

Jennifer Burns on Milton Friedman
52 snips 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.
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Initial Misconception
- Jennifer Burns initially viewed Milton Friedman primarily as a public intellectual who simplified complex ideas for mass audiences.
- Her research revealed a deeper interest in Friedman's economic theories than his public persona.
Chicago School's New Deal Intervention
- Burns discovered that early Chicago School economists, including Friedman's mentors, advocated for significant government intervention during the Great Depression.
- This contradicted her prior beliefs about their laissez-faire stance.
The Last Conservative
- Burns labels Friedman "The Last Conservative" because he embodies a now-fading 20th-century conservative synthesis.
- This combined traditionalism, free-market capitalism, and anti-communism, driven by intellectualism rather than personality.