Economist Milton Friedman just died. What do you think of him?

Answer 1

Poor guy was an economic genius but a political fool. His most famous and controversial contribution was his involvement in the economic reform in Chile, although he made several other major contributions. He advised the government on economics with the help of the Chicago Boys who were Chilean graduates of the University of Chicago (which is still a great school in econ)

The way he went about advising the Chilean government lead some controversy about his affiliation with the military dictator Augusto Pinochet (bad man), which oddly enough is never a good position to be in. Later he received a Nobel Prize for his economic ideas. Many protestors were there to meet him when he was awarded the prize. He was actually heckled during the presentation. His opinion was that the hecklers were all communists angered by the idea that he was speaking out about free markets in countries where communism was the economic policy.

The movie "Evita" is set on events that occurred several years before Milton Friedman made his appearance in Chile.

Basically to make a really long and interesting story short and somewhat uninteresting in Chile there was a socialist president (Salvador Allende) who screwed up the economy even more than it already was (as most socialists do). He was overthrown by a military man (Augusto Pinochet) who became the dictator of Chile for a time. Their economy still sucked.

Milton Friedman was a famous economist at the time. He was requested to speak in Chile. While there he made a speech that basically said the implementation of economic freedom would lead to the downfall of a dictatorship. He was speaking directly against Pinochet when he said this. Despite this speech, the recommendations Friedman made to the Chilean government were implemented, although not as he suggested. Chile had an unbelievably high inflation rate. After the implementation of the new financial policy (which basically converted Chile from communism to a free market economy in a day) Things worsened substantially for a short time. At one point the unemployment rate reached 30%. This also fueled the controversy surrounding his Nobel Prize. After the shock the economy picked up and became one of the fastest growing economies in the world.

Good man. Although I’m glad I am not him.

Answer 2

it extremely is extraordinary and stunning. What I bear in techniques approximately Milton Friedman is that he grew to alter into into so absurdly left wing is grew to alter into into ridiculous. What even gave you the theory he grew to alter into precise right into a conservative? His loose industry concept grew to alter into into seen communistic interior the Nineteen Seventies.

Answer 3

A great man. His two books "Capitalism and Freedom" and "Free to Choose" should be required high school reading.

Answer 4

I think he was a great economist.........but sorry that life is short

Answer 5

C=JD WHERE ARE YOU FROM.......YOU INTREST ME.....