You should NEVER do any type of forced exercise (running or jogging with your pup) until he is at least 24 months of age.
If you mean free running, again, it depends on the circumstance. YES puppies can and will run themselves into an injury. Some laid back dogs may stop when they are tired but "100mph" dogs (pups that are always on the go) need a little human intervention.
You can let your dog free run around your house and yard as much as he wants providing you make sure he doesn't over do it. In terms of actual exercise you should stick roughly to the '5 minute rule' -- 5 minutes of exercise per month of age.
I agree no running with them on leash until at least 18 months preferably 24 the reason is it's hard on their joints and they are still forming until around 18 months. They can run around the yard and play with other dogs and fetch as much as they want if you notice them panting excessively you may want to intervene and stop them