Heterodox
The Spectator, 13 January 2024 Monetarism, with which his name is associated, has long defined economic policy. But what would Friedman have made of the banking collapse, so soon after his death in 2006? The Keynesian economist Nicholas Kaldor called Milton Friedman one of the two most evil men of the 20th century. (Friedman was in distinguished company.) The ‘scourge’ he inflicted on the world was monetarism, a product of what Kaldor called Friedman’s Big Lie – of which more later....
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