Milton Friedman, Spot On

Federal Reserve Governor Bernake looks back at several controversial monetary propositions of Friedman in 1970, noting now that most all of them have been accepted today. Inflation is always a monetary phenomenon, and monetary policy only affects growth in the short run while long-term growth is the product of innovation, investment, and entrepreneurship.

Economic Scene: Rethinking Milton Friedman
- posted by JW Walthall at 9:47 AM | Permanent Link | 0 comments