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Jennifer Burns, biographer and Stanford professor, discusses the complex life and beliefs of economist Milton Friedman. They explore his understanding of prices in a modern economy, his collaborations with women economists, and the lasting impact of his ideas on public policy and economics.
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Quick takeaways
- Milton Friedman's economics were more interesting than his punditry, challenging preconceived notions about his views on the New Deal.
- Friedman's work on the Great Depression and his insights into price mechanisms and expectations have had a lasting impact on the field of economics.
Deep dives
Friedman's Surprising Discoveries about Himself and New Deal Economics
While researching on Friedman's work, historian Jennifer Burns discovered surprising things about Friedman's own biases and preconceptions, particularly regarding his interest in Friedman as a pundit. She found Friedman's economics more interesting than his punditry and realized that her preconceived notions about Friedman's views on the New Deal were incorrect. She also highlights the importance of academic research and expanding one's understanding beyond what is commonly known.
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