Scott Freeman on monetarism
16 Sep 2026 Leave a comment
in business cycles, econometerics, economic history, history of economic thought, labour economics, macroeconomics, Milton Friedman, monetarism, monetary economics, unemployment Tags: quantity theory of money
Money and output: correlation or causality
14 Sep 2026 Leave a comment
in applied price theory, business cycles, economic history, financial economics, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: quantity theory of money
Scott Freeman on the Phillips Curve
13 Sep 2026 Leave a comment
in applied price theory, business cycles, economics of information, history of economic thought, labour economics, labour supply, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas, unemployment
Bruce D. Smith refutes the quantity theory
12 Sep 2026 Leave a comment
in applied price theory, budget deficits, economic history, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: quantity theory of money
Some Comments on the Significance of Labor Unions for Economic Policy – Items – Collected Works of Milton Friedman
08 Sep 2026 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation, labour supply, Milton Friedman, survivor principle, unions
The actual helicopter drop?
07 Mar 2026 Leave a comment
in applied price theory, development economics, financial economics, growth disasters, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, property rights
When Milton Friedman pondered what would happen if a helicopter dropped $1,000 from the sky, he likely never imagined that one day a military cargo plane would scatter millions of dollars into one of Bolivia’s largest cities. But while the Nobel Prize-winning economist worried about the inflation that an influx of cash could generate, the impact in…
The actual helicopter drop?
Quotation of the Day…
27 Dec 2025 Leave a comment
in Adam Smith, Bill Easterly, development economics, economic history, history of economic thought, Milton Friedman
Tweet… is from page 298 of William Easterly’s brilliant 2025 book, Violent Saviors: The West’s Conquest of the Rest [footnote deleted; link added]: The Friedman’s [Milton and Rose] liked markets because they could make individual self-determination possible for all groups. Markets allowed “the freedom of individuals to pursue their own objective.” Markets made this possible…
Quotation of the Day…
The Great Means-Testing Debate
05 Dec 2025 Leave a comment
in applied price theory, history of economic thought, human capital, labour economics, labour supply, Milton Friedman, occupational choice, poverty and inequality, unemployment, welfare reform
Nine years ago, I critically analyzed the Cohen-Friedman debate on means-testing Social Security. Only recently, though, did I find the original footage from 1971. As far as I know, this is the first time that any prominent social scientist made the “A program only for the poor will always be a poor program” argument that…
The Great Means-Testing Debate
Quotation of the Day…
19 Nov 2025 Leave a comment
in applied price theory, history of economic thought, income redistribution, industrial organisation, international economics, Milton Friedman, politics - USA, Public Choice, rentseeking Tags: free trade, tariffs
Tweet… is from page 158 of Milton Friedman’s 1953 paper “The Case for Flexible Exchange Rates,” as this paper is reprinted in Friedman’s 1953 collection, Essays in Positive Economics: In brief, it [free trade] is desirable in its own right as one of the basic freedoms we cherish; it promotes the efficient use of resources…
Quotation of the Day…
An Economist’s Case for Liberty | David Friedman
07 Nov 2025 Leave a comment
in applied price theory, comparative institutional analysis, David Friedman, economics of bureaucracy, economics of information, economics of regulation, history of economic thought, income redistribution, law and economics, libertarianism, market efficiency, Milton Friedman, property rights, Public Choice, rentseeking
Milton Friedman Did Not Concoct a False Image of Adam Smith
21 Sep 2025 Leave a comment
in Adam Smith, history of economic thought, Milton Friedman
TweetHere’s a letter to the Wall Street Journal. Editor: Glory Liu argues that, in reality, Adam Smith wasn’t as favorably disposed to free markets as Milton Friedman portrayed him as being (“Adam Smith Is Known for His ‘Invisible Hand’ Theory. The Truth Is More Complex.” September 13). Her evidence for this thesis is thin. While,…
Milton Friedman Did Not Concoct a False Image of Adam Smith
💰 Inflation, Debt & The Future of the Economy | A Conversation with John Cochrane
12 Sep 2025 1 Comment
in budget deficits, business cycles, currency unions, fiscal policy, history of economic thought, inflation targeting, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: monetary policy
Quotation of the Day…
03 Aug 2025 Leave a comment
in labour economics, Milton Friedman
Tweet… is from page 246 of Milton & Rose Friedman’s great 1980 book, Free To Choose: A worker is protected from his employer by the existence of other employers for whom he can go to work. An employer is protected from exploitation by his employees by the existence of other workers whom he can hire.…
Quotation of the Day…
Milton Friedman’s Weird Abolition List
06 Jun 2025 Leave a comment
in liberalism, libertarianism, Milton Friedman
An excerpt from Chapter 5 of *Unbeatable*
Milton Friedman’s Weird Abolition List
Quotation of the Day…
25 Jan 2025 Leave a comment
in applied price theory, economics of information, industrial organisation, Milton Friedman
Tweet… is from page 224 of Milton & Rose Friedman’s great 1980 book, Free To Choose: What about the claim that consumers can be led by the nose by advertising? Our answer is that they can’t – as numerous expensive advertising fiascoes testify. One of the greatest duds of all time was the Edsel automobile,…
Quotation of the Day…
Utopia, you are standing in it! 
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