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FRIEDMAN FRIDAY Milton Friedman rightly pointed out that the crisis of the Great Depression was not a failure of the free market system but of government and Dan Mitchell concurs!!!

Milton Friedman rightly pointed out that the crisis of the Great Depression was  not a failure of the free market system but of government and Dan Mitchell concurs!!! 1,244 more words

Milton Friedman

Why do you make so much trouble, arguing with your friends?

It seems nowadays having strong opinions about anything can get you into deep trouble.  Not only do you risk offending the people who challenge your views, but there are countless others that don’t say anything and simply write you off or agree to disagree with you.   702 more words

Government

Surprise! Martin Feldstein, unwittingly, makes the case for nominal stability

In the WSJ, MF writes “The U.S. Underestimates Growth”:

…This is why we shouldn’t place much weight on the official measures of real GDP growth.

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Monetary Policy

A good lie told well, the secret of managing the economy

Image courtesy of randalrauser.com

What every economics student used to learn at university was how difficult it was for leaders to make policy decisions on the economy. 1,267 more words

Economics

The evil that is the Federal Reserve

James Longstreet ‘splains what I keep pointing out.

I consider some of the mouthpieces for the Fed to be despicable for what they condone be done to people with pensions and fixed incomes. 75 more words

Economics

Centinel2012 reblogged this on Centinel2012 and commented:

In 1963 Milton Friedman and Anna Jacobson Schwartz published “A Monetary History of the United States 1867-1960" which should be mandatory reading for any serious work in macro economics especially relating to monetary policy. In Chapter 7 and running for 120 pages is a description of the period 1929-1933 which he calls The Great Contraction. After reading this Chapter of this book of 859 pages there can be no doubt in any rational mind that the FED “caused” the economic collapse that we call The Great Depression. There is little doubt that the FED also caused the 2008 collapse in the financial markets when the Housing bubble that they created burst. They are now working on a sovereign debt bubble that will be even worse than any that have occurred in the past. The FED needs to be eliminated.

“To really understand something you’ve got to reduce it to its principles.” ~ Milton Friedman

Milton Friedman

A New Paper on the Short, But Sweet, 1933 Recovery Confirms that Hawtrey and Cassel Got it Right

In a recent post, the indispensable Marcus Nunes drew my attention to a working paper by Andrew Jalil of Occidental College and Gisela Rua of the Federal Reserve Board. 1,338 more words

Expectations