This is one of the best texts on the core concepts of Economics that has ever seen the light of day. It is not easy going, so you should first master a more elementary text, like Paul Heyne's The Economic Way of Thinking, preferably in one of the early editions, or maybe even an intermediate text, like the famous Exchange And Production Theory In Use by Armen Alchian and William B. ;Allen, but whether you prepare only a little or prepare a lot, this is the frosting on the cake.

It is truly unfortunate that Professor Friedman spent most of his professional life developing the macroeconomic and monetary literature, when he was so very lucid in the more important topics of price theory and political economy. But make use of the treats that he left us, even if they are far too few. ( )