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  1. #1

  2. #2
    Thailand Expat
    Join Date
    Feb 2006
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    40,667
    Heck Barb, I'm sure he makes some good points but all them one hour series are a bit much for me.

    Friedman has a bit of a credibility gap these days because he was one of the champions of Monetarist economics, which on it's own isn't necessarily bad- but it led to an irresponsible deregulatory zeal based on the assumed self regulating 'power of the market', and thus contributed in a big way to the subsequent financial crisis. The other big contributing factor, loose monetary policy, is not advocated by Monetarists- but it is them that still presided over the Feds disastrous policy.

    I think maybe the lesson is, when Politicians get into bed with a particular school of economic theory, watch out.

  3. #3
    I'm in Jail

    Join Date
    Apr 2007
    Last Online
    22-11-2011 @ 08:27 AM
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    Christian Country
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    15,017
    Ah, I always loved this Miltie quote:

    If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand.

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