Tag: Milton Friedman
Inflation Ahead

Federal Reserve Chairman Ben Bernanke told Congress he has an exit strategy to rein in excess growth in the monetary base when the time comes. The problem is, any action that would reduce the bloated monetary base would do so by increasing interest rates, and Bernanke has also said he will keep interest rates...
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Anna Schwartz Indicts the Federal Reserve–Again

Economist Anna Schwartz devoted ten years to gathering and analyzing the data that went into her book with Milton Friedman, A Monetary History of the United States, 1867-1960. It was the empirical rigor of that book that reminded economists and central bankers of a truth many of them had forgotten—namely, that excessive growth of...
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School Choice: Really Free, Semi-Free, or Flee as Fast as You Can?

School choice is one of the most popular ideas promoted by liberty-minded writers and politicians. Milton Friedman was the most influential advocate of “school choice.” In Capitalism and Freedom (1962), Friedman argued for school vouchers on efficiency grounds. Forty years later, Friedman devoted himself to this one issue by establishing the Milton & Rose...
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Public schools = public menace?

For several years, I have been preparing an anthology on Race and Liberty: The Classical Liberal Tradition of Civil Rights (forthcoming, Independent Institute). The issue of religion intersects with race again and again.

Words Matter: Rebate, Bonus, or Free Money?

One of the reasons I find economics is fascinating is that many of its assumptions and research are based on psychology. Here is a timely example: (Nicholas Epley, “Rebate Psychology,” New York Times, January 31, 2008) Save your “rebate” or spend your “bonus?” This findings of one study: give $50 to one group of...
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