EconTalk
Jennifer Burns on Milton Friedman
Nov 13, 2023
Jennifer Burns, an Associate Professor at Stanford University and author of the biography "Milton Friedman, The Last Conservative," dives deep into the complexities of Milton Friedman’s economic legacy. She discusses how mentor Henry Simons shaped Friedman’s thinking and explores the pivotal role of women in his intellectual journey. The conversation also tackles Friedman's views on prices as essential signals in free markets and examines the lasting impact of his theories on modern economic policies and the debates surrounding them.
01:03:38
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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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