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Nicholas Wapshott on Samuelson and Friedman

EconTalk

The Relationship Between Academic Work and Policy Work

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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.

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