"'What Milton Friedman said was that government should not interfere,' said Allen Sinai, chief global economist for Decision Economics Inc., a consulting group. 'It didn’t work. We now are looking at one of the greatest real estate busts of all time. The free market is not geared to take care of the casualties, because there’s no profit motive. There’s no market incentive to deal with the unemployed or those who have lost their homes.'"
Peter S. Goodman in The New York Times asks if current economic problems warrant a reconsideration of Milton Friedman.
Saturday, April 12, 2008
"Come Take a Walk upon These Hills"
Labels:
2000s,
economic history,
Goldwater,
political history,
politics,
Reagan
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