Scholarly Comments on Academic Economics

Why Is There No Milton Friedman Today?

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Abstract

Milton Friedman combined the roles of economic analyst, advocate of specific public policies, and passionate public intellectual advocating classic liberalism, though largely on moral and political rather than economic grounds. Immensely influential in his lifetime, his star has faded in recent years in the face of growing recognition, stimulated in significant part by the global economic crisis that began in 2008, of the limitations of laissez-faire economics.