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To: JLS
So your view would be that if Milton Friedman were running the Fed today, you would demand he resign.

If he'd done what Bernanke has, hell yes!

Friedman was a great and wonderful defender of free enterprise. His books, videos and documentaries are must-see for anyone learning about capitalism.

His fatal flaw was his view that money can and should be manipulated by government. He got that part really, really wrong.

14 posted on 07/13/2011 3:56:24 PM PDT by BfloGuy (Nobody is in a position to decree what should make a fellow man happier. -- L. Von Mises)
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To: BfloGuy

“His fatal flaw was his view that money can and should be manipulated by government. He got that part really, really wrong.”

Perhaps you need to google Monetarism or stable money growth rules. Friedman certainly got somethings wrong, ie negative income taxes v. “skin in the game,” but as I asked the prior poster:

1. What has been money growth over the last 12 months.

2. What has been the change in the price level over the last 12 months.

3. Do you imagine that the FED has some magic wand that can control anything other than the rate of growth of the money supply?


15 posted on 07/13/2011 4:01:24 PM PDT by JLS (How to turn a recession into a depression: elect a Dem president with a big majorities in Congress)
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