Freedman in many ways won the middle round, you could argue, of the debate between the two. When stagflation came along, which was a challenge to cansian models. Freedman said this key part of cansianism isn't working and needs revising. And it took samuelson long time to take that on board. He was reluctant to admit that the great man had been wrong aout this sort of thing. Whew! I hope i'm not intellectually alive in my nineties. Ah, let's turn to the ah, as i want to say something else about the connection between academic work and policy work.
Journalist and author Nicholas Wapshott talks about his book Samuelson Friedman with EconTalk host Russ Roberts. Milton Friedman and Paul Samuelson were two of the most influential economists of the last century. They competed for professional acclaim and had very different policy visions. The conversation includes their differences over the work of Keynes, their rivalry in their columns at Newsweek, and a discussion of their intellectual and policy legacies.