How I miss him. Even when he was around, Friedman’s insights were not disseminated enough, except during the Reagan era when we actually had a POTUS who was wise enough to surround himself and listen to wise people, often from outside of government.
I am so glad my college economics professor taught Friedman. ‘Capitalism and Freedom’ was one of the course textbooks. He mocked Keynes.
I have said this before, and I doubt that I was the first to say this, but you cannot understand freedom, if you don’t understand Friedman.
I always like to remind them (and anyone else who seems lacking understanding in this area) that nearly everything around us was created at someone else's expense. Although a particular item may be provided at no cost to the end user, there is still a cost associated with it, and that price was paid by someone. It's a lesson that, especially/even with the implementation of ObamaCare, far too few Americans seemed to have grasped.
Thank you for such a terrific post. He had such a gift for explaining complex economics with an elegant simplicity.