Free Capitalist Network - Community Archive
Mises Community Archive
An online community for fans of Austrian economics and libertarianism, featuring forums, user blogs, and more.

Friedman stops believing in the fed

rated by 0 users
Not Answered This post has 0 verified answers | 6 Replies | 3 Followers

Top 500 Contributor
366 Posts
Points 5,635
yessir posted on Thu, May 10 2012 10:02 AM

This is the only conclusion I can reach after reading this. In it Friedman argued that the greenspan era showed that the federal reserve "have the technical abilty to maintain stable prices". Since this article was in 2006, I can only assume that the events of the next few years (had Friedman been alive) exposed the folly of average price levels, stable prices, monetary tinkering, low inflation won't hurt argument etc...


  • | Post Points: 80

All Replies

Top 25 Contributor
4,249 Posts
Points 70,775

Folly is more resilient than you think.

Has his son changed his views? Has Krugman? Has anyone?

My humble blog

It's easy to refute an argument if you first misrepresent it. William Keizer

  • | Post Points: 5
Top 500 Contributor
225 Posts
Points 4,195

Friedman advocated a free banking system toward the end of his life.

'' The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.'' Stephen Hawking

  • | Post Points: 20
Not Ranked
50 Posts
Points 1,450

Bottom line: no one belived them and many mock them, but austrians were right all the time.

It is not left versus right, it is social engineering versus spontaneous order.
  • | Post Points: 5
Top 100 Contributor
806 Posts
Points 12,855

If I had a cake and ate it, it can be concluded that I do not have it anymore. HHH

  • | Post Points: 5
Top 10 Contributor
6,953 Posts
Points 118,135

Friedman, 1995: "The difference between me and people like Murray Rothbard is that, though I want to know what my ideal is, I think I also have to be willing to discuss changes that are less than ideal so long as they point me in that direction. So while I'd like to abolish the Fed, I've written many pages on how the Fed, if it does exist, should be run."


  • | Post Points: 5
Top 200 Contributor
391 Posts
Points 6,975

We could always just ask his son what his fathers, and his own views, are on the Federal Reserve. He's been gracious enough to answer our questions in the past, so hopefully he'll oblidge us again. 

David Friedman David Friedman David Friedman! 

  • | Post Points: 5
Page 1 of 1 (7 items) | RSS