Scholarly Comments on Academic Economics

Why Are There No Milton Friedmans Today?


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This article addresses two questions: Are there fewer economist public intellectuals today than previously, and if so, why? and: Are there fewer economists who support free markets today, and if so, why? It answers yes to the first question, suggesting that the selection process for graduate schools today is weeding out potential public intellectuals. But the answer to the second question is unclear, because today most economists blend policy and theory in a way that makes it hard to tell what their view of free markets is and why they hold that view.