Saturday, December 24, 2011

Friedman and Krugman

New Frontiers in Economic Barbarism - "Quite. What Matt may not know, however, is that this is a classic argument in international macro, and the person who made it best was …. drumroll … Milton Friedman. Here’s a snip from Friedman’s 1953 essay “The case for flexible exchange rates”:

Is it really possible that people at the University of Chicago have unlearned not only Keynes but Friedman? Alas, yes."

'via Blog this'