RIP Milt Friedman

PopeDirkBenedict · Nov 16, 2006

http://money.cnn.com/2006/11/16/news/newsmakers/friedman/index.htm?cnn=yes

I wish the people who loved Friedman actually believed in fiscal discipline.

Libs may note that MF also opposed the Iraq war.

Does it disappoint Mr. Friedman that the Bush administration hasn't been able to roll back spending? "Yes," he said. "But let's go back a moment. During the 1990s, you had the combination that is best for holding down spending. A Democrat in the White House and Republicans controlling Congress. That's what produced the surpluses at the end of the Clinton era, and during the whole of that era there was a trend for spending to come down. Then the Republicans come in, and they've been in the desert, and so you have a burst of spending in the first Bush term. And he refuses to veto anything, so he doesn't exercise any real influence on cutting down spending. In 2008, you may very well get a Democratic president"--(Rose, interjecting: "God forbid!")--"and if you can keep a Republican House and Senate, you'll get back to a combination that will reduce spending."

Mr. Friedman here shifted focus. "What's really killed the Republican Party isn't spending, it's Iraq. As it happens, I was opposed to going into Iraq from the beginning. I think it was a mistake, for the simple reason that I do not believe the United States of America ought to be involved in aggression."
Click to expand...

http://www.opinionjournal.com/editorial/feature.html?id=110008690

The Big Ragu · Nov 16, 2006

RIP. He had it right. Free markets are the best, most efficient economies and afford people the best standard of living. He was a great man.

Herbert Anchovy · Nov 16, 2006

A titan among economists. He made â€œthe dismal scienceâ€ exciting.

Guy_Incognito · Nov 16, 2006

RIP, a great man. Not too many people change the world with their ideas. He did.

D-3 Fan · Nov 17, 2006

Friedman , Galbraith, and Keyes were the first things to come out of my high school economics class. My econ teacher made sure that we learned about those two guys before learning about macro and micro, and the law of diminshing returns.

They were economics' Mt. Rushmore. RIP to another econ giant with Galbraith leaving earlier this year.

cranberry · Nov 17, 2006

A little tear is trickling down my cheek ... In all seriousness, however, there hasn't been a more influential thinker on economics in my lifetime. While the political implementation of his thoeries has caused a lot of unnecessary pain and devisiveness, the thinking itself was pure.

Fenian_Bastard · Nov 17, 2006

Wonderful.
I can think of a couple hundred thousand Chileans who are happy the old bastard's dead.

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RIP Milt Friedman

PopeDirkBenedict Active Member

The Big Ragu Moderator Staff Member

Herbert Anchovy Active Member

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RIP Milt Friedman

PopeDirkBenedict Active Member

The Big Ragu Moderator Staff Member

Herbert Anchovy Active Member

Guy_Incognito Well-Known Member

D-3 Fan Well-Known Member

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Fenian_Bastard Guest

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