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Mistah Friedman? He Dead

Author

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  • James K. Galbraith

Abstract

Why is there no Milton Friedman today? For two reasons. The young Milton Friedman emerged from a cloistered hold-out against the Age of Keynes; as such he was a battle-tested master of ingenuity and subterfuge. The accomplishments of those years cannot be replicated by the dominant and dogmatic orthodoxy that Chicago-style economics has become. On the other hand, as a celebrity and TV personality, the older Milton Friedman has many imitators. It’s a well-paid niche, and as such the caliber of people drawn to it is not very high.

Suggested Citation

  • James K. Galbraith, 2013. "Mistah Friedman? He Dead," Econ Journal Watch, Econ Journal Watch, vol. 10(2), pages 180-183, May.
    • Handle: RePEc:ejw:journl:v:10:y:2013:i:2:p:180-183
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    More about this item

    Keywords

    Milton Friedman; adaptive expectations; permanent income; economic freedom; Chicago school; economics; economists;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals

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