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Chief Jack's Galley

There's a place for people who laugh at nothing...

November 16th, 2006

(no subject) @ 03:19 pm


In Memoriam: Milton Friedman

Virginia Postrel says it best in the above article:

One of my heroes, Milton Friedman, has died at 94. He was a great social scientist, a brilliant popularizer and polemicist, and a mensch. His intellectual influence, on both scholarly economics and the revival of classical liberalism, can hardly be overstated. And, more than any other single person, we can thank him for ending the scourges of the 1970s: inflation and the draft.

Dr. Friedman's book, Capitalism and Freedom, remains as one of the most influential books in my life. It was he who challenged the prevailing wisdom of the time, Keynesian economics (one of whose proponents, John Kenneth Galbraith, died earlier this year), and proved the fallacy of them. I was proud that he was the leading voice of the Chicago School of economics.

My cat Milton is named for him.

Rest in peace, Dr. Friedman. The world is better for having had you.
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Date:November 16th, 2006 09:34 pm (UTC)
Thanks John. I hadn't heard.

Both Friedman and his wife had enormous influence on my thinking (not that my thinking was ever consequential to anybody). I must have read every one of their papers on monetary theory when I was at Marquette.
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Date:November 17th, 2006 12:13 am (UTC)
I wanted to go for my master's in economics from the U of C just to learn from him. I had a snowball's chance in hell of getting in, but that would have been really cool. Of course, he retired to Stanford not long after that, but still.

What amazes me is that his theories and opinions are just as timely today as they were forty years ago, where other economic texts from roughly the same period seem dated. With the new regime in Washington, it's probably just as important to read his books today as it was when they first came out.

I had forgotten that you had gone to Marquette. I had gone to Loyola at roughly the same time. You know, if we could find a couple of conservatives from Rockhurst and U of Detroit, we could just about take over LiveJournal.

Chief Jack's Galley

There's a place for people who laugh at nothing...