Happy B-day, Milton
Milton Friedman was the greatest economist of the 20th century, and one of the most influential advocates for personal, religious, and economic freedom. It must be remembered that when men like Dr. Friedman (and F.A. Hayek) were first promoting free market capitalism after WWII, very few took them seriously. But they persisted. Dr. Friedman refused to accept the Left's notions of collectivism, top-down socialism, social engineering, and the government's manipulation of economic markets (aka Keynesian economics).
He would have been 98 years old today. We lost Milton Friedman four years ago, but his legacy lives on. Today at Townhall.com, columnist Meredith Turney has written an exceptional tribute to the man who reminded Americans that we deserve to be "Free to Choose."
There is a cavalcade of fantastic videos on YouTube featuring Dr. Friedman and I HIGHLY recommend you check them out. Here's a taste:
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July 30th, 2010 - 11:29
Great clip. Two things. First, I would argue that FA Hayek and James Buchanan are potential rivals to Keynes as best economist of the 20th century.
Second, Friedman was an amazing economist, but I also think anyone who reads his memoirs (Two Lucky People, coauthored with his wife Rose) must agree that he was really a kind and genuine person too. I remember meeting him as an undergraduate. He was speaking at a tax conference that I was attending. When I showed up, I happened to run into an old friend who was in charge of the conference. She points out Friedman sitting at a private table eating lunch with about ten other economists (mostly from Hoover, including the great Bill Evers). She walks me over introduces me to the table and sits me down right next to Milton! One of the Hoover guys draws Friedman’s attention to the fact that we’re wearing the same Adam Smith tie! We made some small talk and then I just sat there listening to a fantastic conversation. It was a real treat to hear he and his amazing wife talk while eating some cheesecake and drinking Ice Tea. Very surreal to a young economist like myself.
July 30th, 2010 - 12:58
That is a great story. Thanks for sharing it.
When it comes to personalities and how people are off-camera or out of the public limelight I can’t judge them if I don’t know them personally. But in the public arena, and especially in the arena of ideas, there was almost no one better than Dr. Friedman at articulating the principles and values of a free market economy.
My favorite economist is actually Thomas Sowell, but that’s just a matter of mere preference (and because of the seemingly endless stream of wisdom that man continues to churn out week-after-week, month-after-month, year-after-year). Hayek, Friedman, and Sowell are names that every American ought to know, and whose works they really should read (and study).
-RJM
July 30th, 2010 - 22:06
Thank you Gordo and admin. It is too bad that capitalism and freedom are so hard for people to understand. I certainly hope Friedman’s and Sowell’s legacies grow stronger over time.
rcf