In this chapter of the podcast, the speakers discuss the legacy and impact of Milton Friedman. They touch on his free market beliefs, his influence on various political ideologies, and his academic work in fields beyond economics. They also address the criticism he receives in current policy debates and the different narratives surrounding the financial crisis.
Who was Milton Friedman? Jennifer Burns of Stanford University finds in her biography of Friedman that the answer to that question is more complicated than she thought. Listen as she and EconTalk's Russ Roberts discuss how the now-forgotten Henry Simons shaped Friedman's thought, the degree to which Friedman had a deep understanding and belief in the role of prices in a modern economy, and the influence of key women on Friedman's intellectual life. Finally, they explore whether or not Friedman's insights continue to affect public policy and the discipline of economics.