Inflation Vs Deflation Essay

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Government, Friedman made clear, is the biggest source of instability in the economy.

While champions of liberty have generally done well to achieve significant impact on a single area of public policy, Friedman has had an impact on many public policies.

His ability to think very fast and to conduct himself with complete propriety in the heat of debate makes him an extremely formidable debater in person as well as on paper.

He is a marvelous empirical worker, prepared to isolate what he believes are the essential elements of a problem, and to bring the analysis to bear most ingeniously upon empirical data.

He inspired the movement for educational choice via tuition vouchers which would enable poor people to opt out of government schools.

He courageously spoke out against drug prohibition.He helped fight President Clinton’s effort to seize an eighth of the U. economy via the scheme for government-run health care.Friedman is proudest of helping to end military conscription in the United States.She grew up in a home without electricity or running water.Her father, a grain miller, had sisters and cousins who had emigrated to America, and he traveled there to establish himself.He was past 80 when he enjoyed skateboarding with his grandson Patri.As wrote when the magazine published an interview with him, “It is testimony to Milton Friedman’s tireless, good-natured efforts and the vigor of his arguments that economic ideas once regarded as hopelessly out of date are now being seriously discussed again.” The gushed that “In economics, he is certainly the most irrepressible, outspoken, audacious, provocative and inventive thinker in the United States — and even at 5 foot 3, he may stand taller than all his colleagues in the profession.”Friedman’s friend and colleague George Stigler reflected, “He has an extraordinarily lucid mind.He helped usher in the era of free foreign exchange markets.He campaigned for ballot initiatives to limit government spending and taxes.” Without all the laws from that era, it was feared, there would again be high unemployment, chronic monopolies and gross inequality.Nobel Laureate Milton Friedman did more than anyone else to change thinking on these issues.


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