What Has Happened to Milton Friedman’s Chicago School?

Hat tip to my colleague Brendan Kennelly for this provocative paper by Brad DeLong on the “Chicago School” response to the current crisis. You can find a link to the paper here .

2 replies on “What Has Happened to Milton Friedman’s Chicago School?”

Thanks Alan and Brendan,

Brad de Long catches well the fact that, when it came to money, Milton Friedman was a “big government” man.

This brings to mind a lecture around 1969 by the late-lamented Paddy Lynch, Professor of Applied Economics in UCD, in which he expressed puzzlement at an article by Friedman that he had just read (in The Listener, of all places). An out-and-out Keynesian himself, he was shocked to find that Friedman’s views seemed to be “remarkably close” to those of his hero.

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