He wouldn’t deny technology’s power but would acknowledge "politics and human nature are carving trenches and barriers across the world technology once flattened."

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Scenario Two: If referring to economics titan Milton Friedman

This is even more intriguing. Milton Friedman, the "godfather" of free-market economics, argued: "Governments should govern least; free-market competition drives prosperity." He also championed stable money supply (monetarism), opposing reckless money-printing for stimulus. While he died in 2006, we can speculate on his response to today’s world based on his theories.

He wouldn’t abandon his core tenets—he was fiercely principled—but he’d find new targets to validate his views.

• Fierce Criticism of "Quantitative Easing"

  • His view: Money supply should grow steadily and slowly.
  • Today’s reality: After the 2008 crisis central banks embraced quantitative easing (QE)—printing money to buy assets and flood markets with liquidity.
  • His likely response: "I warned you! Look at this mess! You created artificial prosperity with printed money, blowing asset bubbles (stocks, real estate). Now? Rampant inflation! This is government intervention failing—not the market!" High inflation would be his theory’s perfect vindication.

• An "Alternative Take" on the 2008 Financial Crisis

  • Mainstream view: The crisis stemmed from market failure, greed, and weak oversight.
  • His likely response: "Nonsense! It started with government meddling!" He’d blame U.S. government-backed entities (Fannie Mae and Freddie Mac) for pushing risky mortgages and the Fed’s pre-crisis ultra-low rates for inflating the housing bubble. Bailouts, he’d argue, worsened things by creating "moral hazard" (banks expect rescue no matter their recklessness).

• On Big Tech Monopolies

  • His theory: Champion free competition; oppose monopolies.
  • Today’s reality: Google, Amazon, Meta, etc., hold de facto monopolies.
  • His likely stance: He’d be among their harshest critics. But he wouldn’t seek complex regulations on content or operations. Instead, he’d apply classic anti-trust laws to break them up, restoring market competition. True competition, he’d argue, eliminates the need for government speech or commerce controls.

• Views on Inequality and the China Model

  • Inequality: He’d reject wealth or inheritance taxes. Instead, he’d revive his "Negative Income Tax"—direct cash payments to the poor, simpler and less market-distorting than welfare. For him, this is the best way to aid the disadvantaged.
  • The China model: He’d acknowledge China’s growth but insist its state-driven model lacks innovation’s free roots and is unsustainable long-term. He’d predict that slowing growth would expose deep social and political fissures.

In short: If resurrected, Milton Friedman would find today’s world a gallery of his "cautionary tales." But he’d stand firmer than ever. His new book would echo "I told you so," asserting his core plea: "Long live liberty, government butt out!"—while shifting fire from Keynesians to today’s Fed chairs and Big Tech CEOs.