A major source of objection to a free economy is precisely that it ... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
— Milton Friedman
Funny coming from Milton, who would have had the Fed, a particular group of people, print *more* money to “prevent” the Great Depression. The more I hear from him, the more I see how inconsistent he and the Chicago school are, Keynesian lite.
Yeah, Milton and Chicago school are very contradictory
My understanding is that Friedman's theory on the Great Depression was a kind of exception to his rule. He said that the Fed caused the depression in the the first place by tightening too much. Therefore, it was only fair that the Fed should intervene to fix the problem
He understood so many things so well, and explained much of economics in a way that anyone could appreciate. Very disappointing coming to the same conclusion about him as you did.
nostr:nprofile1qqsyx708d0a8d2qt3ku75avjz8vshvlx0v3q97ygpnz0tllzqegxrtgpzpmhxue69uhkummnw3ezumt0d5hsvge3uc has always been negative on Freidman. See "The #Bitcoin Standard."
