Thursday, November 16, 2006

All Gone Away

"'At the Harvard University I knew as a graduate student in the late 1960s, Milton Friedman was treated as a right-wing Midwestern crank,' said Robert J. Barro, a noted economist, during a 1998 tribute to Friedman at Stanford University. 'It is notable that Milton Friedman's transition from pariah to priest was achieved mainly through the force of ideas.'
"Not all of the ideas found lasting acceptance. The U.S. Federal Reserve, the Bank of England and other central banks abandoned much of his monetary prescription, after brief and unhappy experiments."

The Los Angeles Times reports the death of economist Milton Friedman.

And in December, it runs an obit for former Chilean dictator Augusto Pinochet, who turned his country over to Friedman's "Chicago Boys" after overthrowing Salvador Allende.

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