Jeff2422 Wrote:
Aug 02, 2012 12:19 PM
When I was a child, I spoke and thought like a child. When I became a man, I put away childish things. I think that sums-up not only Friedman's conversion, but the difference between Keynes and Friedman. Keynesian economics looks great on paper, and like a child's gulible nature, it is very seductive to believe that the government can spend and tinker with the money supply and smooth the rough edges of the economy. But, when empirical data shows otherwise, it is time to grow-up and put away childish dreams that the government really can do anything except make a mess. Also, as Friedman told Phil Donohue, why do you trust the government, "where are these paragons of virtue" that you can trust. We sorely miss Friedman's common sense.