[Tribune7]

Milt Friedman blames the Fed for the Great Depression. He recommends abolishing it, too.

[logician2u]

He recommends abolishing it, too.

Not exactly.

He suggests the Fed Open Market Committee could be replaced by a computer.

Dr. Friedman is a monetarist, not an Austrian. As much as I admire him for his excellent scholarship and the great gains he's made for the cause of personal liberty, he's just plain wrong on a couple of things.

Central banking is one.

[Red Jones]

Milt Friedman blames the Fed for the Great Depression. He recommends abolishing it, too.

Milton Friedman has a lot of credibility. I know he says the fed screwed up between 1930 and 1932 in allowing the money supply to decline by one third which he feels was 80-90% of the cause of that depression. But at times he has said we should keep the federal reserve. If he is today saying that we should seek an alternative, then that is real news.