Dr. Friedman looks at the intersection of communism and markets, with an emphasis in China. He uses his experiences advising the Chinese government, on introducing market mechanisms into their economy, and as guests of Chinese universities. He spends some time analyzing how the Chinese experience of hyperinflation in the last days of Chiang Kai-Shek influences contemporary Chinese policies. He is pessimistic about either China or Russia successfully converting to a free society.

Friedman's biography includes: Professor of economics, University of Chicago, 1946-77; recipient, Nobel Prize in economics, 1976; senior research fellow, Hoover Institution, 1977-2006.