WATCH: Milton Friedman Remix
Please! Can anyone stop my grandson?
He has my account password and keeps posting these vulgar "hype" videos without my consent! He's just given Milton Friedman, economist and saint, the same ghoulish treatment he gave to Thomas Sowell. I nearly spit my coffee all over Gladys' copy of Newsweek when I saw it!
Could the I.T. Supervisor of this internet publication please put a stop to this? I have written several times (in electronic form) but received no reply. Also, please change my password from "pineapple36" to "pineapple37". Those are the birth years for myself and Gladys - that way I can remember. If you need our exact birthdates, they are 5/9/36 and 8/12/37 respectively. Let me know if you require any other personal information.
Again, I haven't learned how to remove this obscene hogwash yet, so you'll have to watch and evaluate its educational merit for yourselves. Commentary below.
Milton Friedman is perhaps the foremost economist of the past century. Along with George Stigler, he pioneered what became known as the "Chicago school of economics" - a radical departure from the prevailing Keynesian view of the time, in which modern economies depend upon continual government intervention to operate smoothly.
His foundational argument was that, in the majority of instances, government intervention disrupts natural market forces, which in turn produces perverse incentives and undesirable outcomes. His work in the more technical field of monetary policy is beyond my ken to describe, but it is widely lauded as superb.
Dr Friedman is perhaps best remembered for his prominence as a public intellectual during the 1970's and 80's, becoming something of a darling on the many public policy shows of the time. He served as an advisor to both President Reagan and Prime Minister Thatcher, as well as other governments around the world, most notably that of Chile, then under the dictatorship of Augusto Pinochet. For this, he received much criticism, but was nevertheless awarded the Nobel Prize in 1976 for his work across a wide range of economic questions.
For those interested in learning more about this brilliant (and handsome) man, please consider reading his quintessential book: Capitalism and Freedom. I found it to be an eminently readable and interesting window into his view of the world.