Jennifer Burns on Milton Friedman
EconTalk
Milton Friedman: Economic Legacy and Monetary Policy
This chapter explores the lasting impact of Milton Friedman's ideas on economic theory and monetary policy, particularly regarding the Great Depression and the role of central banks. It highlights his challenge to Keynesian models during the 1970s and the importance of historical context in financial decision-making. The conversation reflects on Friedman's modesty and his contributions to understanding inflation and economic crises, emphasizing the significance of intellectual diversity in economics.
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